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The

Superyacht
TR U TH OPINION

s umm e r
2011

K NO W LE D G E I D EAS

AN D E X PERT i n du s t r y ANALYSIS

intelligence

quarterly
Marina Capacity & Berth Analysis Report

a product of

Contents & Introduction

1 Introduction
2 Analysis of the Marinas
Sector

19 New Marinas planning


and execution

24 Marina Operators
27 Environmental Marina

Management

30 Engel & Vlkers

15 most expensive marinas

31 Interview with Robert


Perrochio, ICOMIA

32 Conclusion
Contributors: Ellie Brade, Tess De La Mare,
Martin H Redmayne
Thanks to: Camper & Nicholsons Marinas International,
Sean Purdy, Kurt Fraser, Roberto Perrochio
For more information on Superyacht Intelligence,
please contact Ellie Brade
ellie@superyachtintelligence.com
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Visit: www.superyachtintelligence.com/subscribe
Email: subs@theyachtreportgroup.com
Tel: +44 (0) 207 924 4004
Subscribe to Superyacht Intelligence for 375
The complete business tool giving you access to the most
up-to-date and detailed market intelligence.
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Fleet and Global Order Book
Full access to all market analyses and technical reports
Published by The Yacht Report Group, Lansdowne House,
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ISSN: 2046-4975
Superyacht Intelligence Quarterly is published by TRP Magazines Ltd
Copyright TRP Magazines Ltd 2011. All Rights Reserved. TRP
Magazines is a division of The Redmayne Publishing Company.
The entire contents are protected by copyright Great Britain and by
the Universal Copyright convention. Material may be reproduced
with prior arrangement and with due acknowledgement to TRP
Magazines Ltd. Great care has been taken throughout the magazine
to be accurate, but the publisher cannot accept any responsibility for
any errors or omissions which may occur.

Camper & Nicholsons Marinas own and operate marinas in Malta,


Turkey and Grenada, and manage marinas under contract in Abu
Dhabi, Italy, Cyprus and St Kitts. Their professional services cover
the full marina life-cycle from initial feasibility through to maturity,
and they are currently consulting on design and technical projects in
most areas of the yachting world, from the Caribbean to China.
Camper & Nicholsons
Marinas International Ltd
The Treasury Building,
Vittoriosa BRG1721, Malta
Tel: +356 2248 0000
www.cnmarinas.com

Camper & Nicholsons Grand Harbour Marina, Malta

Introduction

e last covered the subject of marinas in a Superyacht


Intelligence Quarterly in 2009 and are now making a
timely return to the topic. In this edition we are pleased
to be partnering with Camper & Nicholsons Marinas International,
one of the worlds leading marina operators, who have provided us
with data on the marina sector to include within this report.
The marina market is arguably more resilient than other areas of
the industry. Owners can simply choose not to build or buy new
yachts when times get tough, prospective guests can choose
not to charter a vessel. Existing superyacht owners or charter
companies cannot, however, choose not to berth their yachts.
As the superyacht fleet never noticeably shrinks in numbers,
demand for berths still exceeds demand. These market conditions
offer ample opportunity for new marinas with a competitive
strategy to fill their berths and generate a profit.
NEED TO CLARIFY SIQ FOCUSES ON YACHTS OVER 30M
ONLY
Ellie Brade
Editor
Front cover image: Corbis

Analysis of the Marinas Sector

Analysis of the Marinas Sector

Analysis of the Marinas Sector

22

this does not reflect badly on other destinations around the


world which, of course, are popular in their own right.

2 41
25
2

origins dating back to 1782 when boat building began at


Gosport, in the south of England. Camper & Nicholsons
Marinas has specialised in marina investments and
waterfront development for over 40 years and has provided
services to clients in more than 25 countries worldwide.

