Residential round-the-world cruise postponed again, free hotels eliminated

Villa Vie Odyssey prepared to embark on a never-ending vacation that would circle the world every 3 1/2 years, stopping in 147 countries and 425 destinations along the way – all while offering travelers the comfort of a traditional cruise.

Double-occupancy cabins start at $120,000, with an additional monthly fee of $1,750 per person.

The highly anticipated vessel was originally scheduled to depart in May following the company’s purchase of the more than 30-year-old Braemar from Fred Olsen Cruise Lines, now renamed Villa Vie Odyssey. However, issues such as rudder stocks and the ship’s old certifications have since delayed its departure.

Mikael Petterson, founder and CEO of Villa Vie, told Business Insider in an email in early September that his “best guess” is that the Odyssey will depart on September 9 or 10, noting that it is still a “moving target if it is either of those days.”

But on September 9, instead of embarking on their round-the-world trip, shoppers were notified of yet another delay.

The residential vessel recently completed its much-anticipated sea trials, a milestone “test drive” for cruise ships. However, in the memo to clients, Petterson told potential residents that the ship is still awaiting the Passenger Ship Safety Certificate, which is required to set sail.

“We really are at the end of the tunnel and we can finally see the light,” he said.

Since May, more than 100 Villa Vie buyers have remained in the UK awaiting the ship’s departure. Residents can spend their days on the Odyssey, but are not allowed to stay overnight. Meanwhile, the company had provided shuttles to and from the ship, food, drinks, excursions and accommodation – or a daily allowance for those who “chose to do their own work”.

That is, until Monday. In the memo, Villa Vie asked residents to pay for their own housing for the next seven days “or so” until the floating condominium receives full certification.

Since the initial delay, Petterson told BI that Villa Vie has paid nearly $2 million for its buyers’ hotels. “I wouldn’t say it’s crushing, but it adds to the stress of not being launched and still not making revenue,” he said.

For some prospective tenants, such as Angela and Stephen Theriac, the announcement means they will have to leave the UK, where they have been since Odyssey’s original departure date in May, to return to the US.

“Seven days is a long time in Belfast,” the couple said in a video posted on their YouTube channel, MidLife Cruising. “Prices are at least $200 a night. It’s cheaper for us to fly back to the US.”