'Too good to be true': Passengers say 'never-ending' cruise was set up to fail as their last-ditch bid to save stricken ship collapses into disarray

Villa Vie Odyssey's extraordinary round-the-world voyage has come to a dramatic end after around 750 days at sea, with passengers told to abandon ship in Cambodia last week as the company blamed soaring fuel prices.It was supposed to be the adventure of a lifetime. Passengers had been promised more than 400 port stops across the globe over three-and-a-half years, taking in South Asia, India, Africa, the Mediterranean and Europe. And for those who wanted to make the ship their permanent home, there was even the tantalising prospect of living at sea for the rest of their lives.But what was sold as a floating paradise has turned into a nightmare, with mounting financial problems, frustrated passengers and now a failed attempt by residents to buy the stricken vessel and keep their dream alive.In hindsight, the warning signs were there from the very beginning.The 195-metre ship was held up in Belfast for four months in 2024 while undergoing repairs, delaying its maiden departure until October 3. And despite its capacity to accommodate 650 passengers, Odyssey reportedly never came close to reaching full occupancy.By the time residents were told to disembark for good, only around 200 passengers remained on board.Yet the idea behind Villa Vie was hardly without appeal. Long-term residential cruises are an increasingly eye-catching proposition for those with the money and freedom to swap life on land for a permanent home at sea.But such a lifestyle usually comes with an eye-watering price tag.The World, operated by Residences at Sea, is among the best-known examples, offering 165 luxury residences aboard a ship launched in 2002. Buying a home on board costs between $3.5million and $15million, on top of annual ownership expenses.Meanwhile, Storylines' MV Narrative, which is expected to set sail in 2028, is offering residences ranging from $675,000 to $10million.Villa Vie, by comparison, promised a far more affordable way to live out the same extraordinary fantasy. Villa Vie Odyssey's world voyage came to an abrupt end last week when it ran out of cashPermanent residency for the 'life of the ship' started from $119,999 for an inside cabin, as well as monthly fees of $5,000 for a double and $3,500 for solo.The charges were said to cover three meals a day, bi-weekly housekeeping, Wi-Fi, complimentary drinks and other amenities.The five-year residency was priced from just $59,999 with monthly fees starting at $3,299. Cruisers also had the chance to purchase a 'home suite home' multi-cabin set up from $229,999, alongside charges ranging from $6,999 to $8,999 a month.Villa Vie's Endless Horizons one-payment package, which promised a lifetime villa from $349,999, sold out.Passengers not wanting a permanent fixture on the ship could also rent a cabin for a more flexible stay. There were plenty of perks to take advantage of too for owners and long-term residents, such as 28 friends and family days every calendar year. Passengers could have their loved ones visit and stay up to 14 days for free in a dedicated friends and family villa, while a further 14 days would be charged at $33 a day.However, some cruisers have described Villa Vie's model as 'too good to be true', including Canadian passenger Mary Ann Demsar. The vessel asked passengers to pack up and disembark in Cambodia, citing soaring fuel costs as the reasons for its failingsShe joined the ship in Belfast when it first departed and has enjoyed sailing on and off as a 'segmenter' after deciding not to purchase a permanent cabin and leasing for parts of the world voyage instead. 'This whole concept is a fabulous idea, there's no two ways about it,' Ms Demsar, 67, tells the Daily Mail. 'Unfortunately, it was not expensive enough. It did seem too good to be true that it could cover its costs, and we kind of felt that way.'However, she explains how passengers didn't really get any indication that there were problems with the company until a few months ago.'Then there were some cash calls, especially when the war started and we needed extra money for fuel,' Ms Demsar says. 'I understand if I was at home, I know I'd have to spend more for gas in my car and other stuff as well.'But the requests for donations from passengers started becoming more frequent, and it was at that point that residents started to think 'this business may not be able to afford itself'.Eventually, the cash dried up and passengers were told to be out by 2pm on October 27 and Ms Demsar recalls being in 'disbelief' that the 'incredible' voyage was coming to such an end. Fortunately due to being a segmenter Ms Demsar doesn't feel like she has lost any money, but those who have paid for cabins full-time are in a different predicament. But some passengers, such as Mary Ann Demsar, feel its pricing was 'too good to be true' and 'not expensive enough''I really don't consider any money that I've invested in it as a real loss because what I've gotten for it has been fabulous,' she says. 'But people that are owners, they have paid for their cabins and they're supposed to get money back on it. Others have prepaid their segments or prepaid their maintenance fees, which owners have to pay, and so they're out that.'To make matters worse, when passengers donated money during the cash calls Ms Demsar claims they were promised 'it would be returned with interest, and it looks like all of these things are gone'. She adds: 'So many people are out a lot of money, but I am really one of the lucky ones.'Despite the recent issues, Ms Demsar managed to enjoy visiting many 'beautiful places' on the ship including Mexico, Alaska and Japan, and says she hasn't been put off. 'You're not always going to have success the first time you try it, but it is a fabulous idea, and we just need to have more money behind it, more business sense, and a better pricing, a better business plan to make it go forward,' the cruiser says.'If it was under different people that understood how things actually worked and it was much more transparent, I would definitely sign up again, and I know many people would.' Now, the ship has been handed back to its lender according to CBS NewsHowever, a resident-led initiative called Sagar Capital that was attempting to buy the Odyssey has failed, according to a letter posted online. The statement, addressed to 'our fellow Odyssey residents' explained how 'Sagar Capital has ended its effort to lead residents in purchasing and operating the Odyssey.'It outlined the group had tried to negotiate 'with the ship's lender for two months and could not reach terms'.'We understand the lender, with Columbia Ship Management, has now taken control of the ship and intends to sell it at auction,' the letter continues. It also reveals how there was 'more debt than we expected' and a 'review found substantially more debt than we had anticipated'. The letter goes on to highlight other issues such as 'legal exposure', 'the cost of bankruptcy' and 'the risk to your savings'.According to the statement 169 passengers had pledged to help the cause, but it still wasn't enough to cover the costs. Control of Villa Vie Odyssey has now been passed to its lender, a message informed residents recently according to CBS News. 'This is a 30- to 90-day process, and, during that process, we have time to get a restructure done,' Mike Petterson, the company's founder and executive chairman, told the publication. 'They have now the responsibility to pay the crew, fuel and the operations of the vessel and safekeeping of the vessel. 'They would be willing to work with a funded plan – they're not out of negotiations – it's not like you get your car repossessed and you can't get it back.' The Daily Mail approached Villa Vie for comment.