11

35

Fleet Overview

As is discussed in more detail later in this Quarterly, there is


huge potential for the marinas industry. A marina provides
a service for yachts as either a homeport or as a transient
base and, like the refit and repair sector, it is driven by
the existing, and growing fleet. With increased movement
of superyachts away from the typical and overcrowded
cruising grounds, the potential for newer facilities is also in
existence.

amper & Nicholsons Marinas International have


joined forces with Superyacht Intelligence to provide
data on the marinas market, sourced from the
detailed marinas database that they maintain. Camper &
5000
Nicholsons is widely recognised to be one of the worlds
oldest and most prestigious yachting business names, with

The total delivered superyacht fleet numbers 4,117


yachts,1 and has seen an increase of 95.2 per cent over
the last decade [2001-2010]. The delivered fleet has a
combined length of 168,558 metres, all of which needs to
be housed somewhere. As well as those yachts already
delivered, 392 yachts are in the order book, totalling an
additional 168,558 metres, with the average sized yacht in
build measuring 45.2 metres. As Figure 1 demonstrates,
the fleet has seen a consistent increase over the last 20
years, with this set to continue, albeit perhaps not at the
accelerated rates seen in the boom years of 04-08.

35

Number of berths versus


number of yachts

78
2

TUNISIA

MONTENEGRO

CROATIA

CYPRUS

GREECE

ITALY

MALTA

SPAIN

TURKEY

MOROCCO

south of
france
& Monaco

Figure 2: Number of superyacht marinas


Mediterranean breakdown

FLORIDA
CARRIBBEAN

51

4,057

4,000
4000

70

3,866
3,667
3,411
3,174

3000
3,000

2,912
2,733

NUMBER OF YACHTS

2,556

2,000
2000
1,409

1,486

1,565

1,642

1,701 1,762

1,843

1,930

2,033

2,140

2,255

2,401

Figure 3: Number of superyacht


marinas Caribbean/Florida breakdown

Numbers of superyacht marinas

1000
1,000

00
91

92

93

94

95

96

97

98

99

00

01

02

03

04

YEAR

Figure 1:
Growth of the superyacht fleet (year on year)
1 Correct at the time of going to press in June 2011

05

06

07

08

09

10

Figure 2 displays a breakdown of the number of marinas in


the Mediterranean, where Italy dominates with the largest
number of marinas, followed by the South of France and
Monaco and Spain. This is a predictable result, with these
areas being under the most demand for berthing space
with the numbers of berths having reached these levels
due to high demand.

In terms of where superyachts want to be based our


research shows that the Mediterranean is the most
popular region for cruising superyachts and homeports,
with over 60 per cent of superyachts having their base
there. The Mediterranean is followed in popularity by
Florida and the Caribbean, which have a combined total
of 121 marinas (see Figure 3). As a result, for much of this
analysis we have included breakdowns of data specific to
the Mediterranean and Caribbean and Florida, although

Figures 4 and 5 (overleaf) show that as the fleet has


grown so too the numbers of superyacht berths in the
world have been climbing. This is presumably due to the
increased numbers of marinas being opened in response
to demand and the potential of the marinas business and
the expansion of existing facilities for the same reasons.
Mirroring the breakdown of the global superyacht fleet,
the most numerous berths are those between 30 and
40 metres. All size brackets have seen an increase in
numbers of berths over the 2006-2010 period. Growth
in berth numbers has generally been in line with the
growth in numbers of yachts in each size category that
have launched. With ongoing fleet growth, the continued
increase in the number of berths should also be expected.
Of course, whilst numbers of berths and yachts seem to
correlate quite nicely, it is important to remember that just
because there might be enough berths for every yacht in the
fleet, this does not mean that these berths are necessarily
where a yacht might need them to be. Twenty-five 50-metre
berths available in Abu Dhabi are irrelevant if the owner of a
yacht wants a berth in Nice and cant get one.
Figure 6 shows the breakdown of the numbers of
superyacht berths in 35 countries, and the growth in
numbers of berths during the 2006-2010 time period.
Whilst the numbers of berths in some countries have
remained static, growth can particularly be seen in
Spain, Italy, the United States and Turkey and Monaco,
presumably in response to increased or anticipated
demand on the regions. What is interesting to note is the
lack of growth in France, perhaps suggesting a saturation
of the current space and an inability to significantly increase
numbers of berths, despite the clear demand on the area.
This highlights opportunity for marina operators looking
to capitalise on the increasing market of yachts looking
around for alternative berthing space. Some examples of
how this has been done already by marina operators can
be found on page 18. Numbers of berths per country by
size bracket can be found in Figures 7 to 13.

