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A Recession Casualty – King Juan Carlos of Spain Giving Up Luxury Yacht “Fortuna”

Published May 22, 2013 · Updated November 26, 2014

Sometimes even kings are not immune to the recession and economic hardship. One of the surprising cutbacks is that King Juan Carlos of Spain is relinquishing his approximately, 21 million-euro ($27 million) yacht – tiled “ Fortuna .”

As the European country of Spain continues to battle the never-ending recession and record unemployment, hard choices must continue to be made.

The Fortuna yacht is similar to other assets such as the royal palaces, which are owned by the state and managed by the National Heritage for the use of the 75-year-old king and his family.

Fortuna is 41.5-metre (136-foot) in length and was donated back in 2000 by a business group. It’s costly to maintain in addition to taking it out on the Mediterranean. According to the Spanish press, each sailing costs more than 20,000 euros for each refuelling.

Last week, a spokesman for the institution was quoted “The king has taken the decision to ask the National Heritage to proceed with the release of the asset,” said late Thursday.

The next step is the National Heritage board needs to approve the King Juan Carlos yacht’s transfer back to the government. The next choice would be to keep the luxury yacht or to sell Fortuna .

Source: AFP

Tags: Corporate Concierge King Juan Carlos Lifestyle Concierge Lifestyle Management Luxury Concierge Spain VIP Concierge yacht

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Gallery: Europe's royal families captured at sea

To mark the Queen's official birthday 2021, BOAT rounds up the most iconic images, and boats, of Europe's royal families at sea, including Prince Philip, Meghan Markle and Prince Harry and the Queen herself. 

Here, Queen Elizabeth II is seen boarding the 126m HMY Royal Yacht Britannia in 1995 to cruise around the Western Isles. Royal Yacht Britannia served as the Queen's royal yacht from 1954 until it was decommissioned in 1997. However, plans have now been announced to commission a new national flagship . 

Prince Philip

Prince Philip, the former Duke of Edinburgh, is photographed here with boat designer Uffa Fox sailing at the Cowes Regatta on board Coweslip , a Flying Fifteen keelboat that was presented to the Queen and Prince Philip as a wedding present in 1949. Prince Philip was known to go sailing frequently on Coweslip with Fox. Together, they won the Britannia Cup in 1952. The husband of Queen Elizabeth II was an avid sailor; he began his training for life at sea while studying at Britannia Royal Naval College in Dartmouth, and from the age of 18 he joined the Royal Navy and served from 1939 until 1951. During World War II he served with distinction in the Mediterranean and Pacific Fleets. Before his death, he held the title of Lord High Admiral of the Royal Navy. 

The Duke and Duchess of Sussex

In October 2018 the Duke and Duchess of Sussex embarked on their first overseas tour as a married couple, visiting Australia, Fiji, Tonga and New Zealand. The trip was timed to coincide with the Invictus Games, which began on October 20 and of which the Duke of Sussex is a patron, and with sailing making up a key part of the event it wasn't long before the couple found themselves out on the water.

The Duchess of Cambridge

The Duke and Duchess of Cambridge both spent time sailing as children and have carried this passion into their adult lives. Here, the Duchess of Cambridge is seen at the helm, competing on behalf of The Royal Foundation at the King's Cup regatta. The event was hosted by the Duke and Duchess of Cambridge in Cowes in 2019. 

Pierre Casiraghi

Pierre Casiraghi, son of Princess Caroline of Hanover and grandson of Princess Grace of Monaco, is seen on board of Malizia during the 36th Copa Del Rey Mafre Sailing Cup in 2017 in Palma de Mallorca, Spain.

The British, Spanish and Greek Royal Families

Who better to invite aboard your royal yacht than other royals? When King Juan Carlos of Spain invited the fellow young British and Greek royal families aboard his yacht Fortuna (now re-named Foners ) in 1990 it was a photo op not to be missed. From left to right: Queen Anne-Marie of Greece, King Constantine II of Greece, Princess Theodora of Greece, Diana, Princess of Wales, Prince Charles, King Juan Carlos of Spain, Prince William, Prince Harry, Queen Sofia of Spain, Princess Cristina of Spain and Princess Elena of Spain.

Prince Frederik of Denmark

A keen sailor, Crown Prince Frederik of Denmark is seen here with crewmate Chris Meeham competing in the Men's 35+ Tasar class sailing during day seven of the 2009 World Masters Games at Woollahra Sailing Club in Sydney, Australia.

The Dutch Royal Family

Dutch Princess Felicia, Princess Anastasia, Prince Lucas and Princess Marilene are pictured on their yacht De Groene Draeck (The Green Dragon) attending the final day of SAIL Amsterdam 2015.

Prince George

Prince George, the firstborn son of Prince William and Catherine, Duchess of Cambridge, is also spotted at the inaugural King’s Cup regatta alongside grandfather Michael Middleton.

King Juan Carlos

The Spanish royal family has long been known for its sailing prowess and former monarch King Juan Carlos I is no different. In 1972, Juan Carlos even competed at the Olympics in the Dragon class racing and finished in 15th place. The Spanish royal has owned a number of yachts in his lifetime including the 41.5 metre Fortuna , one of the fastest yachts in the world, which has since been renamed Foners . Here he is seen helming another of his yachts, the Judel and Vrolijk -designed sailing yacht Bribón XV .

