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They bought cabins to live on a luxury cruise ship. High fuel costs got them kicked off in Cambodia.
NBC News • • business
Key Points:
- The residential cruise ship The Odyssey halted operations in Cambodia due to soaring fuel costs, leaving passengers stranded after being ordered to disembark by operator Villa Vie Residences.
- The Florida-based company cited a spike in global oil prices, exacerbated by the war with Iran, as the primary reason for suspending the ship's services despite efforts to reduce fuel consumption.
- The Odyssey, which launched three years ago and had 85% of its cabins sold or rented, can accommodate 650 residents, though the exact number on board during the halt is unclear.
- Residents expressed frustration and concern, with some having recently invested heavily in their cabins, unaware of the ship’s financial instability and impending shutdown.
- Villa Vie Residences is working on restructuring and recapitalization efforts over the next 60 days but acknowledged that no outcome is guaranteed.
