The Villa Vie Odyssey's cursed non-stop round the world voyage.
This got a couple of mentions in the cruising (on ships) thread but I thought it deserves its own.
Villa Vie residences have bought a cruise ship they named the Odyssey and are selling rich people the chance to sail round the world for life (so they claim).
Passengers can buy a cabin on board or rent one for individual time segments (the ship's destinations on its three-year global circuit are posted in advance).
'Ownership' starts at US $119,999 for the inside villa or rent for $1750/month. The Balcony suite will set you back $349,999.
Sound good? Well, ownership is only guaranteed for 15 years or the entire operational life of the ship. The Odyssey used to be the Braemar from Fred Olson and is now 31 years old. Apparently the average life of a cruise ship is 30 years. Hmmm. Thankfully there is an option to sell your cabin back to the company or upgrade to another ship (there are apparently plans to buy in the future).
The adventure of a lifetime has so far not being going smoothly. The Odyssey was meant to set sail from the UK in May, but many technical and maintenance issues required it to spend four months being refitted in Belfast before passing sea trials. Many of the passengers had sold their house and were forced to kick their heels in Northern Ireland or travel somewhere else on their own for a few months. The company apparently spent $500,000 on putting guests up in hotels over the summer, until they were forced to send a letter in September asking passengers to pay for themselves. Even when they left port in October, it was only to anchor offshore until more 'paperwork' was done (to avoid a legal deadline for refunds?).
On reddit, a former officer on the ship when it was the Braemar stated 'When Fred Olsen has finished with a ship there's nothing more to get out of it. Unfortunately this is a flop where people are fooled to believe that this will be paradise. I know that vessel like my own pocket after having worked there. I took it through the fifteen years class and there were already challenges with this vessel'. It's been claimed that the company bought the ship without paperwork detailing maintenance history.
| by Anonymous | reply 16 | October 18, 2024 2:30 AM
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Once they finally left Belfast, the passengers missed their planned first stop of Brest due to 'technical issues'/ a lack of passport control at the port. So they went on to Catalonia (Bilbao), Spain and Portugal. On the way passengers reported problems including lack of hot water, issues with sanitation system, cracks in balconies/tanks, oh and the safety and operational certificates will expire this Christmas.
Cruise industry watchers are agog.
| by Anonymous | reply 1 | October 18, 2024 1:41 AM
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Perhaps somewhat ominously, the CEO and COO departed the ship in Brest, even if the passengers couldn't. Oh yeah, and some of the passengers were kicked off the boat for 'negativity' about the company in group Whatsapp chats. One woman is suing. Not a smart move if you're already haemorrhaging money?
| by Anonymous | reply 2 | October 18, 2024 1:44 AM
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But at least these bloggers, a Florida couple, are determined to look on the bright side. They've mostly defended the company and waved away the problems up until now.
| by Anonymous | reply 3 | October 18, 2024 1:46 AM
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Whaddya think, how long do you give them before this inevitably implodes? To the Caribbean? South America? Or will they make it all the way to Australia?
| by Anonymous | reply 4 | October 18, 2024 1:46 AM
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“Apparently the average life of a cruise ship is 30 years. Hmmm”
30 years is standard for this type depreciating asset.9
| by Anonymous | reply 5 | October 18, 2024 1:48 AM
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The financial structuring sounds too close to that of a timeshare for me to ever consider, even if I were in the target market of wealthy retirees.
Probably just cheaper to rent the damn cabin continuously based on how much time one wants to spend on an expedition like this. There are global cruise options for just this kind of plan, and still probably cost a hell of a lot less than “buying” a cabin on this aged ship.
Even dumb people aren’t going to confuse these things with appreciating assets.
| by Anonymous | reply 6 | October 18, 2024 1:53 AM
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Another ship called The World has been doing this for about 20 years so clearly it can work with the right ship. I would absolutely love to have that lifestyle. No prices on their website.
| by Anonymous | reply 8 | October 18, 2024 2:02 AM
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It's also got pickleball, arts and crafts, cards and games, shows, and guest lectures. Not much detail on any of these.
| by Anonymous | reply 9 | October 18, 2024 2:04 AM
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I remember reading about The World several years ago. It all looked very luxurious and there was a famous entertainer who’d bought one of the suites. Can’t remember who. The thing is, most people didn’t live aboard full time. They were wealthy people who already had a couple homes. They’d fly in the join the ship every so often but a lot of the time, the ship was really like a ghost town. There was also a controversy over renting out your cabin to strangers like an Air BnB and who were *those* people.
| by Anonymous | reply 12 | October 18, 2024 2:16 AM
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R12 - Yep - I remember watching videos of The World. Apparently other people can rent out cabins on the ship, but through the ship services obviously.
The main thing was how DEAD the ship was. I remember seeing one couple in a lounge dancing - nobody else there. Empty eating areas. Then there were a lot of 'cliques' among the passengers.
You don't want too many people - but living in a ghost ship would get old fast. I guess the point is all of the ports - and they do have fabulous destinations - and the convenience of a cruise ship. Many people worked full time from the ship remotely.
| by Anonymous | reply 13 | October 18, 2024 2:23 AM
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I know someone on the ship. I worry for her.
| by Anonymous | reply 14 | October 18, 2024 2:27 AM
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R14 Does she have an out if it goes belly up?
| by Anonymous | reply 15 | October 18, 2024 2:28 AM
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