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Companies in this industry are engaged primarily in offering docking or storage facilities for pleasure boats. Major US companies include IGY Marinas, Safe Harbor Marinas, Suntex Marinas, and Westrec Marinas. Outside the US, major marinas include Hong Kong-based Gold Coast Yacht and Country Club and Mulpha Australia's Sanctuary Cove.
The US and Europe are the world's two largest recreational boating regions, accounting for about 80% of the global market, according to the National Marine Manufacturers Association. The Middle East is a growing market for the marina industry, led by new major waterfront projects in Dubai.
The US marina industry includes about 3,800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $4 billion.
Demand is driven by ownership rates for power boats and sailboats. The profitability of an individual marina depends on location and good marketing. Large companies have the resources to advertise and negotiate better prices with suppliers, builders, and maintenance firms. Small companies can compete by offering customized services or preferred locations. The US industry is highly fragmented: the top 50 companies account for 20% of industry revenue. More than 90% of US marina operators have only one location.
Other companies in the amusement and recreation sector that compete with marinas for consumer dollars and leisure time may include golf courses, country clubs, and ski facilities.
PRODUCTS, OPERATIONS & TECHNOLOGY
The main business of marinas is renting slips (dockside ...
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