The founder of the ill-fated “endless cruise” that left passengers stranded in Cambodia this week has apologised for the collapse, describing himself as the “villain” in the unfolding crisis.
About 200 passengers were given just seven hours to pack their belongings and leave the scheduled stop in Sihanoukville after operator Villa Vie Residences announced that it had “suspended operations”.
The 200m (656ft) Odyssey departed Northern Ireland in October 2024 for what was billed as a continuous voyage. Residents could rent cabins for an extended holiday or purchase them for life, with prices reaching $440,000 (£330,000). Some passengers sold nearly everything they owned to fund the dream.
Mikael Petterson, who founded the company in 2023, has now spoken publicly about the collapse.
“I feel awful,” he said on Wednesday. “I’m the villain in the story, but I’m doing everything I can to support the residents and find a solution.”
His comments came as passengers described the turmoil they had endured, accusing the company of effectively abandoning them in Cambodia without adequate assistance or communication.
Villa Vie blamed soaring oil prices linked to the conflict in the Middle East, saying the voyage could not continue within its existing budget.
In a statement this week, the company said average monthly fuel costs per cabin had climbed from about $1,800 (£1,354) to an estimated $6,000 (£4,516) to $8,000 (£6,021) in parts of Asia.
A drone view shows the Villa Vie Odyssey cruise ship docked at Sihanoukville Autonomous Port in Cambodia
Villa Vie Residences chief executive Mikael Petterson spoke to passengers before they boarded the Odyssey at Belfast Port’s cruise terminal in September 2024
Passengers disembarked the Odyssey on Wednesday after the ship docked at Sihanoukville port in Cambodia’s Preah Sihanouk province
Mr Petterson said the sharp rise in costs had created a “cascading effect” that undermined the cruise’s financial sustainability.
He blamed US President Donald Trump’s decision to strike Iran in February, saying the conflict had driven oil prices higher by disrupting supply routes, reducing provisions and damaging energy infrastructure.
“Nobody that’s tried residential cruising has succeeded, and we have gone further than anyone else,” he told the Axel Springer Reporters Network. “But I think we would have been absolutely fine and seen this through if there was no Iran war.”
The founder said he had been negotiating with a potential investor and waiting for an injection of cash when the plans collapsed, leaving the company without a viable way to continue operating.
The failure followed repeated requests for additional money from passengers during the voyage, including a demand for a collective loan of $2.2 million (£1.6 million) in April.
Passengers told Our News Outlet that the money has not been repaid.
“We have not received any payments,” Lynn Montoya told the Mail. “On July 31, they told us we would receive a payment within three days. But two days later, we were told there was no money.”
Former permanent residents returned to the Villa Vie Odyssey on Thursday to collect their belongings after being forced to disembark in Cambodia
Paul and Lynn Montoya said they were “investing in a dream” when they committed to spending at least four years travelling the world aboard the Odyssey
Although passengers had already handed over millions of dollars, the company returned to them and their retirement savings for more financial support several months later.
“Residents started donating to keep us on our journey,” Mrs Montoya said. “In September, the company asked for $1.5 million (£1.1 million), followed by another $360,000 (£270,049) this past week while we were stranded in Cambodia.”
The grandmother said the requests appeared to come strategically while the ship was docked in different ports, leaving residents feeling vulnerable and “coerced” into handing over more money.
“We felt manipulated, and when it happened repeatedly, it began to wear us down and frustrate us,” said Mrs Montoya, who sold the couple’s house to finance the trip.
“We would arrive at a port and, six hours before we were due to leave, they would say, ‘Oh, we can’t leave. We haven’t got the money.’”
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“Everyone then felt pressured to find the funds. We joked that we felt as though we were being held captive.”
As conditions on board worsened, passengers began questioning what had happened to the money they had donated specifically to cover fuel costs.
“The company cannot simply pass increases of that scale on to residents, and the resulting shortfall has placed its current operating model under unsustainable financial pressure,” Villa Vie said in a statement.
Villa Vie asked 22 residents for a collective loan of $2.2 million (£1.6 million), according to Mrs Montoya
“It became clear that the company was carrying significant debt, and we began losing many of our services,” Mrs Montoya said.
She added: “Our internet was interrupted several times, so we couldn’t check our bank accounts, pay bills or call home.
“Then the television service stopped working, prompting even more questions. Despite that, the company asked us for more money to pay for fuel.”
Food quality also declined, while crew members began telling residents that their wages had been delayed.
Residents responded by voluntarily raising money to support crew members “whose pay began being affected in August”.
“We were able to give at least $100 (£75) to each of 128 crew members,” Mrs Montoya said.
The crisis reached a breaking point this week, when hundreds of travellers were given only a few hours to pack and leave the ship.
Long Dimanche, deputy governor of Cambodia’s Preah Sihanouk province, said 203 guests and 156 crew members had arrived at the Sihanoukville port, where the cruise left them behind.
The disembarkation followed another request for money that raised $360,000 (£270,049), Mrs Montoya said. Most residents, however, refused to contribute again.
“Most people said, ‘No, we will not give you any more money,’” Mrs Montoya said. “We’re not going to do it.”
“I honestly believe the company thought people would hand over their money again and that this cycle would simply continue.”
Permanent residences aboard the cruise cost between $120,000 (£90,000) and $440,000 (£330,000), while cabin rentals were priced at £3,500 a month.
At 8am on Tuesday, passengers received an official notice instructing them to disembark by 2pm.
“We didn’t know whether we needed to take everything or just an overnight bag. We were told our cabins would be double-locked, so we packed enough supplies for 14 days,” Mrs Montoya said.
“Some people, however, walked off the ship carrying 12 pieces of luggage.”
The roughly 200 stranded residents were then transported in groups and left in the centre of town.
Villa Vie said it was “working with residents to co-ordinate disembarkation and identify temporary living arrangements”.
Mr Petterson acknowledged the desperate position facing customers who had been promised an endless voyage, with stops at more than 400 ports and an “around-the-world” journey every three and a half years.
The founder told Business Insider that residents were “counting on me to make the decision here, and there’s nothing else I’m focused on”.
READ MORE: Inside the “never-ending cruise” that dumped passengers in Cambodia: “It got worse and worse. Crew begged us for money. We gave them $450,000 after they pressured us”