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Fortune yacht (1979) (Q16648743)

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This is how much the yacht of King Juan Carlos of Spain costs

The yacht of King Juan Carlos I, the ‘Fortuna’ , is one of the most famous vessels in Spain. For decades it was one of the symbols of Spanish royalty, sailing countless crossings of the king in the Mediterranean during his years of reign.

This imposing vessel, built in 1997 in the Bazán shipyard in Cádiz, was a gift from a group of businessmen to the monarch for a value of around 18 million euros.

What was King Juan Carlos’ yacht ‘Fortuna’ like?

With a length of 41 meters and capacity for 8 passengers and 8 crew members, the ‘Fortuna’ captivated with its majesty and speed, being able to navigate at 130 km/h thanks to its powerful Rolls-Royce turbines.

Its luxurious interiors, with a spacious salon, dining room, and 4 double cabins, were witness to the King’s meetings and celebrations for more than 15 years.

After the abdication of Juan Carlos I in 2014, the yacht was returned to the Tourist and Cultural Foundation of the Balearic Islands, who sold it months later for only 2.2 million euros to the shipping company Balearia. A price considerably lower than when it was built, but which represented the end of a golden era for the royal vessel.

What is its current situation?

Since then, the ‘Fortuna’ has been renamed ‘Foners’ and has been for sale intermittently without any luck. Initially offered for €8 million in 2018, her price plummeted by half the following year in the absence of buyers.

In 2021 it returned to the market with a purchase price of 2.2 million, but no bidder was encouraged to acquire it.

Experts point out that, despite its glamorous history, Fortuna’s very high maintenance and operating costs have deterred potential new owners.

Its powerful engines consume fuel at a rate that is difficult to afford for private use. Moreover, after years of inactivity, it would require additional investment in renovations.

The king’s yacht, awaiting a new owner

For now, the historic ‘Fortuna’ of King Juan Carlos remains anchored in the port of Denia, a faded shadow of the majesty it once represented.

The high costs of its ownership and operation seem to have buried, at least for now, any chance of the yacht regaining its past glory by sailing the seas under a new owner. A melancholy end for a symbol of Spanish royalty.

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2000 Bazan Izar Fortuna Royal Yacht

Boat details.

Main Description

Formerly ‘Fortuna’ used exclusively by the Royal Family of Spain and their guests.

Designed to achieve in excess of 65 knots, yet provide a supremely luxurious and comfortable experience aboard for those aboard. The pinnacle of design and technology in all respects at the time of her launch.

Well maintained and upgrades include a gyroscopic stabilizer.

INVITING ALL SERIOUS OFFERS

Accommodation

Interior by Milan based Celeste Dell’ Anna in an austere yet elegant style.

The interior wood work throughout the boat is gloss sycamore, with stitched tan leather detailing. A beige carpet with Japanese accents runs throughout the accommodation areas. Ceiling panels are of a light cream colour, alcantara type with square detailing.

A classic four cabin layout accommodating 8 people on the lower deck, with owner’s cabin centrally located, twin cabins to port and starboard and VIP forward, all en-suite.

Lighting is provided principally 220 volt halogen spotlights, with emergency DC lighting throughout. Continental type 220 volt sockets to all areas.

The windows throughout the accommodation areas are all fitted with a wooden venetian blind and a ‘black out’ screen, both electrically operated.

Full reverse cycle Marineair air-conditioning to whole vessel (3 x 216.000 Btu).

The accommodation of ‘Foners’ is specially insulated so that almost no sound is carried between the cabins. The accommodation weighs approximately 7 tons, yet there is 9 tons of insulation.

The superstructure is lined with aramid fibres for the express purpose of making it bullet-proof.

Entering the main saloon via the double doors from the aft deck, there are two sofas directly in front and to port with a coffee table, a snug seating area with table to starboard and a casual table with two individual chairs in the centre.

The dining area is further forward is partitioned with access by large double sliding doors from the starboard corridor, and there is a large electric ‘drop down’ panel which also opens this space up to the saloon.

The aft port sideboard incorporates a large flat screen television on raising and lowering mechanism.

The starboard sideboard incorporates a hidden stainless steel serving counter, top loading stainless steel fridge and an ice maker. This runs into general storage going forward.

There are three individual lamps.

Dining area

Transverse dining table in wood with leather centre section, places for up to 10 persons. Storage for crockery in the surrounding cabinetry.

Going forward from the saloon and dining areas the corridor leads to stairs down to the main accommodation area, a day head with parquet flooring, a manual door out to the side deck and finally stairs up to the main navigation bridge.

Master cabin

A large central double bed, forward facing with storage draws underneath and bedside cabinets either side. Split bathroom aft with parquet flooring, WC to port and shower room to starboard. Wardrobes on the forward bulkheads and storage cupboards to starboard and a sofa on the port side. Free standing cabinet facing the bed for small TV / entertainment system / storage.

Discreet rope lighting under the bed, around the portholes recess and two reading lamps either side of the bed.

Double bed facing aft, offset slightly to starboard allowing a writing desk alongside. Bedside tables with lamps, sofa to port that would also serve as an occasional bed. Cupboards to starboard, wardrobes to port and storage under the bed.

