Villa Vie's 'forever' cruise ends after 750 days amid rising fuel costs and financial strain
The Villa Vie Odyssey, marketed as a continuous cruise, was halted in Cambodia after 750 days as the operator cited soaring fuel prices and funding shortfalls, leaving passengers to disembark and the ship slated for auction.
Florida-based Villa Vie Residences announced on Oct. 28 that the Odyssey, its flagship residential cruise ship, would cease operations after about 750 days at sea. The decision was attributed in part to sharply higher fuel prices following the Iran-related conflict, which has pressured the cruise industry worldwide.
The Odyssey, launched in 2024 with a planned itinerary of 1,301 days, carried roughly 200 passengers who had invested significant sums and, in many cases, sold personal assets to join the venture. Passengers reported a series of escalating cash calls from the company as funding became tight.
"It was managed really badly. Money was just not spent properly. It looks like they were really hemorrhaging money from three months in," said Mary Ann Demsar, a former passenger from Ontario.
"The cash calls became more frequent and became more outrageous," said Gian Perroni, an Alberta entrepreneur who sold his home and belongings to board the ship.
Villa Vie said it continues to explore financing options but has not secured a transaction. Founder Mikael Petterson told Business Insider that the company would have been able to complete the project if not for the Iran war.
When the ship docked in Sihanoukville, Cambodia, crew members assisted passengers, many of whom were retirees with limited mobility, in packing and leaving the vessel. Cambodian authorities provided temporary accommodation and meals.
"Everybody out by 2 p.m.," quoted a midnight message posted by co-founder Kathy Villalba, prompting a rapid evacuation for passengers who had made the ship their home.
The Odyssey is expected to be auctioned to satisfy creditors as Villa Vie faces possible bankruptcy. The company’s website still promotes future residential cruises, including a second ship slated for launch in early 2029.
Despite the setback, some former passengers remain optimistic about the concept of continuous cruising, citing lower long-term living costs compared with traditional care facilities.