Villa Vie Odyssey Residential Cruise
‘Never-Ending’ Sail Comes To Sad End …
Fuel Costs Sink Big Dream
Published
Villa Vie Odyssey residents — who’ve been living on the cruise ship — were ordered off the ship in Cambodia … and the residential cruise line is blaming skyrocketing fuel prices.
Villa Vie announced Tuesday that it’s suspended operations because the monthly fuel expenses per cabin had more than tripled in parts of Asia, leaving residents up a creek.
Resident Randy Cassingham posted that CEO Kathy Villaba shared that they were “unable to secure the fuel necessary to continue operations,” calling it a “temporary layup” and ordering residents to disembark by 2 PM.
The company says the astronomical costs are the result of the war in Iran and the situation in the Strait of Hormuz, which is crucial for oil exports across the globe.
Villa Vie Residences says … “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.”
But they explained they still can’t get out of the red, adding … “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.”
Villa Vie Odyssey’s permanent cabins were sold anywhere from $120K up to $440K, inviting residents to live on a never-ending cruise.
The company said they didn’t want to put the burden of increased fuel costs on their residents, saying it’s “not a realistic solution.”
Villa Vie Residences said … “Our focus now is on supporting residents, crew, and employees while we work toward restructuring and recapitalization over the next 60 days. That work is ongoing, and no outcome is assured.”
The company says it’s working to help residents disembark and find temporary living arrangements. They didn’t say how many residents are now stranded without a permanent home.
It’s unclear when, if ever, residents will be allowed back on the ship.