Twin cabins

Each have two single beds with central bedside unit, wardrobe storage and draws under the bed. The starboard cabin also has an incorporated seat.

Again discreet rope lighting under the bed and around the portholes recess.

Crew can enter from the port side deck, through the galley into the mess area and also through a direct side door further forward on the starboard side. This area has a large table with seating for up to 10 persons. Further forward are large compartments for storage, an additional crew bed and an emergency escape route to the bow of the vessel.

2 x CCTV screens Television Denon music system Continuing forward from crew mess leads down to the crew area in the bow of the vessel with two cabins aft, one for the captain with writing desk and one with twin bunk beds, both en-suite.

Centrally located is a laundry area and through a water tight door into the bow is an open plan crew area with four bunks and two bathrooms. Under the forward bilge is access to the bow thruster assembly and aft of which is a large unused area of bilge that could be utilized for storage.

Miele Washing machine Miele Dryer Incorporated ironing board Storage cupboards 3 x Intercom

Galley & Laundry

Large centrally located galley with multiple access from port side deck, starboard accommodation corridor or aft through automatic door directly into the dining area. Parquet flooring and white surfaces, with stainless steel sink and cooking area. Professional appliances are well laid out including central island and extra ‘fold away’ counter top space.

Miele professional wide induction hob with 5 ‘rings’ Miele fryer Large stainless extractor hood Siemens wide oven Siemens microwave Imperial steam cooker U-Line ice maker Dough mixing machine for bread Casanova bottle fridge 2 x large Miele fridges 2 x large Miele freezers Miele professional dishwasher Trash compacter Intercom

Main Navigation Bridge

The main navigation bridge is spacious, well positioned and with good all round visibility. Accessed is via accommodation corridor to starboard, the crew corridor to port and also via a companionway up to the flybridge helm area. Rich brown alcantara interior paneling and parquet flooring.

The bridge electronics have been updated and the layout incorporates a chart table with light to starboard, two Vejvad Hansen navigator’s chairs on Deck Tracks sliding track, raised sofa behind for onlookers and extensive storage for manuals, charts and accessories.

KaMeWa water jet controls – 2 directional, one fixed Humphree jet trim monitoring system Celsa Trim tab monitors with Marquipt trim tabs Hydraulic bow thruster control

5 x AG Neovo multi function colour monitors 3 x Track ball ‘mouse’ controls PC based navigation system Admiralty Raster Chart Service Furuno GPS navigator GP90 Trimble NT – DGPS Furuno FR1525 radar 96nm, ARPA compatible, 25kW antenna and GaAs 8 tone daylight display Robertson AP9 Mk 3 Autopilot

Computerized systems control monitoring Anschütz gyro compass Lirtton C.Plath compass monitor

Ultra Force MR night vision camera system CCTV system Electrically operated UV screens slide down interior of forward windscreens 3 x Hepworth windscreen wipers Internal screen demisters

Autohelm depth display Raymarine ST60 wind instrument Furuno Navtex NX-300

Vingtor Marine Intercom – foredeck, aft starboard, aft port, turbine room, diesel room General intercom to accommodation Thrane & Thrane 3064A satellite phone GSM phone system Sailor Compact VHF DSC RM2042 Sailor Compact VHF RT2048 Sony CD / radio / USB / aux.

5 x Mastervolt battery charger monitor displays

As can be appreciated from the exterior lines, the flybridge is very spacious and is protected by a high wraparound windscreen. Full teak decking and a hard top to the helm area forward – also acting as a wing to deflect oncoming air at speed to leave guests in a relative calm.

There are three principal navigation seats and two twin seats behind, all with arm rests and foot supports. Also under the hardtop facing aft is a dining table with fixed seating capable of seating up to 10.

Towards the rear of the flybridge is a bench seat with split high & low level seating facing forward and there are two small raised sun pads at either side of the flybridge. In the centre it is possible to locate eight large sun cushions to form one large sun pad, at floor level giving private sun bathing.

At the aft of the flybridge is the tender storage currently housing a 5 metre RIB with crane.

KaMeWa water jet controls – 2 directional, one fixed Celsa Trim tab monitors with Marquipt trim tabs Hydraulic bow thruster control Steering indicator

3 x Nauticomp multi function colour monitors 3 x Track ball ‘mouse’ controls

Gyro compass repeater MAN engine instrumentation Robertson AP9 Mk3 autopilot

Sailor Compact VHF RT2048 Vingtor Marine Intercom

Furuno GPS navigatorGP-90 Furuno RD-30 depth display Raymarine ST60 depth Raymarine ST60 wind

Lateral lighting and to the underside of the hard top Fresh water shower connector Fresh water outlet Novurania 5metre RIB with 125hp Yanmar & Castoldi jet (313 hrs @ 4/14) Marquipt crane 1020 kg capacity – starboard side launch

Deck Gear & Equipment

Teak decking of 6mm fitted to all exterior areas. Large aft deck with seating for five people integrated into the transom and space for a large table under the overhang of the flybridge. Stairs up to the flybridge and comfortable side decks with titanium handrails lead to the bow, where there are recessed sunbathing cushions.

