Marinas transform to yachting resorts

Both US market research agency ‘Growth Market Reports’ and the UK ‘Market Research Future’ investigated the worldwide marina industry this year and calculated that this sector can grow over the next decade. Their exact findings vary a bit, but both research organisations concluded that the global marina market today represents an annual turnover of about 20 billion dollars. They agree that this number can increase up to around 30 billion dollars in the decade to come.

Escapes from the urban

The researchers identify trends and challenges for the sector: with worldwide further increasing urbanisation in combination with (in the first world and the wealthy population of upcoming and developing countries) larger spending capacity, there is demand for waterborne and waterside leisure activities. Escaping the busy metropoles, the boaters and yachties will need the maintenance and repair services in the marina, as taking the boat home in the cities is often not a possibility. Coming to their boats, the urban boating community wants to relax and enjoy the company of fellow boaters. Marinas are already transforming from boat docking facilities towards boating hubs with care-free services for boat maintenance together with hospitality services like restaurants, playgrounds, supermarkets for onboard provisions and chandlers.

Harbours to resorts

Small scale marinas in urban areas do not have much space for expansion and mid-sized marinas may not have the growth potential. Growth opportunities, the UK researchers point out, are with the larger marinas. There, spas can be added to the luxury experience. Multiple restaurants can offer a wider choice. Nautical festivals can attract non-boating audiences and entertain the marina guests. These big marinas can also find space to accommodate larger yachts. The US researchers identify a growing demand for eco-friendly recreation. Owners looking for a spot to berth their boat, might feel better at home in a marina that has invested in renewable energy resources, has an environmental friendly offering of products and services and cherishes the natural environment – after all, enjoying clean waters is what leisure mariners want to do.

Concentration

A third trend that is not specifically identified by the research companies is the rapidly ongoing clustering of marinas into conglomerates. Twenty of even fifteen years ago, most marinas were local enterprises owned by the harbour masters who were present at the marina everyday, themselves. Today, marinas with their often extensive real estate and incorporated companies, are increasingly being taken over by marina groups like IGY Marinas, Yacht Haven Group, Premier Marinas or Safe Harbor Marinas. The benefit of belonging to a larger group is the availability of funds to invest in new provisions and services. The down side is that decisions are made in the conglomerate head office based on figures and profit, while the people managing the business do not know the individual berth holder anymore.

Standards

Mid October, delegates from marinas and marina conglomerates all over the world gathered in Venice, Italy, for the Icomia World Marinas Conference. Icomia president Frank Hugelmeyer called for co-operation. “The competition is not ourselves,” he proclaimed in the opening speech, setting waterborne and waterside recreation apart from other – land based – form of leisure time spending. Hugelmeyer called upon the marina professionals to seek standards for online services. For people on boats, booking a berth online can be simplified if all the marinas use the same or at least compatible reservation systems. The need to download a new app on their smartphone at every marina, surely does not help them to adapt to digital services.

Demanding owners

Transformation from parking spaces for boats towards waterside nautical experience hubs, answers to client demand, Oliver Dörschuk, CEO at marina automation software company D-Marin argues. His company’s study into the client experience at Mediterranean marinas revealed ever more demanding customers. Since the peak demand for new and used boats during the covid pandemic, new boat sales have declined. The only segment in the boat building market that has grown is superyachts. Customers that own yachts over 24 meters of length, tend to be more demanding then skippers of small and mid-sized yachts. Marinas today have empty berths at the piers for small boats and waiting lists for large yacht slips. Professional marina operators’ media report on dozens of special superyacht marina plans or ongoing constructions currently.

Include youth

Having the money to buy a yacht over 24 meters, usually happens to boaters later on in life. Even buying a new or used yacht of moderate size, is something that a lot of twentysomethings can not afford. CEO Bryan Redmond of Suntex marinas thinks of the future of the sector over more than one decade and reflects on way to get young people into the marinas and into boating. He argues clubs for sailboat racing and shared ownership programmes should be actively involved by marina operators. Active sailing and water recreation, made possible at affordable cost, he describes as ‘gateways to boating’: “Creating emotional, experience-driven connections is crucial to keeping newcomers engaged.”

The market research reports:

https://www.marketresearchfuture.com/reports/marinas-market-31282

https://growthmarketreports.com/report/marina-development-market