CEO says plan is to file for bankruptcy after ending luxury never-ending cruise that left hundreds stranded
The CEO of Villa Vie Residences plans to file for bankruptcy after abruptly ending a luxury never-ending cruise that left over 200 passengers stranded in Cambodia. The cruise ship, Odyssey, was on a continuous around-the-world voyage but ran out of money due to skyrocketing fuel costs. Passengers were told to disembark in Cambodia. The company's financial struggles led to the sudden termination of the cruise.
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- ✓ The luxury cruise ship Odyssey was on a continuous around-the-world voyage.
- ✓ Over 200 passengers, mostly Americans, are stranded in Cambodia.
- ✓ The cruise operator ran out of money due to skyrocketing fuel costs.
- ✓ The CEO plans to file for bankruptcy.
What changed
The CEO of Villa Vie Residences announced plans to file for bankruptcy.
Live updates
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CEO plans bankruptcy after ending luxury cruise
The CEO of Villa Vie Residences plans to file for bankruptcy after abruptly ending a luxury never-ending cruise that left over 200 passengers stranded in Cambodia. The cruise ship, Odyssey, was on a continuous around-the-world voyage but ran out of money due to skyrocketing fuel costs. Passengers were told to disembark in Cambodia. The company's financial struggles led to the sudden termination of the cruise.
Why it matters
The luxury cruise, marketed as an 'endless' voyage, was a high-end experiment in perpetual cruising. It catered mostly to American passengers. The sudden end of the cruise has left many in a difficult situation. Fuel costs, exacerbated by the Iran war, were cited as the reason for the financial struggles.
What is confirmed
- The luxury cruise ship Odyssey was on a continuous around-the-world voyage.
- Over 200 passengers, mostly Americans, are stranded in Cambodia.
- The cruise operator ran out of money due to skyrocketing fuel costs.
- The CEO plans to file for bankruptcy.
- The company is based in Florida.
What to watch next
- Bankruptcy filing details
- Passenger repatriation plans
- Investigation into the company's financial management
confidence 90%Sources used for this update (15)
- CNN — Continuous round-the-world cruise comes to an end as Iran war spikes fuel costs
- CNBC — Luxury round-the-world cruise ends abruptly as fuel costs skyrocket
- Reuters — Cruise ship residents left stranded in Cambodia after fuel prices soar
- The New York Times — An ‘Endless’ Cruise Around the World Is Suspended, Leaving Passengers Stranded
- CBS News — CEO says plan is to file for bankruptcy after ending luxury never-ending cruise that left hundreds stranded
- People.com — Passengers Stranded by ‘Never-Ending’ Cruise Speak Out After Being Forced to Leave the Ship
- NPR — A U.S. cruise ship suspends a global voyage due to fuel costs, stranding 200 passengers
- Business Insider — Founder of the doomed 'never-ending' cruise speaks out: 'I'm the villain in the story, but I'm doing everything I can'
- Reuters — US couple's retirement dream in ruins after residential cruise scrapped in Cambodia
- Yahoo — Watch: Fuel crisis strands 200 passengers aboard luxury cruise ship Odyssey
- www.cbsnews.com — CEO says plan is to file for bankruptcy after ending luxury ...
- thelocalus.com — CEO says plan is to file for bankruptcy after ending luxury ...
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