Figure 6: Number of available superyacht berths by country (year on year)


85
87
91
93
105

97
105
110
110
129

1,200
1200

2010

25002,500
+4%

20002,000

+6%

VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

75-100m

VENEZUELA

14
14
14
14
17

UNITED STATES

50-60m
60-75m
SIZE CATEGORY

TRINIDAD & TOBAGO

TURKEY

TUNISIA

TURKS & CAICOS ISLANDS

COUNTRY

40-50m

SYRIA

0
261
273
278
285
297

300
300

SLOVENIA

Figure 4: Number of yachts in the fleet by size bracket

PUERTO RICO

+78%

35-40m

673
694
719
743
798

954

1,250

THE PHILIPPINES

30-35m

MALTA

100-150m

821
834
855
871

2009

MONTENEGRO

2007

1,288
1,311
1,339
1,353
1,467

1500
1,500

MOROCCO

900
900

NUMBER OF berthS

2006

SAINT LUCIA

20
20
23
24
27

646
692
738
783
830

2008

CAYMAN ISLANDS

JAMAICA

30003,000

ITALY

ISRAEL

+10%

CROATIA

75-100m

GREECE

GIBRALTAR

60-75m

GRENADA

106
115
123
137
154
50
52
60
63
70

00

FRANCE

50-60m
SIZE CATEGORY

SPAIN

500 500

EGYPT

40-50m

DOMINICAN REPUBLIC

208
225
251
267
285

250

CYPRUS

35-40m

CUBA

30-35m

BAHAMAS

750
713
772
840
891
928

1000
1,000

BARBADOS

0
1,430
1,533
1,630
1,698
1,760

1500
1,500

ARUBA

NUMBER OF YACHTS

1,750

NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

15001,500

10001,000
NUMBER OF BERTHS

2000
Analysis
of the Marinas Sector

Analysis of the Marinas Sector

2006

2007

2008

2009

2010

600
600

500
500

100-150m

Figure 5: Number of berths (owned and for sale) by size bracket

+25%
2006

2007

2008

2009

2010

+9%

+2%
+533%

+422%

Figure 8: Number of available 35-40m superyacht berths by country (year on year)


SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

+4%

200
200
200

+1%

+6%
+51%

150
150
150
+3%

VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

VENEZUELA

UNITED STATES

TRINIDAD & TOBAGO

TURKEY

TUNISIA

TURKS & CAICOS ISLANDS

SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

MONTENEGRO

MOROCCO

SAINT LUCIA

CAYMAN ISLANDS

JAMAICA

250
250
250

VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

VENEZUELA

UNITED STATES

TRINIDAD & TOBAGO

TURKEY

TUNISIA

+11%

MONTENEGRO

MOROCCO

SAINT LUCIA

COUNTRY

TURKS & CAICOS ISLANDS

COUNTRY
CAYMAN ISLANDS

JAMAICA

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

SPAIN

EGYPT

DOMINICAN REPUBLIC

CYPRUS

CUBA

300
300
300

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

200
200

SPAIN

EGYPT

DOMINICAN REPUBLIC

CYPRUS

CUBA

50
50
150
BAHAMAS

BARBADOS

ARUBA

NUMBER OF BERTHS

100
100
100

BAHAMAS

BARBADOS

ARUBA

0
0
NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

0
0

NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

100
100
100

NUMBER OF BERTHS

Analysis of the Marinas Sector


Analysis of the Marinas Sector

+30%
2006

2007

2008

2009

2010

150
150
150

+2%

+10%
+100%

50
50
50
+425%

Figure 7: Number of available 30-35m superyacht berths by country (year on year)

200

2006

2007

2008

2009

2010

+100%
+9%

+400%

Figure 10: Number of available 50-60m superyacht berths by country (year on year)
SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

