Regent Seven Seas Oldest Cruise Ship to Launch New Ocean Residence Brand

The Seven Seas Navigator (28,800 gross tons), the oldest of the cruise ships sailing for the luxury brand Regent Seven Seas Cruises will be converted in 2026 launching what is being called a new residential model offering luxury residences at sea. A new company called Crescent Seas is being launched by luxury real estate developer Crescent Heights with the group setting its sights on expanding in residences at sea.

“We decided to select ships with the right configuration to convert to the most magnificent cruising yachts,” says Russel Galbut, a founder partner of Crescent Heights and long-time investor in the cruise industry. “After hand-selecting this ship, we hired the same experienced management teams to operate the ship for the first 10 years of operations.”

Galbut, a lawyer, was a founding director and investor in Prestige Cruises starting in 2005 till the company was acquired by Norwegian Cruise Lines Holdings in 2014. Prestige is the parent to Regent and Oceania Cruises. Galbut served as a director and later Chairman of the NCLH board from 2018 to 2024.

Crescent Seas is being launched through GFO Investments, Galbut’s global family office, and a major investor in real estate developer Crescent Heights. The real estate company highlights that it specializes in urban developments including prestigious properties in Miami, Los Angeles, and New York City.

The company reports it has an agreement with the owners of the ship which are an affiliate of Norwegian Cruise Line Holdings. Regent currently has published itineraries for the cruise ship through October 2026. Cresent Seas reports it will sail on its maiden voyage as a residence ship in December 2026.

Rendering of Navigator converted into a residence cruise ship (Bespoke Luxury Marketing, Crescent Seas)

The Navigator is a ship with a unique history and helped to establish the luxury brand today known as Regent Seven Seas Cruises. Carlson Companies, a worldwide group of marketing, travel, and hospitality companies, including Radisson Hotels International, entered the cruise business in the early 1990s and that led to the formation of Radisson Seven Seas Cruises in 1995. Looking to expand they partnered with ship management firm V.Ships of Monaco and in time it became Regent Seven Seas Cruises.

V.Ships had acquired in the mid-1990s the hull of an incomplete Soviet navy ship and was working with the T. Mariotti shipyard in Genoa, Italy to complete it as a cruise ship. The machinery and superstructure were scrapped and a new power plant was added. Outfitted with high-end luxury fittings, the all-suite ship with accommodations for 496 passengers was introduced in the summer of 1999 as the mv Seven Seas Navigator. The cruise ship is 566 feet (172.5 meters) in length.

"We are delighted to announce that Navigator will continue to sail the ocean with Crescent Seas. While we know Navigator is a favorite to many guests, with our two new Prestige Class ships on order, this agreement allows us to optimize our fleet while ensuring Navigator continues creating unforgettable memories at sea," said Jason Montague, Chief Luxury Officer of Regent Seven Seas Cruises.

Cresent Seas reports that the ship will undergo a more than $50 million refurbishment featuring design firms Lissoni & Partners, Journey, and MAWD. It will be converted to 210 residences from its current 248 suites. Sales for the residences will open on April 9 with prices ranging between $750,000 to $8 million.

The ship will operate “extended voyages,” the company reports staying in each destination for two to three days. Among the destinations highlighted in the announcement are places like French Polynesia, the Faroe Islands, and Madagascar. On board, they report the ship will feature butler service and provide Starlink internet connections.

The launch of the new operation is in keeping with the move for new luxury segments of the cruise industry, which is also seeing deluxe hotel brands including Ritz-Carlton and Four Seasons launch cruising yachts. Cresent Seas reports big goals saying it plans to announce four more luxury residence ships over the next five years.