A German passenger ship of the Hamburg-America Line of some 4,409 gross register tonnes (GRT). She is credited with having been the first purpose-built cruise ship. Launched on June 29, 1900 she served with HAPAG until December 16, 1906 after being accidentally grounded off Jamaica.

In 1886, Albert Ballin joined HAPAG (Hamburg-Amerikanische-Packetfahrt-Actien-Gesellschaft ) as manager of its passage department. Thirteen years later, in 1899, he became Managing Director. It was during this term that he realised his company's largest and flagship vessel, the Augusta Victoria, lay largely unused during the winter season. Due to inclement weather, travellers largely stayed away from the North Atlantic route. It was then that Ballin, despite criticism from his fellow directors at HAPAG and other steamship companies, planned to send the Augusta Victoria on a 58-day "pleasure voyage" from Cuxhaven, Germany to the Mediterranean and Orient. This extended cruise would include well-planned excursions ashore to ports-of-call along the route and Ballin would be a passenger himself. The voyage was a success and similar ones were planned.

Despite their increasing success, these early cruises, called "excursions", were difficult to plan with existing ships. Constructed as ocean liners, they did not meet the requirements of the pleasure-seeking market. They offered few amenities aboard. This became apparent during long stretches at sea. Furthermore their construction as multi-class vessels also proved a hindrance as such vessels provided restricted access to deck space. Whatever deck space there was, was mostly sheltered, and designed to accommodate the rigours of the North Atlantic instead of the seas of more southern climes. Ballin believed that only a vessel specifically designed for cruising would be appropriate. Furthermore, such a vessel could spend the entire year doing so.

In 1899, Ballin became director at HAPAG and months later, in 1900, commissioned Blohm & Voss to construct such a ship, to be named after Kaiser Wilhelm II's daughter. The ship was launched on June 29, 1900 and christened Prinzessin Victoria Luise.

With cruises targeted toward wealthy travelers, the Victoria Luise was designed to look more like a private yacht than any of her commercial counterparts. She had a trim hull 52.2 feet wide by 407.5 feet long. She was painted all white with two masts, one fore and aft, and two tall, slim funnels amidships. She had a rounded stern and a richly decorated clipper bow, with bowsprit, ending in a figurehead of the German princess.

Onboard, she also did not look like other commercial vessels of the time. She contained 120 cabins, all first class. All staterooms were luxuriously appointed. Reportedly, Ballin instituted some interior modifications recommended by the Emperor. There was also a library, a gymnasium, and a darkroom for the development of film by amateur photographers. Pushing all this at a steady 15 knots (28 km/h) were quadruple expansion steam engines. After fitting out, the Kaiser formally inspected the vessel and was unhappy that it was slightly longer than the royal yacht Hohenzollern.