Residential World Cruise Ship Delayed Two Weeks, Company Secures Financing

Residential cruising brand Villa Vie Residences has secured additional financing as it gears up to the launch of its 3.5-year world cruise. It has gained a Term Loan Facility from funds advised by NRP Maritime Asset Management AS, a Norwegian maritime fund manager.

Villa Vie Residences’s ship Odyssey is on dry dock in Belfast, Northern Ireland, prepping for its launch. An extensive refurbishment is underway and expected to be completed by May 21.

World Cruise Launch Pushed Back Two Weeks

Due to the work required, the departure date from Southampton, May 15, has been pushed back to May 30, now sailing out of Belfast. The ship was purchased from Fred. Olsen Cruise Lines when it was called the MS Braemar.

“We are excited about our latest accomplishments and our upcoming launch of Villa Vie Odyssey,” said Villa Vie Residences CEO Mikael Petterson. “The delay is a necessary operational adjustment aimed at upholding the highest standards of service and safety.”

Due to the rescheduled departure date, Villa Vie Residences has set up a dedicated hotline to assist booked residents. The company says it will cover all change fees they incur.

The delay has made some guests nervous about the launch after the Life at Sea Cruises mishap last fall, where cruisers lost their money, and some were left homeless. To give customers peace of mind, the cruise company invites them to tour the ship before the launch date to view the enhancements.

World Cruise Over 80% Sold

According to Kathy Villalba, Chief Operating Officer of Villa Vie Residences, more than 80% of the available cabins are sold. “This continues to increase everyday as we near our departure,” Villalba said.

The Villa Vie Residences continuous 3.5-year world cruise is scheduled to visit more than 425 ports in 147 countries. Customers have two booking options on the Villa Vie Residences world cruise: owning a villa at sea or booking shorter cruise segments ranging from 35 to 120 days.