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Inside the Villa Vie Odyssey's Round-the-World Cruise Amid Cash Calls
Villa Vie's Odyssey world cruise kept circling as cash calls mounted and finances worsened, residents say.
Key points
- The Odyssey halted in Cambodia on Tuesday, and passengers were given eight hours to pack up and leave.
- The ship called at 198 ports between October 2024 and October 2026, 28% fewer than originally planned.
- About 88% of Villa Vie Residences is owned by residents, who were called upon when money got tight, Petterson said.
Why it matters. Residents who bought cabins for $119,999 to $439,999 are exposed to cash calls, because as Petterson put it, there is no private equity and no big owner.
Villa Vie Residences' cruise ship Odyssey halted in Cambodia on Tuesday, giving passengers eight hours to leave. Cofounder Mikael Petterson said rising fuel costs and logistical challenges drove itinerary changes, and about 88% of the company is resident-owned. The ship called at only 198 ports between October 2024 and October 2026, 28% fewer than originally planned. CEO Kathy Villalba did not respond to comment requests, but her deleted apology said it was talking to investors.
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Inside the Villa Vie Odyssey's Round-the-World Cruise Amid Cash Calls
Villa Vie Residences promised residents a round-the-world voyage, but its cruise ship, the Odyssey, kept circling one corner of the route as finances worsened. Business Insider reports that services deteriorated and cash calls mounted during the final months. Claude Sadovsky, who joined when the ship first sailed from Belfast in September 2024, said the voyage felt like going in smaller and smaller circles. By early October, he had grown frustrated enough with itinerary changes to leave the ship. The account is based on interviews with people aboard.