Today’s super-yachts and mega-yachts are driving the boating world, and they’re coming to marinas in droves. They’re also precipitating a growing crisis in the marina and boating industries. The growth in the size of boats is running headlong into the scarcity of places to park them, and neither shows any sign of abating.

The recreational boating industry is a reflection of the general economy, and worldwide economic progress is reflected in longer and wider boats. The move to bigger and better boats parallels the modern home, so that the 1950s dream house is a cramped museum piece today. The same holds true for today’s boats.

Many marinas have seen the trend to longer and wider as an opportunity to either remodel and/or reposition their slip mix to accommodate increased numbers of larger vessels. (For the story of one marina’s successful remodel, see “Proper planning pays big dividends—how to rebuild and redesign a marina,” pg. 26, May/June 2007, Marina Dock Age, )

Boats are being built at a faster rate than there are slips to moor them, and this is especially true with very large boats. In “A dash for the deep blue sea,” which appeared in the November 16, 2006 issue of “The Economist” magazine, this trend was put in these words:

Boat builders are floating on a tide of orders, with luxury super-yachts showing the biggest rises. Sales of these giants—some now stretched to 400 feet—are up 80% in the past six years…

Jill Bobrow, Editor-in-Chief of “ShowBoats International” magazine, said, “The lack of moorage is a concern, but it has not slowed the sales of super-yachts. We’re seeing an increase in new or remodeled marinas that can accommodate larger yachts. It’s happening all over the world, but particularly in the Caribbean.” Bobrow pointed to Yacht Haven Grand Marina in St. Thomas where super-yachts over 400 feet, such as Larry Ellison’s ‘Rising Sun’ or Paul Allen’s ‘Octopus,’ can now dock as good examples of the “new marinas.”

Moorage is especially difficult in the Mediterranean, where visitors must often find moorage before 2:00 pm or be forced to spend the night on their anchors. Bobrow told of a recent yacht purchase that characterized the slip shortage. “The super-yacht Hanse in Antibes on the Cote D’Azur in France, was purchased just for the moorage,” she said. “The buyer sold the boat right after he bought it.”

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MAGAZINE: Marina Dock Age
ISSUE: July/August 2007

Building a new marina in an empty basin takes great care and planning. However, rebuilding and redesigning an existing marina takes even more planning. Tenants need to be taken into account, and the ongoing business must be maintained with minimal interruption during the project. Done right, however, a marina can complete a renovation project, can protect its revenue stream during the rebuilding process, and can continue to provide quality services to its customers. The rebuild case For those owners operating an existing marina and looking to renovate it, at what point does it make sense to rebuild? Having worked with many marina operators going through the decision-making process, here are some common reasons to rebuild:

A disproportionate demand for slips: Marinas should take a look at their waiting lists to see if there is a high demand for large slips, and little or no demand for narrow or smaller slips. Today’s boats have gotten bigger, both in length and beam, and operators of marinas built 20 plus years ago are finding that their facilities just don’t meet the needs of today’s market.

• Positive economic conditions: Marina owners and operators can substantially reduce their overall project costs, including financing, by taking advantage of lower interest rates and favorable timing in the financial markets.

• End of useful life: An older marina using outdated structures may present a number of safety hazards, as well as look and feel more antiquated with each passing year. Utilities, especially electrical services, may be underpowered or out of compliance with codes. If this is true, it’s probably time to compare the costs of continuing to operate an outdated marina with the opportunity to increase revenues and asset values by investing in a new one.

• Lease agreements or permit influences: The decision to rebuild may be influenced by external influences, such as lease terms or permitting opportunities. For example, there are many situations where operators are preparing to renegotiate a long-term lease with a city. Presenting the municipality with a rebuilding plan can put the marina in a much better negotiating position and may better align the marina’s business with the city’s vision for the property. Additionally, opportunities for expansion that were once inhibited by permitting restrictions may now be possible. Or, with new restrictions on the horizon, it’s now or never.

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MAGAZINE: Marina World
ISSUE: May/June 2007

In the 1960’s, the early days of marinas in the Mediterraneane, when Monaco was still a ‘sunny place for shady people’, leisure boating was generally an aristocratic pastime for the rich. Boating usually centred around Yacht Clubs where the trophy cabinet invariably held pride of place and the yachts moored out in the bay added the backdrop to the glamorous lifestyle.

Euromarina Review, Vol. 6 Issue 1 2007

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