Villa Vie Residences postpones Odyssey's launch amid technical issues

   June 19, 2024 ,   Cruise Industry

Villa Vie Residences, a startup specializing in round-the-world residential cruises, has postponed its launch date once again. The Villa Vie Odyssey is now slated to depart on June 21, 2024.

The ship is currently undergoing drydock refurbishment in Belfast (Northern Ireland). Due to technical and compliance issues, its start date has been revised 3 times from the original May 15th schedule.

The 1993-built Villa Vie Odyssey previously sailed as MS Braemar for Fred Olsen Cruise Lines. The latest delay resulted from issues with the rudder posts. New custom-made 4000-pound rudder stocks are expected to arrive and be installed in the upcoming week, potentially pushing the start date again, to June 25th.

Villa Vie’s COO Kathy Villalba explained in an online group chat with customers that delays are a common challenge in the cruise industry and every company experiences them. She added they remain committed to their residents and prioritize transparency. 

According to the company, it has US$52M in liquidity on hand, including external financing and US$39M in cabin purchase and cruise segment rental revenues.