MIAMI -- ResidenSea said it is close to finalizing an agreement to
sell its ship the World and the ship's unsold cabin inventory to
the owners of the ship's condominium apartments.
ResidenSea, which launched in early 2002, operates the World as
a unique cruise concept that mixes cabins owned condo-style by
individuals or corporations with cabins rented on a per-diem basis
and booked through travel agents.
A vacation-rental program will continue to operate under the new
ownership structure, resembling that of "a luxury land-based
condo," a spokeswoman said.
As for the future of ResidenSea itself (if the sale takes
place), the company said that "the details of the management of the
company -- operations and residential sales -- still are being
reviewed."
ResidenSea has courted agents to sell "studio residences" as
they would a regular cruise product.
But executives have admitted the message and the explanation of
the World concept was, at times, confusing.
To spur sales, ResidenSea recently offered 50% commission on
some Southern California sailings, with mixed results.
To contact reporter Rebecca Tobin, send e-mail to [email protected].