What the Villa Vie Odyssey Suspension Means for Residents Who Lived at Sea

More than 200 people who bought cabins to live permanently aboard a cruise ship have lost their homes. Florida-based Villa Vie Residences said Tuesday, Oct. 27, that it was suspending operations of the Villa Vie Odyssey, which has been circling the globe since September 2024. Residents were told to leave the ship while it was docked in Sihanoukville, Cambodia.

The company blamed a sharp rise in fuel costs that followed the outbreak of the Iran war in late February and the resulting disruption to global energy markets, according to GreekReporter.com. The company said it is seeking emergency financing and restructuring, but no financing deal has been finalized.

Why it matters for residents and their savings

The Associated Press reported that the ship carried 203 passengers from 15 countries, mostly Americans, plus 156 crew members. Many had bought cabins as permanent homes and put a large share of their savings into what the company marketed as an alternative to traditional retirement.

According to the company's price list, five-year arrangements started at $59,999 and permanent cabins at $119,999. Monthly fees of roughly $3,299 to $9,500 covered meals, housekeeping, internet and other services. Residents now have to find somewhere else to live, and the company has said the outcome of its restructuring is uncertain.

One resident, California retiree Sharon Lane, previously told CNN she had invested her life savings in a cabin and planned to stay aboard as long as the ship sailed. GreekReporter.com noted that her situation reflects the financial commitment many passengers made, with some selling homes or reorganizing their lives around living at sea.

How fuel costs broke the model

Villa Vie said fuel costs per cabin, which previously averaged about $1,800 a month, rose to between $6,000 and $8,000 in parts of Asia. The company said it tried to hold down expenses by slowing the ship and lengthening port stays. Those steps did not cover the mounting losses, it said, and passing the added costs on to residents was not practical.

Holly Hennessy, a British resident who lived aboard with her cat, Captain, told CNN that residents had earlier been asked to make extra payments toward fuel. She also said the ship had cut back on air conditioning to save energy. She described the experience as extraordinary despite the financial problems that ended it.

What residents faced on the ground

Residents had little warning. Long Dimanche, Cambodia's deputy provincial governor, said they were given about seven hours to gather their belongings and leave the vessel. Some then flew out of Cambodia, while others stayed in Sihanoukville as temporary lodging was considered.

The 640-foot Odyssey left Belfast in September 2024 after months of technical delays. Its planned route covered more than 400 destinations across seven continents. According to the AP, it reached Cambodia on Oct. 23 for a five-day visit before heading on to Vietnam. Its schedule ran through November 2027, and the company had announced plans for a second residential ship in 2029.

What happens next

• Villa Vie said it will pursue restructuring and recapitalization over the next 60 days while helping displaced residents and employees.
• The company acknowledged that no financing agreement is in place.
• Cambodian officials said the vessel is expected to refuel and depart on Oct. 31.

The company has not said whether or when residents could return to their cabins.

Around Prague, based on reporting by GreekReporter.com