A new residential cruise ship startup with condos starting at $100,000 will let travelers live at sea — take a look around the ship

Brittany ChangJan 15, 2024, 13:41 IST

Residential cruise ship startup Villa Vie Residences acquired a 30-year-old ship for its never-ending cruise.Villa Vie Residences

Residential cruise ship startup Villa Vie Residences has acquired a ship for its never-ending cruise.
The 30-year-old Villa Vie Odyssey was previously Fred Olsen Cruise Lines' Braemar.

Residential cruise ship startup Villa Vie has hit the one milestone its competitors have been struggling to achieve: acquiring a vessel for its never-ending cruise.

On Tuesday, Villa Vie — helmed by former Storylines and Life at Sea Cruises employees — announced it had purchased Fred Olsen Cruise Lines' Braemar vessel, now renamed the Villa Vie Odyssey. In May 2024, the potential cruise operator says this 924-passenger ship will then embark on a never-ending itinerary, circumnavigating the globe every 3 ½ years.

Villa Vie’s purchase of the eight-deck Odyssey is a boon to the tumultuous residential cruise industry plagued by financial and ship acquisition pain points.

Villa Vie purchased its Odyssey vessel from Fred Olsen Cruise Lines.Villa Vie Residences

Similar startups have recently either announced delays or fallen apart.

Life at Sea Cruises canceled its three-year around-the-world cruise in late November. Its would-be MV Lara is seen in a rendering. Life at Sea Cruises

Would-be luxury operator Storylines is still planning to sail its flashy residential MV Narrative ship.

Storylines has yet to begin construction on its MV Narrative, shown in a rendering.Storylines

When Villa Vie officially pays for and acquires the vessel in February 2024, the startup will spend an additional $13 million on its 10-week refurbishment, Petterson told Business Insider in an email.

Travelers could spend their days at sea in the ship's observation lounge.Villa Vie Residences

When Villa Vie officially pays for and acquires the vessel in February 2024, the startup will spend an additional $13 million on its 10-week refurbishment, Petterson told Business Insider in an email.

To fund this purchase and update, Petterson said Villa Vie will rely on first lien debt and “resident equity investors” from its Founders Club.

The Odyssey has three dining rooms.Villa Vie Residences

When complete, the Oydssey would then embark on its never-ending around-the-world sailing in May 2024 complete with condos starting at $100,000.

The ship was lengthened in 2009, according to Villa Vie.Villa Vie Residences

The vessel has 509 cabins, although 35 will be reserved for “friends and family,” according to Petterson.

The balcony cabins will have a bed semi-separated from the living room, according to Villa Vie's renderings.Villa Vie Residences

As of December 8, 31 people have put down a deposit for a cabin, Petterson told Business Insider. Another 32 have expressed “firm interest.”

Travelers would have the opportunity to circumnavigate the world every three-and-a-half years aboard a ship with a modern pool deck, according to Villa Vie's rendering.Villa Vie Residences

Onboard, these guests would spend their days at sea lounging around the Odyssey’s library, “culinary arts center,” pool, and four jacuzzis.

The ship has 15 food and beverage concepts.Villa Vie Residences

Work-from-anywhere guests could work from the "business center" complete with offices and conference rooms.

Villa Vie says its ship will have a business center as shown in its rendering of the space.Villa Vie Residences

If Villa Vie can keep its promise of life at sea, the startup will soon join The World as one of the only successful residential cruise ship operators.

The World's residential cruise ship has been circumnavigating the globe for the past 20 years.The World

To compare, travelers who want to purchase a Villa Vie cabin would pay between $100,000 for an interior stateroom to $250,000 for a balcony cabin.

The rendering shows Villa Vie Odyssey's balcony cabin.Villa Vie Residences

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A new residential cruise ship startup with condos starting at $100,000 will let travelers live at sea &mdash; take a look around the ship

Villa Vie’s purchase of the eight-deck Odyssey is a boon to the tumultuous residential cruise industry plagued by financial and ship acquisition pain points.

Similar startups have recently either announced delays or fallen apart.

Would-be luxury operator Storylines is still planning to sail its flashy residential MV Narrative ship.

When Villa Vie officially pays for and acquires the vessel in February 2024, the startup will spend an additional $13 million on its 10-week refurbishment, Petterson told Business Insider in an email.

To fund this purchase and update, Petterson said Villa Vie will rely on first lien debt and “resident equity investors” from its Founders Club.

When complete, the Oydssey would then embark on its never-ending around-the-world sailing in May 2024 complete with condos starting at $100,000.

The vessel has 509 cabins, although 35 will be reserved for “friends and family,” according to Petterson.

As of December 8, 31 people have put down a deposit for a cabin, Petterson told Business Insider. Another 32 have expressed “firm interest.”

Onboard, these guests would spend their days at sea lounging around the Odyssey’s library, “culinary arts center,” pool, and four jacuzzis.

Work-from-anywhere guests could work from the "business center" complete with offices and conference rooms.

If Villa Vie can keep its promise of life at sea, the startup will soon join The World as one of the only successful residential cruise ship operators.

To compare, travelers who want to purchase a Villa Vie cabin would pay between $100,000 for an interior stateroom to $250,000 for a balcony cabin.

A new residential cruise ship startup with condos starting at $100,000 will let travelers live at sea — take a look around the ship