5 x Titanium fairleads and cleat positions on each side of the vessel 2 x Lofrans mooring winches on bow Lofrans double anchor winch and fresh water outlet concealed under foredeck hatch Bow storage area incorporating emergency exit from crew area Either side of aft deck has warping drum, intercom and connection for 24 volt search light Port and starboard side deck cameras Water and fuel fillers to both side decks Teak bathing platform with storage areas in transom locker and shower Carbon bathing ladder (stored in crew area) Rear facing camera on aft of flybridge Lights to underside of flybridge above aft deck and lateral lighting running to bow Carbon / teak folding passerelle

Safety Equipment

Autonica Fire alarm system Medical chest in crew mess area Diesel emergency bilge pump Electric submersible emergency bilge pump 2 x life rafts 18 life jackets (2 in each cabin) EPIRB 3 x FM200 fire extinguisher system to engine room compartments 25 x hand held fire extinguishers 2 x life rings with light

Additional Information

2 x small diving bottles with full face masks Inventory of further equipment and spares to follow

The Company offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.

2X MAN 2842 LE 404-Jet Drive 1300 hp 3X Rolls Royce Allison-571 KF-Jet Drive 6700hp

Specifications

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Contact ImmoNautic Yachting : Tel Spain: +34.972 967 599 | Email: [email protected]

Empuriabrava.

Edifici Immo Costa Brava Bahia 94 E-17487 Empuriabrava +34 972 451 450

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Royal Yachts That Are Beyond Lavish

Royals seem to have it all — multiple palaces and vacation homes, fabulous wardrobes, and lavish vacations in exotic locations. Royal families in some countries even have their own yachts.

As of this writing, Denmark, Holland, Norway, Morocco, and Monaco have working royal yachts. However, the royals of numerous other countries, including Great Britain, have enjoyed excursions on royal yachts of their own, some with interesting and extensive histories. A  1976 New York Times article revealed that the British royal family's former 412-foot impeccably maintained yacht, which was constructed for the late Queen Elizabeth II, was "to an ordinary yacht what Buckingham Palace is to the house next door."

From the high-end finishes and opulence galore to the wealth of amenities to experience on board, it's clear that an excursion on a royal yacht is like none other. From working royal yachts to those which have since been sold or decommissioned and placed on display for all to enjoy, these past and present yachts are beyond luxe.

Her Majesty's Yacht Britannia of Great Britain

The 400-foot-long, John Brown-designed " former floating palace " of the late Queen Elizabeth II was commissioned by King George VI in 1952. Following her father's death and her coronation, Elizabeth set sail on Her Majesty's Yacht Britannia in 1954. The queen was fond of the ship, which she once described as "the one place where I can truly relax." During Britannia's 40-plus year operation, it hosted several royal honeymoons, including that of King Charles III (then Prince Charles) and Princess Diana, and provided transportation for official royal visits. 

The luxurious yacht featured a drawing room, dining room, two sitting rooms, spacious crew accommodations, elevator, wine cellar, official reception room with fireplace and baby grand piano, and ornate staterooms with private bathrooms and dressing rooms.  The New York Times described the royal apartments as "[giving] way to the homey, patched elbow chic of an English country house, with flowered chintz slipcovers, family photographs, and rattan settees, interspersed with the occasional relic of Empire." And then there was the sun lounge, which was the queen's favorite space.

The Britannia's operating and maintenance costs eventually led to its decommissioning in 1997. These days, the yacht is stationed in Edinburgh for all to see — TripAdvisor gave the excursion the Travelers' Choice Best of the Best award in 2023.  Tickets include a self-guided audio tour and access to all five decks, which include the state apartments and sun lounge, while the Royal Deck Tearoom offers the opportunity to enjoy food and beverages aboard.

Azzam of Abu Dhabi

Following its April 2013 launch, the Azzam was the world's largest private yacht at 180 meters (about 591 feet) — only trumped in 2019 by the REV Ocean. Built by Lürssen Yachts for Sheikh Khalifa bin Zayed Al Nahyan of the Abu Dhabi royal family, the Azzam's exterior was designed by Nauta, which aimed to make the vessel elegant, sleek, and fast — with a top speed of 33 knots. Nauta founder Mario Pedol described the four-year design process, said to have taken more than 4,000 workers at a cost of over $500 million, to Boat International as "challenging."

French designer Christophe Leoni was enlisted to bring classic French regal style to the ship's interior, including the finest crafted wood furniture veneered with mother-of-pearl inlays. The yacht's other unique features include 18 guest suites, a pool, a gym, and a practice space for golf.

The Azzam was built to accommodate 80 crew members and 36 guests and features a large main saloon, serving as the vessel's focal point. To ensure unobstructed views, it was designed without pillars and with windows extending the full height of the yacht. "It was quite a challenge to make this space with no pillars," Pedol admitted to the outlet, adding that the ceiling beams needed to be exactly 1 meter (about 3.3 feet) wide. And, to ensure the windows were completely stormproof, the thick glass was custom-engineered in Italy. Another cool feature? The saloon's chandelier was constructed to be quiet and avoid rattling, not an easy feat for a yacht.

