Villa Vie Residences, a startup offering round-the-world residential cruises, has postponed its launch date once again. The Villa Vie Odyssey is now scheduled to depart on June 21, 2024. The ship is currently undergoing a drydock refurbishment in Belfast, Northern Ireland.
Due to technical and compliance issues, its start date has been revised three times, from May 15. Villa Vie Odyssey was constructed in 1993 and most recently sailed as the MS Braemar for Fred Olsen Cruise Lines.
| “Delays are inevitable with the cruise industry. Every cruise line suffers them,” Villa Vie’s COO Kathy Villalba said in an online group chat with customers. “We will continue to be committed to our residents and keep the transparency with them. We are nearly finished.” |
Rudder Complications May Still Delay Departure Again
The most recent delay was due to a problem with the ship’s rudder posts. According to a customer who spoke to Cruise Radio, this issue seems unresolved, requesting anonymity.
The customer says new custom-made 4,000-pound rudder stocks “should arrive and be installed this upcoming week.” This would likely put a possible start date back to June 25.
Despite the delays, Villa Vie Odyssey has fared much better than most of its competitor startups in the residential cruise space.
One rival, Life at Sea Cruises, left many customers in limbo after canceling its much-delayed world voyage late last year. It left customers threatening legal action over missed refunds.
Villa Vie says it has strong liquidity with funds available to deal with the delays and dry dock issues. According to the company, it has $52 million in liquidity on hand. This includes external financing and $39 million in cabin purchase and cruise segment rental revenues.
