Founder of the doomed 'never-ending' cruise speaks out: 'I'm the villain in the story, but I'm doing everything I can'
The founder of Villa Vie Residences, Mikael Petterson, discusses the collapse of his 'never-ending' cruise venture due to mechanical issues and rising fuel costs. He expresses regret over the situation as the company faces potential bankruptcy.
Why it matters
Illustrates the high-risk nature of niche luxury travel startups and the impact of global economic instability on business operations.
Villa Vie Residences Executive Chairman Mikael Petterson (right) posed for a photo with a passenger before the Odyssey cruise ship set sail in 2024. Liam McBurney/PA Images via Getty Images A "never-ending" cruise was halted because of soaring fuel prices. Its founder blames the Iran war. Mikael Petterson says he's considering bankruptcy for his company, Villa Vie. "I feel awful." He says residents began to jump ship when the company asked them for emergency loans. After a stormy two years at sea, the founder behind the doomed "never-ending" cruise had a plan last week to keep the ship's finances afloat. With his company, Villa Vie Residences, Mikael Petterson had promised a new way of life: People could spend six figures to purchase one of 509 cabins on a luxury cruise ship called the Odyssey, and sail around the world for the rest of their lives. Reality was different.
Headlinne story · 7 newsrooms
Cruise Ship Residents Stranded in Cambodia After Fuel Costs Surge
What every outlet reported, where they differ, and how each framed it →
Also covering this story
3 other newsrooms covered this event. We read each version separately.
Fuel costs jump from $1,800 to $8,000: Cruise ship residents forced ashore in Cambodia
CEO says plan is to file for bankruptcy after ending luxury never-ending cruise that left hundreds stranded
Cruise ship residents stranded in Cambodia as fuel costs soar - Honolulu Star-Advertiser
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in