Prince Abdulaziz of Saudi Arabia

The Saudi royal family owns the Prince Abdulaziz, a 147-meter (about 482-foot) superyacht — once the biggest yacht in the world. It was built in Denmark in 1984 and its exterior was designed by Maierform Maritime Technology GmbH. The Prince Abdulaziz was named after the son of the late Saudi Arabian King Fahd, who originally commissioned the yacht. The royal family uses the yacht both for official and recreational outings. 

Renowned British interior designer David Hicks, known for his use of contrasting contemporary and classic design and bold use of color and lighting, led the interior design and decor of this luxurious yacht, which took over a year to finish. The ship's truly opulent decor features grand chandeliers, intricate mosaic flooring, and the use of blues and golds throughout. It's no wonder the extravagant yacht is valued at $100 million. Interestingly, the yacht is just one owned by the royal family.

Foners of Spain

Foners, once known as Fortuna, is a motor yacht belonging to King Juan Carlos of Spain and accommodating up to eight guests and six crew members. The 45.5-meter (about 149-foot) yacht was built by Izar in 2000. At the time, it was known as the fastest superyacht in the world, reaching a speed of 65 knots. Donald L. Blount & Associates was responsible for the yacht's naval architecture. Studio Arch was enlisted for the exterior design, while the acclaimed Celeste Dell'Anna is credited with the interior design and decor.

Foners' interior highlights its large main saloon for dining and lounging, with its 46-inch TV and entertainment center. The interior's luxurious finishes include sycamore wood with stitched tan leather detailing. The four staterooms on board feature a luxurious primary suite, a VIP stateroom, and two twin-size staterooms, each equipped with an en-suite bath. A unique feature of the ship's design is that it's bulletproof, lined with Aramid fiber.

Back in 2013, the Spanish royal family decided to sell the yacht due to its high costs to maintain. However, the listing price has dropped multiple times over the years and, at least as of 2021, a buyer has not been found.

Her Majesty's Yacht Victoria and Albert II of Great Britain

Her Majesty's Yacht Victoria and Albert II is a historic yacht that belonged to the British royals during the 19th century. It was built and launched in 1855 at the HM Dockyard in Pembroke, England. In 1868, this well-used and enjoyed yacht underwent an extensive renovation and continued its regular operations until 1901. It was eventually dismantled in 1904.

Per the  Royal Collection Trust , Queen Victoria wanted the yacht to feel like a "home from home." Instead of going for the more ornate look, she wanted the Victoria and Albert II to be simple yet grand. Prince Albert was also said to have been involved with the design. Some rooms boasted maple walls while the dining saloon featured luxe red carpeting and sat 18 people. The queen herself once wrote, "It is indeed a most magnificent and enormous vessel. One feels quite lost in here!"

Stalca of Monaco

If you're a fan of Grace Kelly , you'll love this one. In 1971, the Stalca was commissioned and given to the Grimaldi royal family of Monaco for Prince Rainier and Princess Grace to enjoy. They used the yacht for vacationing and entertaining both their high society and Hollywood friends. The Stalca was named after the couple's three children: Prince Albert and Princesses Caroline and Stephanie.

The 24.6-meter (about 81-foot) classic motor yacht was built by Visch Holland. Stalca's four cabins, which can sleep eight people, include a lavish primary suite with an en-suite bathroom, a VIP suite also with a private bath, and two twin cabins with a shared bathroom. The main saloon is a large open space with a formal dining room and a relaxing lounge.

Though lovingly maintained over the years, the Stalca underwent a renovation in 2011, followed by another extensive renovation in 2016, which included new wiring, plumbing, and paint as well as other updates, while ensuring the vessel's historic and elegant interior was preserved. In 2019, the Stalca was sold to an unnamed buyer after being listed for €1.1 million.

Pacha III of Monaco

The Pacha III, completed in 1936, is a luxurious motor yacht constructed of aluminum. It was built by Camper & Nicholsons and designed by Charles E. Nicholson. Jacques Grange, however, was responsible for the interior design, which consists of a deck made of teak and a hull of steel. The Pacha III can accommodate seven crew members and nine guests.

In 1990, the yacht was purchased by Princess Caroline of Monaco and her late husband Stefano Casiraghi, who tragically died in a boating accident not long after. Perhaps as a distraction from her grief, the princess decided to carry out the renovations she and Stefano had planned. The deck was rebuilt in aluminum, and 2-meter-long (about 7-foot) stabilizers were added to the hull. Inside, Caroline removed the living room fireplace and transformed the radio room into a bathroom.

The interior of the hull was brought back to its former glory with exquisite materials including oak and mahogany. Cured handrails were added as well as paneled ceilings and marine lamps for a Victorian feel, though bright and colorful fabrics were included for pops of color. The ship features multiple spaces including a large saloon with double doors, summer lounge, luxurious primary suite, galley, wardroom, and crew cabins. As of this writing, the Pacha III continues to be enjoyed by the Monaco royal family and is often seen sailing throughout the Mediterranean.

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THE KING OF SPAIN GIVES UP HIS PALMA-BASED ROYAL YACHT FORTUNA

King juan carlos last night announced that he is giving up his palma-based royal yacht and handing it over to the state..

Palma.—The 75-year-old king has had a spectacular fall from grace recently as scandals undermine public approval and his health weakens and last night the royal household announced that the crew of the Fortuna, which is based inside the Porto Pi naval base, has been told to stand down and that the king has no intention of it being used again by the royal family.

