|Last Quarterly Update:||11/21/2016|
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Companies in this industry are engaged primarily in offering docking or storage facilities for pleasure boats. Major US companies include California Yacht Marina, IGY Marinas, Safe Harbor Marinas, and Westrec Marinas.
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. Latin America is an emerging market for the marina industry.
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 about 15% of industry revenue. More than 90% of US marina operators have only one location.
PRODUCTS, OPERATIONS & TECHNOLOGY
The main business of marinas is renting slips (dockside spaces) and moorings (anchored buoys). Marinas also sell fuel and other items and provide maintenance services. About 40% of industry revenue comes from slip and storage fees, 15% from maintenance, and 10% from fuel sales. Other sources of revenue include sales of food (5%) and marine equipment (5%).
A typical marina has 50 ...
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