+9%

+64%

80

70
+29%

60
60 60

50
50 50
VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

VENEZUELA

200

VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

VENEZUELA

UNITED STATES

TRINIDAD & TOBAGO

TURKEY

TUNISIA

+17%

UNITED STATES

+100%

TRINIDAD & TOBAGO

20
20 20

TURKEY

TUNISIA

COUNTRY

TURKS & CAICOS ISLANDS

SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

MONTENEGRO

MOROCCO

SAINT LUCIA

+400%

MONTENEGRO

MOROCCO

SAINT LUCIA

CAYMAN ISLANDS

JAMAICA

+20%

TURKS & CAICOS ISLANDS

COUNTRY
CAYMAN ISLANDS

JAMAICA

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

150
150 150

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

SPAIN

EGYPT

DOMINICAN REPUBLIC

CYPRUS

CUBA

BAHAMAS

BARBADOS

ARUBA

NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

100
100 100

NUMBER OF BERTHS

200
200

SPAIN

EGYPT

DOMINICAN REPUBLIC

CYPRUS

CUBA

BAHAMAS

0
0
BARBADOS

10
10

ARUBA

80
80
70
70

NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

NUMBER OF BERTHS

Analysis of the Marinas Sector


Analysis of the Marinas Sector

2006

2007

2008

2009

2010

+2%

50
50
50
+100%

0
00

Figure 9: Number of available 40-50m superyacht berths by country (year on year)

2006

2007

2008

2009

2010

40
40 40

+20%

30
30 30

+8%

10
+50%

Figure 12: Number of available 75-100m superyacht berths by country (year on year)
SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

MONTENEGRO

MOROCCO

SAINT LUCIA

30

25

20
20

+14%

15
+200%

VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

VENEZUELA

UNITED STATES

TRINIDAD & TOBAGO

TURKEY

TUNISIA

+230%

VIRGIN ISLANDS (US)

VIRGIN ISLANDS (BRITISH)

VENEZUELA

UNITED STATES

TRINIDAD & TOBAGO

TURKEY

TUNISIA

SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

MONTENEGRO

MOROCCO

SAINT LUCIA

CAYMAN ISLANDS

JAMAICA

TURKS & CAICOS ISLANDS

COUNTRY

TURKS & CAICOS ISLANDS

COUNTRY
CAYMAN ISLANDS

JAMAICA

35

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

SPAIN

EGYPT

DOMINICAN REPUBLIC

CYPRUS

35

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

SPAIN

EGYPT

0
DOMINICAN REPUBLIC

CYPRUS

0
CUBA

0
BAHAMAS

CUBA

15
10

BAHAMAS

BARBADOS

10

BARBADOS

15

ARUBA

20

ARUBA

25

NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

NUMBER OF BERTHS

30

NETHERLANDS ANTILLES

ANTIGUA & BARBUDA

10

NUMBER OF BERTHS

Analysis of the Marinas Sector


Analysis of the Marinas Sector

11

2006

2007

2008

2009

2010

20

15

+60%
+400%
+100%

Figure 11: Number of available 60-75m superyacht berths by country (year on year)

2006

2007

2008

2009

2010

10

5
+100%

6
6

5
5

2008
2009

2
2

2010

VIRGIN ISLANDS (US)

VENEZUELA

UNITED STATES

TRINIDAD & TOBAGO

TURKEY

TUNISIA

VIRGIN ISLANDS (BRITISH)

COUNTRY

TURKS & CAICOS ISLANDS

SYRIA

SLOVENIA

PUERTO RICO

THE PHILIPPINES

MALTA

MONTENEGRO

MOROCCO

SAINT LUCIA

CAYMAN ISLANDS

JAMAICA

ITALY

ISRAEL

CROATIA

GREECE

GIBRALTAR

GRENADA

FRANCE

SPAIN

EGYPT

DOMINICAN REPUBLIC

CYPRUS

CUBA

BAHAMAS

BARBADOS

ARUBA

0
ANTIGUA & BARBUDA

0
0

2007

3
3

1
1

2006

NETHERLANDS ANTILLES

NUMBER OF BERTHS

4
4

13

Analysis of the Marinas Sector

Analysis of the Marinas Sector

Figure 13: Number of available 100-150m superyacht berths by country (year on year)