It will be handed over to the state. This is the third Spanish royal yacht and was built 12 years ago at a cost of 3'000 million pesetas, 18 million euros, by a group of 30 leading local and national businessmen and women who donated the yacht to the Balearic Tourism and Culture Foundation and part of the country's National Heritage.

It replaced the second Fortuna which had been a present from the Saudi Arabian King Fahd in 1979 to replace the original royal yacht of the same name which came into service in 1976 in Majorca where the Spanish royal family have traditionally spent their Easter and Summer holidays.

When the Fortuna was launched 12 years ago, it was one of the fastest yachts of its category but, due to the high running and maintenance costs, King Juan Carlos has used the yacht less and less over recent years.

The 41.5 metre yacht has a maximum speed of 65 knots and a highly sophisticated propulsion system with three Rolls Royce engines. Construction first began in 1997 at the Bazan shipyard in Cadiz and she took three years to complete. Inside she boasts a lounge, dining room, kitchen, four double bedrooms for eight guests and quarters for the eight-strong crew. For many years, the captain of the royal yacht was British and during the royal yacht's 12 years numerous members of royalty have been aboard including the First Lady of the United States, Michelle Obama and her youngest daughter Sasha as guests of the king and queen in 2010.

The last time the king went sailing aboard the Fortuna was on August 13 last year when he headed out alone with just the crew and moored up off Formentor, although other members of the royal family have used it more often. Sources familiar with palace thinking say the royal family is concerned about the decline in its popularity and is eager to avoid adding more uncertainty to the climate of crisis for ordinary Spaniards. The palace is monitoring public opinion extremely closely via social media and its own polls.

The king's image started to deteriorate with the investigation into his son-in-law's alleged embezzlement at the head of the not-for-profit Noos Foundation in 2011.

It plummeted in 2012 when it emerged that Juan Carlos had gone on an elephant-hunting trip to Africa just as the full force of Spain's economic crisis hit home. With one in four Spaniards living in poverty, the palace was exposed as hopelessly out of touch. The king made an unprecedented apology.

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Everything must go: Abdicating King of Spain knocks £2m off his bulletproof yacht that played host to Diana and Queen-to-be-Letizia

• Fortuna, a 136ft luxury yacht, was given to King Juan Carlos by a group of businesses in Majorca to promote tourism
• But he was forced to give it up after coming under fire for enjoying an elephant safari while Spaniards fought austerity
• Now the motor boat's asking price has been dropped from £8.1m to £6.6m - a drop of nearly 20% - by the agents
• The boat counts Princess Diana, Prince William and the Spanish queen-in-waiting Princess Letizia among its guests

By Steph Cockroft

Published: 07:00 EDT, 11 June 2014 | Updated: 12:59 EDT, 11 June 2014

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It was put on the market as a sign of solidarity by the king, to show his appreciation for the harsh austerity measures and rising unemployment rates facing his fellow Spaniards.

But it seems times are so austere that those selling King Juan Carlos's luxury royal yacht have had to slash its asking price - by nearly 20 per cent.

Fortuna, a 136ft motor boat used exclusively by the Spanish Royal Family and their guests - which has in the past included Princess Diana and Prince Charles - has had its price dropped from £8.1m to £6.6m.

Reduced: Fortuna, the luxury royal yacht used exclusively by the Spanish Royal Family, is on the market for £6.6m (€8.25) after King Juan Carlos decided to give it up in a show of solidarity as Spain battled high levels of unemployment and austerity

Famous faces: The boat has played host to several famous faces, including Princess Diana, Prince Charles and Prince William, pictured here with King Juan Carlos in 1990

The boat, which remains moored off the island of Majorca, where the royal family has a palace and goes on holiday each summer, was gifted to the state by around 30 executives with links to Majorca and other Balearic Islands in a bid to promote the islands.

But King Juan Carlos - who announced last week that he plans to abdicate to make way for his son Prince Felipe - was forced to renounce the use of the yacht, after coming under fire for going on an elephant safari in Bostwana in 2012, while the Spanish economy plunged further into crisis.

The holiday came just weeks after the monarch - who won wide respect in Spain for helping guide it through a political transition after the death of dictator Francisco Franco in 1975 - claimed to be 'kept awake at night by the plight of the Spain's youth unemployed'.

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But after the king announced he would hand over his prized possession, the group who bestowed the yacht, the Foundation of Balearic Culture and Tourism, said they wanted it back.

In a letter explaining their claim, they stressed that the gift had been given with the understanding that the yacht be used exclusively by the royal family.

Now the 140-tonne vessel, which was originally put on the market for the equivalent of €10m, has been reduced to €8.25m.

Spotted: Diana was seen on board the boat, which was bestowed to the king by the Foundation of Balearic Culture and Tourism in a bid to encourage tourism in the islands. When he announced he was giving up the boat, the state returned it to the foundation which put it up for sale

Smiles: King Constantine II of Greece, Princess Theodora of Greece, Princess Diana and King Juan Carlos enjoyed a summer holiday on the yacht in 1990 in Majorca, Spain

Happy families: King Juan Carlos and Queen Sofia, Prince Felipe - who is due to take over from his father imminently - and wife Princess Letizia, plus all the Spanish Royal family members were often seen boating on the yacht. In this picture, they enjoyed a trip around the Balearic Islands

The queens: Queen-in-waiting Princess Letizia, left, and Queen Sofia of Spain, right, were pictured on board the royal yacht in 2006 with Princess Leonor as they attended the Copa del Rey sailing trophy

Arrival Yachts, the agency managing the sale, said the price had been dropped as part of its strategy to indicate the seller's wish to negotiate and not because there was a lack of interest. It said all serious offers would now be considered.

