A residential cruise ship that had been circumnavigating the globe for two years came to an abrupt halt on Tuesday after its operators announced they had exhausted their funds for fuel. Villa Vie Residences, a Florida-based startup, informed approximately 200 passengers just hours before disembarkation that they must leave the vessel while it was docked in the Cambodian port city of Sihanoukville.
The company stated that operations were suspended to address extraordinary increases in fuel costs and to evaluate alternatives for restructuring and recapitalization. Villa Vie had marketed itself as one of several companies offering endless, around-the-world cruises where passengers could live more cheaply than on land. The most expensive options provided ownership of a suite and permanent residency on the Odyssey for the ship's lifespan, ranging from $119,999 to $439,999, plus fixed monthly fees between $3,500 and $11,000. A five-year ownership plan started at $49,999 with additional monthly charges, while flexible and short-term rental rates were also available.
However, few companies in this sector have successfully delivered on their promises. In 2023, a three-year cruise offered by Miray Cruises collapsed following delays and operational mishaps, leaving prospective passengers out of hundreds of thousands of dollars. Currently, The World remains the only financially successful residential cruise ship in operation, utilizing a private co-op ownership model where passengers pay millions to purchase onboard apartments.
Sources: The New York Times Travel.