A never-ending cruise reached its final destination Tuesday. The Villa Vie Odyssey dropped its residents in Cambodia as its parent company ceased operations due to high fuel costs.
Passengers lived full-time on the Odyssey as it sailed around the globe. Villa Vie announced that it is helping residents find temporary accommodations.
The organization cited the ongoing military conflict in Iran — and the associated spike in fuel prices — as the driving factor in its decision.
People were interested in these podcasts
“Since the conflict began in late February, we have taken significant steps to reduce fuel consumption, including slowing the itinerary and spending more time in port,” Villa Vie said in a statement. “Those measures have not been enough to offset the extraordinary increase in fuel costs, and we have been unable to continue carrying the resulting operating losses.”
Officials from the company did not announce any plans to continue its operations. “No outcome is assured,” they said, noting “no financing or transaction has been finalized.”
Monthly fuel costs soared from $1,8000 per cabin to more than $6,000.
“Passing the full [cost] increase on to residents is not a realistic solution. Our focus now is on supporting residents, crew, and employees while we work toward restructuring and recapitalization over the next 60 days,” Villa Vie’s statement said. “That work is ongoing.”
Residents reported that they had an eight-hour notice before being forced to disembark.
“We knew leaving was a possibility, but the eight-hour notice still surprised us,” Lanette Canen, a couple who lived aboard the Odyssey, told Business Insider. “It was difficult to process the news while packing up our life and saying goodbye to the place we had come to love.”
Permanent cabins on the ship cost between $119,999 and $439,999. Five-year residences on board started at $59,999.
Contact the author
Please read our comment policy before commenting.