The boat, which is said to be more like an aircraft in design, was named as the fastest in the world of its type in 2000 when it reached 68 knots.

As well as a plush interior and a lavish deck which boasts 360 degree views out to sea, anyone buying the boat will also be able to count themselves in good company.

Inside: The 140-tonne vessel was named as the fastest in the world of its type in 2000 - when it reached 68 knots. It is said to be more like an aircraft in its design and represents 'the pinnacle' of this type of yacht, which includes a lavish interior

The master bedroom on the yacht, which is one of four cabins equipped with an en-suite, is large and benefits from good sound-proofing. There is also a large, flat-screen television, a music system and a host of other mod-cons inside the royal yacht

The boat, which is stored in a special dock shed in Palma, was also built with a bullet-proof structure and was deemed to be the most advanced of its type in the world when it was made

The spacious boat has been managed by a highly-specialised crew, personalised for the king, who have kept the boat up to date with all the latest and best equipment

It has been at the centre of several glamorous photo opportunities over the years - perhaps most memorably of a windswept Princess Diana and Prince Charles sunning themselves alongside the Spanish king.

Glamorous Princess Letizia, the queen-in-waiting, and the rest of the royal family are also regularly spotted on the yacht during the summer months.

The boat includes an interior which was created by Milan-based designer Celeste Della Anna, which includes panelled  wood with stitched tan leather, a beige carpet with Japanese accents and cream-coloured ceilings.

Nigel Evans from Arrival Yachts, which is marketing the yacht, which includes this kitchen, said it had been specially-designed to minimise noise and vibration from its 20,000 horsepower engine

It also has four cabins which sleep eight people, all equipped with luxury en-suites, as well as a spacious flybridge, protected by a wraparound windscreen.

There is also a large, flat screen television, a music system and other mod-cons such as an ice maker and a dough mixing machine for bread.

The boat, which is stored in a special dock shed in Palma, also benefits from a bullet-proof structure and was deemed to be the most advanced of its type in the world when it was made.

The 136ft royal yacht, which has welcomed several famous guests over the years, is moored off the island of Majorca where the royal family has a palace and goes on holiday each summer

The moment he gave it all up: The Spanish king, pictured right, was forced to renounce the boat after he came under fire for enjoying an elephant safari in Botswana in April 2012 as his country fought some of the highest unemployment levels in its history

FEATURES OF THE ROYAL YACHT

Bulletproof exterior

Measures 136ft

Weighs 140 tonnes

20,000 horsepower engine

Three turbines

Nigel Wales from the company said it was also managed by a highly-specialised crew who have kept the boat up to date with all the latest and top-of-the-range equipment.

He said: 'The recent reduction in price is part of our strategy to first locate the vessel in the market, then indicate to potential buyers the seller’s wish to negotiate.Hence the reduction from €10m to €8.25m.

'The quality of construction the yacht is similar to that of an aircraft, as you would imagine when the hull is designed to handle over 20,000 horsepower with all three turbines at full power.

'The yacht represented the pinnacle of design for this type of vessel, in terms of performance whilst minimising noise and vibration, for the client’s enjoyment.

'As a qualified naval architect I am proud to be representing ‘Foners’, which obviously helps when talking to potential clients and brokers.'

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Lounge bar, lounge salon, lobby as well as living and dining rooms of the KOGO were created in Mertingen. Design: Terence Disdale.

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Long Holes Look Intimidating, but It’s the Short Ones That Often Befuddle Golfers

At the British Open at Royal Troon, a short hole called the Postage Stamp has ended many title runs.

By Paul Sullivan

The British Open at Royal Troon in Scotland this week might help answer a question vexing professional golf. Is the antidote to golfers hitting increasingly long drives creating holes that are even longer? Or is it the opposite: incredible shortness?

Troon, which is hosting its 10th Open this week, is famous for the Postage Stamp , the name given to its par-3 eighth hole, which is 123 yards on the card but may play under 100 yards this week if the tees are moved up and the pin is put in the front of the green. A tiny green surrounded by five bunkers, the hole has been a feature of the course since 1909.

It’s also a hole length that any golfer can hit. But under pressure, with the wind blowing and a tricky pin position, it’s a length that tests the skill of the most elite golfers.

This year, Troon will also have its opposite. It will have the longest hole in Open history , the par-5 sixth hole that will measure 623 yards. It beats by three yards the 15th hole at Royal Liverpool in last year’s Open.

In some ways, lengthening holes for top pros is akin to billionaires competing to have the longest yacht: It doesn’t really matter at the end of the day. Pros hit the ball so far that length alone doesn’t deter them.

What does is the strategy inherent in the design of the hole. This is where these two opposites at Troon open up a robust debate among top architects as to which matters more today: extreme length or extreme shortness?

