Internal documents show failed scramble to save "forever cruise"
Summary
Villa Vie Residences struggled to keep its MV Odyssey cruise operating after it ran short of money, according to internal documents and people familiar with the company. The ship’s financial troubles included unpaid bills and an emergency fundraising effort, before the company suspended operations in Cambodia and left more than 200 passengers and dozens of crew members stranded.Key Facts
- The Odyssey began its continuous around-the-world cruise in October 2024, offering passengers the option to buy cabins and live aboard.
- In early August, the ship was docked in Singapore and Villa Vie warned it urgently needed to raise money.
- A resident paid a fuel supplier $400,000 from a personal checking account to help the ship continue its journey, sources told CBS News.
- Internal documents showed the company owed hundreds of thousands of dollars to port agents, fuel companies, food vendors and crew members.
- Villa Vie warned residents on Aug. 4 that it might halt operations, lay off staff and repatriate the crew.
- The company launched a discounted cabin sales program for current passengers to raise emergency funds; by Aug. 18, it said more than 20 cabins had been committed.
- One document showed monthly operating costs of $3.1 million and projected a $600,000 loss even at full occupancy.
- Villa Vie suspended operations in Cambodia, leaving more than 200 passengers and dozens of crew members stranded, according to the article.
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