The term 'luxury vessel' can be summarized as a YACHT, which is a five-letter word. A YACHT is a recreational boat or ship that is used for pleasure trips and other leisure activities. It is typically larger than a sailboat and is usually equipped with modern amenities such as air conditioning, a kitchen, and a lounge area. Yachts are often used for luxury cruises and vacations, and they are often owned by wealthy individuals or companies.