Photo: STR / AFP / Getty Images
A residential cruise ship, the Villa Vie Odyssey, abruptly ended its multi-year world voyage in Sihanoukville, Cambodia, due to soaring fuel prices, leaving more than 200 residents without their floating homes. The Florida-based Villa Vie Residences suspended operations after monthly fuel costs per cabin rose from an average of $1,800 to as much as $8,000 in parts of Asia, a spike the company attributed to the ongoing war in Iran and restricted oil supply through the Strait of Hormuz.
The Odyssey had set sail in October 2024 from Belfast, Northern Ireland, for a planned three-and-a-half-year journey covering seven continents. Passengers, most of them Americans, purchased suites as permanent or five-year residences, some paying over $200,000, with monthly fees ranging from $3,299 to $9,500 for living expenses.
Company officials said their attempts to reduce fuel use—such as staying longer in port—were not enough to offset the cost increases. “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,” Villa Vie Residences stated in a news release.
Villa Vie Residences is working with residents to facilitate disembarkation and find temporary accommodations. The company is also exploring restructuring and recapitalization options but has not confirmed whether refunds or compensation will be provided.
There is currently no set date for the ship’s departure from Cambodia, and the future of the Odyssey’s residential cruise model remains uncertain.