25 42 08 N 56 16 34 E

Camper & Nicholsons Yas Marina, Abu Dhabi

ZIGHY MARINA
N

A T

L Y

Naturally Beautiful
Nestled on the coastline of the Musandam peninsulas rugged mountain fjords, Zighy Marina is a sustainable, boutique marina
destination offering 60 berths. Designed in the traditional architecture of Oman, the marina is a mere two-hour drive from Dubai and
it offers spectacular scenery, great water sports, and fascinating marine wildlife. Zighy Marina sits on Zighy Bay, adjacent to the Six
Senses Resort - it enjoys some of the best views in Oman.

T. +968 95 95 97 52 / E. feras@artmarine.net / www.zighymarina.com

MANAGED BY

Analysis of the Marinas Sector

29

2500
2,500

24 24 25

DELIVERED IN YEAR

43

43

linear (cumulative)

40 40
NUMBER OF BERTHS

32

35

35

2007

2008

2009

32

30 30
20 20
10 10
0

2006

GREECE

MONTENEGRO

65

176
339

564
272
272

350

CROATIA

MALTA

376

250

ITALY

184

COUNTRY

CUMULATIVE

50 50

00

FRANCE

As Figure 15 shows, albeit from a Mediterranean only


perspective, the rate of growth in the number of berths
that are able to host a 90-metre+ yacht is not as sharp
a growth as the numbers of the 90-metre+ yachts being
launched.

500
500

TUNISIA

Figure 14: Growth of the number of 90-metre yachts

1,000
1000
718

YEAR

1500
1,500

154
154

91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10

MAX DAILY

61

1010

19 19

SPAIN

18 18 18 18 18 18

COST IN EUROS

2020

MIN DAILY

2000
2,000

21

131
212

28

35

2,191

3030

34

MOROCCO

33

CYPRUS

40

4040

The Top 15 most expensive marinas list published by


Engels and Vlkers (as covered on page 30) piqued
a lot of media interest and highlighted just how much
money superyacht owners can be expected to pay to
berth their yacht at some of the premium facilities around
the world. These prices may also be some reflection of
why we are seeing increasing trends of owners looking
at different berthing options, both from a location and
price perspective. Although these 15 marinas represent
the most expensive, the range of tariff prices across the
globe is vast.

117
215

TOTAL NUMBER OF YACHTS LAUNCHED

46
42

How much a berth costs to rent can often be the most


important determining factor in terms of numbers of
yachts visiting a marina. It is also an interesting reflection
of which are the most popular locations based on the
prices that can be demanded for a yacht to stay in
each location.

490

5050

Rental and purchase prices


of berths

224
224

One issue that we have addressed many times in print


is the increasing numbers of larger yachts, and the
question of where these yachts can be housed, and
also refitted. The number of marinas and facilities able
to host larger yachts is, naturally, limited. As the fleet
continues to grow, so too do the number of yachts of 90
metres+, as shown in Figure 14. Increased numbers of
yachts in this size bracket are being commissioned, with
46 currently delivered and another 15 in build. Yachts of
this size make up a very small proportion of the fleet, but
their increasing numbers will nevertheless put increasing
pressure on marinas and their ability to house yachts of
this size.

TURKEY

Berthing 90-metre+ yachts

2010

2011

Figure 15: Number of berths able to house


a 90-metre yacht Mediterranean

Figure 16: Average rental tariff


(minimum and maximum) for a 40-metre yacht
Mediterranean by country breakdown
Figure 16 shows a cross section of tariff rates in
Mediterranean destinations (minimum and maximum
prices) and Figure 17 the same cross-section for the
Caribbean and Florida. As the average LOA of all
delivered superyachts is 40.12 metres, a 40-metre
yacht was selected as the sample size to display the
tariff prices for. Italy is demonstrably the most expensive
country to berth a 40-metre yacht on maximum rates,
with the average maximum being 2,191 Euro. Spain,
similar to Italy, has a large gap between the average
minimum and maximum rates. Suprisingly, Croatia also
has a high average, perhaps reflecting its increased
popularity as a destination.

