Villa Vie Residential Ship Enters Lay Up Due to Financial Issues

Villa Vie’s Odyssey has entered what the company has said is a temporary lay up period in the Far East following financial challenges.

In a letter sent to residents aboard, CEO Kathy Villalbe said that the company was “unable to secure the fuel necessary to continue operations … as a result the Odyssey will enter a temporary layup this afternoon with crew remaining onboard to maintain the vessel and its essential systems.”

“It was a cascade of problems piling up on one another, from the business model to mistakes by management to the mentioned crisis in fuel cost and availability, and more,” said a post on ResidentialCruising.com, by Randy Cassingham, a resident aboard.

The lay up followed several requests by the company for additional funds from residents, according to sources aboard speaking to Cruise Industry News. Most recently, the company asked residents for an additional $360,000 to cover fuel costs, the sources said.

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