VICTORIA -- A luxury ferry service between Victoria's Inner Harbour and downtown Vancouver has abruptly shut down.

The private ferry company, V2V Vacations, announced its immediate closure on Monday after three years of operation between B.C.'s capital and the province's largest city.

In the announcement, V2V says that despite "double-digit growth in passenger numbers" in 2019, overall financial prospects for 2020 did not appear healthy enough to continue the business.

"We are disappointed but also acutely aware of the pressures and challenges that we faced in running such an ambitious venture," said Julian Wright, general manager of V2V Vacations, in the company's announcement Monday.

"We thank our team for their skills, service and commitment," said Wright. "We also thank our partners, suppliers, tourism organizations, harbour authorities and associates for their support and collaboration over these past three years. Lastly, we thank our customers for their patronage, it has been a pleasure hosting you onboard."

V2V Vacations first launched in Victoria as a primarily tourist-marketed ferry service. However, in 2019 the company began to offer discounted prices for B.C. residents.

Sailings aboard V2V Vacations included 360-degree views of B.C.'s coast, leather seating which included USB ports and power outlets in each seat, Wi-Fi, and an onboard menu which included local craft beers, B.C. wines and fresh locally sourced food. 

The company's 242-seat high speed catamaran vessel will now remain docked in Victoria for the foreseeable future.