15

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New Marinas planning and execution

149

10000
10,000

59

UNITED STATES

COUNTRY

e 17,389

TUNISIA

SPAIN

MOROCCO

MALTA

ITALY

GRENADA

Figure 17: Average rental tariff (minimum and


maximum) for a 40-metre yacht Florida/Caribbean

GREECE

FLORIDA

GIBRALTAR

REGION

FRANCE

CARIBBEAN

BAHAMAS

00

00

AUSTRALIA

100
100

e 14,129

200
200

20000
20,000

e 19,648

300
300

30,000
30000

e 4,772

COST IN EUROS

400
400

40,000
40000
e 19,672

COST IN EUROS

535

500
500

e 35,747

50,000
50000

600
600

e 27,041

635

COST PER LINEAR M

e 11,048

60000

e 14,129

700
700

e 34,043

60,000

MAX DAILY

e 42,689

MIN DAILY

800

e 51,983

Analysis of the Marinas Sector

Figure 18: Average cost (in euros)


of berths by country breakdown
For those looking to purchase, rather than rent, a berth
at which to base their yacht, Figure 18 demonstrates
that predictably they can expect to pay a high premium
for berths in the most popular areas. Unsurprisingly,
the graph shows that berths in the Mediterranean are
considerably more expensive than elsewhere, and there
is a clear pecking order by price with France and Italy
predictably topping the list.
This graph serves as a guide to berth prices as there are,
of course, considerable variances between marinas in
each country and also between the cost per metre for a
30-metre berth and a 100-metre berth.

Conclusion

In conclusion, the above data demonstrates that whilst the


number of marinas and berths is increasing with regularity
each year, the numbers of berths and marinas in the most
popular cruising zones will continue to be under pressure
and the cost of buying and temporarily renting a berth in
these locations will reflect this. The pressure on popular
areas will likely continue to drive the development of
newer marinas and accompanying facilities, with additional
motivation for new marinas being the desire to capitalise
on the lucrative marinas market.

New Marinas planning and execution

uropes most popular and fashionable


marinas are full to bursting, with escalating
mooring fees and berths for the high season
fully booked many months in advance. Those who
invested in space in prime locations are now sitting
on a valuable asset. The superyacht fleet, however,
continues to grow both in length and numbers
and it is increasingly difficult for owners to get a
berth in their first choice location. Despite tough
times throughout the superyacht industry there is a
pressing need to update and expand the yachting
infrastructure in popular and upcoming cruising
grounds.
We interviewed nine marinas that have opened in
the last five years about the difficulties they faced
opening on the eve of, or during, the economic
crisis, and why they felt the time was ripe for a
new facility in their region. Marina at Marigot Bay
on St Lucia opened in 2006, whilst Vilanova Grand
Marina in Barcelona, Epic Marina in Miami and Porto
Montenegro have all been up and running since 2009.
Alcaidesa in La Linea de Conception in Northern
Spain opened its doors in 2010. Karpaz Gate in the
Turkish Republic of Northern Cyprus (TRNC), The
Emirates Palace Hotel Marina in Abu Dhabi and Lusail
City Marina in Qatar have only been in operation for a
matter of months. Lastly, Victoria International Marina
is still negotiating the final details of its building
permits and construction is due to commence at the
end of the year.

Market Research Prior to


Construction

In all nine cases plans to create new facilities were


driven by the belief that the absence of a similar
facility or excess demand elsewhere would drive
business to the marina. In the case of the new
marinas in Europe, their management teams were
confident that there would be an osmotic movement
of yachts from existing overcrowded established
marinas to a new and spacious port. Nevertheless,
it is essential to carry out extensive market research
before submitting plans to the local authorities.

