Passengers Who Sold Their Homes for a $120K ‘Perpetual Cruise’ Are Now Stranded in Cambodia

Randy Cassingham thought he was embarking on the adventure of a lifetime—a never-ending cruise that would take him around the world and across multiple continents. That was the promise of Villa Vie Residences’ Odyssey cruise, set to visit 147 countries and 425 ports over a period of 3.5 years. 

Passengers had three options: They could rent a villa through the Odyssey’s “rent-to-own” program starting at $3,499 a month, which allowed passengers to join the cruise at any point along the way. Or they could purchase a five-year residency on the cruise ship starting at $59,999. The final option was a permanent residency—good for the life of the cruise ship—which started at $119,999, with villa suites going for as much as $439,999. Villa Vie is still advertising these cabins as available on its website.   

Cassingham was among many passengers who sold their belongings—including their homes—for the chance to live aboard a cruise ship for the rest of his life.  

“We were planning on being on for, you know, forever,” Cassingham told the Times Radio. “They were guaranteeing that this ship would last 15 years and I think it was in good enough shape that it could have. And that was our plan. We were going to stay there until we decided we didn't want to do it anymore or we died. One or the other.” 

But just two years on, Cassingham’s “never-ending cruise” came to an abrupt end. 

Earlier this week, Villa Vie told the 200 or so passengers aboard the Odyssey that they would have to disembark in Cambodia because the company could no longer afford to run the ship. 

Villa Vie said the culprit was the rising cost of fuel due to the war in Iran and repeated closures of the Strait of Hormuz. 

According to Villa Vie’s estimates, per-cabin fuel expenses rose from $1,800 to between $6,000 and $8,000 per month, putting “its current operating model under unsustainable financial pressure.”

“Since the conflict [in Iran] began in late February, we have taken significant steps to reduce fuel consumption, including slowing the itinerary and spending more time in port,” the company’s statement continued. “Those measures have not been enough to offset the extraordinary increase in fuel costs, and we have been unable to continue carrying the resulting operating losses.”

It also probably didn't help that the 650-capacity ship was never fully booked. Villa Vie said on its website that the Odyssey was 85% sold, but Cassingham said he believed that the ship topped out at around 350 passengers.

Residents said they had been aware of ongoing financial issues.

Pamela Reckamp told NBC News that at a September meeting, ship officials asked residents to help raise $1 million so they could refuel the ship in Vietnam. 

On Monday morning, passengers heard an announcement coming over the loudspeaker: “Unfortunately, they were unable to secure the fuel necessary to continue operations. As a result, the Odyssey will officially enter a ‘temporary layup’ this afternoon. All residents must disembark by 2 p.m. today.” 

In a press release, Villa Vie said it would be “working to support those affected as plans develop.”

However, a blog post on Cassingham’s website, Residential Cruising, contradicted that. 

“The company has done absolutely nothing to help,” he wrote. “We couldn’t even walk out of the port, so there were shuttle buses that dropped us in the middle of town, Sihanoukville, Cambodia, the end. They didn’t even give us a list of hotels, let alone help us get there or pay for them.”

That left Cassingham and many other passengers bewildered about what to do next. 

“We had built a house, and it was our dream house, and we decided to sell that and our cars and almost all of our belongings and move onto the ship full-time permanently,” he told Radio Times. “We don't have a home to go to right now. We don't know what we're going to do exactly.” 

Realtor.com® has reached out to Villa Vie Residences for comment.