“Short holes just fascinate me,” said Ben Crenshaw , a two-time major champion turned golf course architect with his partner Bill Coore. “Some of the great short holes in the world provide a test of accuracy and bravery in a way that a lot of other holes don’t. The Postage Stamp at Troon has been the scene of a lot of carnage and bravery.”

“The long holes are always a test over there because of the conditions,” Crenshaw added. “You only hope that you don’t reach a long hole that’s into the wind. Then it becomes a very difficult proposition. It’s a test that you will see over there.”

There was a time not so long ago when some par-5s were considered unreachable in two shots. (Hitting a par-5 in two, instead of three, is an advantage for players looking to make up ground on the rest of the field, with a birdie or maybe an eagle.)

In 1991, John Daly captivated the golfing world with how far he hit the ball in winning the P.G.A. Championship as a rookie. Two years later, when the U.S. Open was played at Baltusrol Golf Club’s Lower Course, Daly electrified the crowd when he reached the 630-yard 17th in two shots, then the only person to have done that in a tournament.

Some clubs have gone to extreme lengths to protect their holes. The 12th hole at Oakmont Country Club is one. Oakmont, which has hosted nine United States Opens and three P.G.A. Championships, is considered among the toughest golf courses in the United States. And the par-5 12th, always over 600 yards, was considered unreachable in two shots — until it wasn’t. So the last time the club hosted the U.S. Open in 2016, that hole was stretched to 684 yards, making it the longest U.S. Open hole ever.

Not everyone is a fan of that strategy.

“It’s almost impossible now to build a hole that’s unreachable in two, short of making it 700 yards, and I wouldn’t want to do that anyway,” said Tom Doak, who designed the Renaissance Club where the Scottish Open was played last week. “It’s better when the long hitter thinks he can get there, so he will risk getting in trouble to do it.”

Michael Hurdzan, a designer of Erin Hills, the longest course to ever host a U.S. Open at 7,845 yards, said being uncertain or uncomfortable is a better way to challenge elite players.

“If one were silly enough to play the maximum yardage on every hole, Erin Hills would total over 8,500 yards,” he said. “Legend has it that Patrick Reed did that on a practice day and shot 73. Length is not a strong deterrent to scoring among the elite players of today, but making them think is, and that is what a short hole can do.”

The ninth at Erin Hills is just 135 yards with bunkers surrounding it; it made many players at the 2017 U.S. Open unsure.

“The thing about Troon that I love is the capriciousness of the fairways,” Hurdzan said. “That ball can land and scoot one way or the other. They’re trying to hit it hard but now they have to hit it hard and true.”

While holes that are too long can open up a player to shooting many shots over par, they can also have the opposite effect in: removing the temptation to make a heroic shot.

So what needs to be done to keep these championship courses challenging?

Doak had several suggestions. One was a tee-shot hazard so challenging — say a deep, high-walled bunker — that it almost certainly costs players a stroke. Another is to penalize pros with a shot even they don’t like.

“My preference is to have the green bunkered more loosely on a par-5, so the player trying to hit driver off the deck might leave himself a 40-yard bunker shot,” he said. “Even pros hate those. That same bunker shouldn’t bother the guy playing three careful shots.”

A common feature is to put water near the green to claim any errant shots, but Hurdzan criticized that idea as uncreative.

“You want to reduce the margin of error as much as you can at the green, and you can do it with slopes,” he said. “We saw it at Pinehurst for the U.S. Open with all those roll offs. We’re going to see some of that at Troon because those greens have a lot of roll off. You want to design the Saturday and Sunday pin placements with small margins for error.”

Crenshaw, who restored Pinehurst No. 2 in 2011, said those sloping greens were what Donald Ross, the original designer who came from the links of Dornoch in Scotland, intended for championship golf even 100 years ago.

“Those greens defend it so well in so many different ways,” Crenshaw said. “An honest shot has to pull into that green with the proper strength. There are so many [curved] false fronts, if you don’t get the ball up into the green it will roll back on you. You have to play a conservative shot and not go for as many flagsticks. And when you do miss the greens, you’re faced with many delicate shots.”

This is where Crenshaw, a two-time winner of the Masters Tournament, said short befuddled great players more than long.

“Think of the 12th hole at Augusta.,” he said. “That will test you no matter what. It’s the shortest hole on that golf course. And it gets all the attention.”

Of course, at a championship venue like Troon, sometimes both short and long, can be problematic.

In 1982, Bobby Clampett playing in his first Open Championship at age 22 led by five after two rounds. He was off to a solid start with a few more birdies in the third round.

Then at the sixth, the longest hole back then at 577 yards, he carded a triple-bogey 8 that sent him reeling.

In 1997, Tiger Woods, who had turned professional the year before, was in contention at Troon until he took a 6 on the par-3 Postage Stamp hole. “That eighth hole at Troon tests you in all conditions,” Crenshaw said, “because the target is so small.”

And that may make it the better defense to today’s length debate.

Paul Sullivan, the  Wealth Matters  columnist from 2008 to 2021, is the founder of  The Company of Dads , a work and parenting site aimed at fathers. He is also the author of  The Thin Green Line : The Money Secrets of the Super Wealthy and  Clutch : Why Some People Excel Under Pressure and Others Don’t.  @sullivanpaul More about Paul Sullivan

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