Lender Seizes Villa Vie's 200-Passenger Odyssey, Sending Ship to Singapore for Auction
Updated
Updated · The New York Times · Nov 6
Lender Seizes Villa Vie's 200-Passenger Odyssey, Sending Ship to Singapore for Auction
3 articles · Updated · The New York Times · Nov 6
Summary
Villa Vie’s main lender took control of the Odyssey on Wednesday after the residential cruise ship halted in Cambodia and is now sending it to Singapore for a possible auction.
Hours before passengers were forced off, operators said they could no longer afford fuel, ending a venture marketed as a long-term “home at sea.”
About 200 passengers were stranded in Southeast Asia, with belongings still on board; some had sold homes or committed retirement savings to live on the ship.
Cabin buyers had paid roughly $120,000 to $440,000 for lifetime suites, or about $50,000 for five-year plans, plus monthly fees that reached $11,000.
The collapse adds to a string of failed residential cruise ventures, where high maintenance costs and inadequate fee income have undermined operations.