Passengers leave ship during 60-day restructuring and recapitalization
Villa Vie Residences said Tuesday that it had ended the 42-month, round-the-world residential cruise aboard the Villa Vie Odyssey in Cambodia after fuel costs made the operating model unsustainable. About 200 passengers were leaving the ship in Sihanoukville after receiving fewer than 24 hours to disembark, according to resident Holly Hennessey. The company said it was working with residents on disembarkation and temporary living arrangements as it pursued restructuring and recapitalization.
The Florida-based operator said the monthly fuel-equivalent cost per cabin had jumped fourfold to $8,000 in parts of Asia. Villa Vie Residences said: “The company cannot simply pass increases of that scale on to residents, and the resulting shortfall has placed its current operating model under unsustainable financial pressure.”
“The company is working with residents to coordinate disembarkation and identify temporary living arrangements,” Villa Vie Residences said. The operator called the period difficult and disruptive for residents, crew members and employees and said it was working to support those affected as plans developed.
Villa Vie Residences said it was working on “restructuring and recapitalization over the next 60 days,” stressed that the effort was ongoing and said “no outcome is assured.” Hennessey said she was waiting to learn what would happen to the Odyssey and whether its voyage would resume.
Speaking from the port city of Sihanoukville, Hennessey said she was not completely surprised by the abrupt ending after being asked to pay a fuel surcharge in May. “It’s been incredibly tough since the war [with Iran],” she said. She added that the ship had been trying to cut its energy consumption by restricting air conditioning. “It was not sustainable as it was set up,” she said. “That doesn’t diminish the memories, the adventure, the very special moments of having been a true global citizen.”
Passengers were being accommodated in hotels across Sihanoukville, while others left on their own accord and traveled over land, Hennessey said. She had shared a cabin with her cat, Captain, since the Odyssey set sail from Belfast in October 2024. Hennessey said she was holding out hope that the ship would resume its voyage. “Until they say we are done — done done — I am not giving up. I could never duplicate this lifestyle. The idea of going home? It would be so trite. Cambodia’s not the worst place to hang out,” she said.
The commercial structure behind the voyage included long-term cabin leases and residency terms. The Odyssey had been scheduled to make 400 stops in 147 countries, with monthly cabin leases starting at $3,499. A five-year residency started at $59,999, while a permanent home on the high seas was offered at up to $119,999. Those amounts covered a cabin only, with additional fees ranging from $3,299 to $9,500 for food, drinks, Wi-Fi, medical care, housekeeping and other costs.
The 656-foot Odyssey was built in 1993 and can accommodate 650 passengers. In 2025, Villa Vie Residences estimated that the vessel was good for another 15 years at sea.
The launch had also been delayed before the voyage ended. After at least two false starts, the Odyssey finally set sail from Northern Ireland on Oct. 2, 2024, four months behind its scheduled May 30 departure. The ship initially entered the Queens Island shipyard in Belfast for refitting in April 2024, but mechanical issues with its rudder and gearbox prevented it from being cleared to go to sea. Passengers who had flown in to take up their cabins waited in Belfast through the summer and into the fall.
Passengers’ immediate plans remained divided between hotel stays and travel over land, according to Hennessey. Crew members and employees were among those Villa Vie said it was trying to support as plans developed. Hennessey continued to hold out hope that the Odyssey would resume its voyage. The restructuring and recapitalization effort remained ongoing, and Villa Vie said “no outcome is assured.”