A dream of hundreds of thousands of dollars turned into a nightmare: the cruise that left its passengers without a home
Joel Greif from Florida sold his apartment and paid $350,000 for permanent residence on a cruise ship, but 26 days after departure the company ran out of money and he and 202 passengers were stranded in Cambodia. The company blamed high fuel prices due to the war in Iran. The passengers tried to save the ship through fundraising but failed.
Joel Greif, 57, from Florida sold his apartment and withdrew funds from his pension to pay $350,000 for permanent residence on the cruise ship the Odyssey, hoping to escape stress. But 26 days into the voyage, the ship ceased operations due to lack of funds, and Greif and 202 other passengers were stranded in Cambodia. The operating company, Villa Vie Residences, blamed high fuel prices following the war in Iran. The company marketed the package as a "home at sea" for retirees and digital nomads, at fixed prices of $120,000–$140,000 plus monthly payments. The voyage began in October 2024 after a four-month delay, and during it the ship visited only 54 countries, 28% fewer than planned. The passengers tried to save the ship through fundraising and an investment fund but failed after discovering a higher-than-expected debt. Monthly operating costs were $3.1 million against revenues of only $2.5 million. The creditor, Ness, Risan & Partners fund, will put the ship up for auction in Singapore. Despite the disaster, one passenger, Sherry Olson, 77, described the experience as "magical."