Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 3,500 marinas in the US operate docking and storage facilities for water craft and offer boating-related goods and services. Most companies offer both temporary (overnight, daily) and long-term (annual, seasonal) rentals. Many marinas provide maintenance and repair services for boats. Companies may sell fuel, marine supplies, meals and beverages, and sports and recreational equipment. Some marinas offer boat rentals or sell boats.

Seasonality And Weather

Boating is a seasonal activity, particularly in markets with long winter periods.

Dependent On Boating Industry And Economy

Because boating is a recreational activity, demand for marina services is vulnerable to changes in the economy and the corresponding effect on the boating industry, particularly new boat sales.

Industry size & Structure

The average private marina operates out of a single location, employs 8-9 workers, and generates $1.8 million annually.

    • The marina industry consists of about 3,500 companies that employ 28,500 workers and generate $6.4 billion annually.
    • Marina may be privately-owned, or associated with municipalities or cooperative entities (home owners associations, condominiums, yacht clubs).
    • The industry is highly fragmented; the top 50 firms account for about 19% of industry sales. The vast majority of marinas are independently owned and operated.
    • Marina Del Rey, CA has one of the world's largest man-made marinas with over 4,600 boat slips.
                            Industry Forecast
                            Marinas Industry Growth
                            Source: Vertical IQ and Inforum

                            Recent Developments

                            Jul 1, 2024 - Employment Falls as Wages Rise
                            • Employment by marinas fell for the eighth consecutive month year over year in April 2024, according to the Bureau of Labor Statistics (BLS). Employment by marinas was down 7.4% in April 2024 compared to a year ago. Labor costs were on the rise as companies increased wages to compete for workers in a tight job market. Wages for nonsupervisory employees at marinas rose 11.1% in April 2024, reaching an average of $25.19 per hour, per the BLS. Wages are almost 30% higher than they were before the pandemic.
                            • Leading marina owner Suntex Marina continued its growth in mid-2023 with several large purchases, according to Marina Dock Age. Suntex acquired four marinas in Oakland, California, in a merger with Almar Marinas in June 2024. Suntex added to its Northeast holdings with its March purchase of the Lighthouse Port Marina and Yacht Club in Tom’s River, New Jersey. In April 2024, Suntex established a joint venture with Centerbridge Partners to buy more than $1.2 billion in new marinas around the US. According to William Rahm, chairman of Suntex and global head of real estate for Centerbridge Partners, “The marina industry has shown consistently strong fundamentals for many years, as enthusiasts have invested in more and bigger boats while the availability of high-quality marinas and boat storage remains scarce.” Suntex Marina Investors is the largest standalone marina owner in the US, based on marina count and boat slips.
                            • The US marinas industry is projected to grow at a CAGR of 4.5% between 2024 and 2028, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. The expected growth rate is faster than the overall economy's projected growth. The report noted that consumer confidence levels in the forecast period are expected to improve, which bodes well for the arts, entertainment, and recreation industries. Additionally, consumer sentiment has seen a degree of improvement following sustained lower levels. As noted in the report, many older workers retired in recent years rather than endure pandemic-era employment challenges. The retirement population is expected to continue to rise rapidly as the Baby Boom generation retires. Per the forecast, "Greater opportunity for leisure for this large and growing segment of the population could drive demand for many arts, entertainment, and various recreational activities, particularly those that serve older people."
                            • Consumer confidence levels fell in June 2024, after an uptick in May, according to data from The Conference Board. The Conference Board’s consumer confidence index was 100.4 in June 2024 from 101.3 in May 2024. Dana Peterson, chief economist at The Conference Board, noted that confidence was the highest among those under age 35 and those in the income category of over $100,000. Plans for large appliance and smart phone purchases rose on a six-month basis, while plans for car purchases stalled.
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