Camper & Nicholsons Grand Harbour Marina, Malta

The management of Porto Montenegro explained: We


used one of the leading European consultancies to
implement a comprehensive market research analysis
for us. Their task was to advise on the size of vessels
a new marina could attract and, allied to that, its

potential client base. There was no comprehensive


marina facility in the TRNC, so Karpaz Gate did not
have a ready point of comparison. The management
company of Karpaz Gate commissioned a study
of potential long-term and short-term clients and a
competitor analysis of all the marinas in the Eastern
Mediterranean before designing their business
model. Vilanova Grand Marina in Barcelona is closer
geographically to the traditional superyacht hot spots.
Based on overcrowding elsewhere, the developers
made the intuitive decision to build Europes first
specialist superyacht facility. The waters around
Alcaidesa in Northern Spain are not a fashionable
cruising destination, but they do see high volumes of
yacht traffic travelling to and from the Mediterranean.
Prior to being awarded the concession, a study was
carried out to assess the level of demand from local,
transit and major European sailing communities.
Marina at Marigot Bay was developed from facilities
that had previously been used exclusively by a local
charter company. The developers felt that the bay
had a lot more potential to attract visiting yachts
considering the beauty of this sheltered location.
Their business plan was based on a push strategy;
the developers identified an opportunity and
proceeded to market it rather than popular demand
driving the development.
A similar strategy is evident in the approaches of the
two Middle Eastern respondents. Whilst interest in
yachting as a pastime is growing in this region, it is
far from the levels seen in Europe or the US. However,
various developers are aware of the potential of the
market and have sought to provide the infrastructure
to aid its growth. Lusail City Marina is part of the
wider Lusail City development. Upon its completion,
Lusail City is intended to become one of the most
futuristic cities on the planet and a superyacht marina
is well suited to its luxury focus. With this in mind,
marina operator Mourjan Marinas IGY was awarded
the contract to manage the facility.
Feasibility studies are one of their key offerings
and extensive analysis of market data was carried
out to establish how to compete effectively in
the Middle East. The developers of the Emirates
Palace Hotel Marina, on the other hand, had a
more straightforward task. The marina is part of the
Emirates Palace Hotel, one of the most luxurious

19

New Marinas planning and execution

New Marinas planning and execution

Linea de Conceptions waterfront and boost the local


economy; despite support from the authorities, it still
took four years for the project to gain approval.

Camper & Nicholsons Yas Marina, Abu Dhabi

hotels in Abu Dhabi, and its existing marina was


well out of date. Considering the hotels HNWI
clientle, there was a natural demand for a proper
superyacht facility.
It was not difficult for the developers of Epic Marina
to gauge demand as, despite multiple facilities in
nearby Fort Lauderdale, the decadent city of Miami
was completely without a superyacht marina. Instead
of breaking new ground Epic was developed from
an existing, out-of-date facility. On the other hand,
WAM development, the company responsible for
Victoria International Marina, realised that the Pacific
Northwest was almost a completely blank canvas
for superyachts. Vice-President of WAM Lachlan
MacLean explained the initial logic behind the plans:
It started with anecdotal evidence from just about
every marina in SW British Columbia having waiting
lists. Further investigation found that most marinas
in this part of the world were built 30+ years ago,
and had little or no capacity for boats over 50 feet
in length, so couldnt cope with the trend of people
wanting larger recreational boats. This observation
was followed by extensive market research with
associated marine business to assess their level of
demand for comparison purposes.
Market research governs any new marinas plans as
it measures demand, the needs of future clients and
determines pricing. It indicates the effect it will have
on the local community, which is an integral part of
gaining planning permission.

The Economic Advantages


of a New Marina

A comprehensive, well-managed and well-marketed


marina in an appropriate location should, over
time, become a hub for nautical tourism. This
inflow of tourist cash can be a powerful catalyst for
regeneration and growth in a region, and this effect
can already be witnessed in many of the marinas
surveyed.
Karpaz Gate is the first luxury marina in Northern
Cyprus, and is opening up a previously inaccessible
cruising ground. The marina has only just opened
so its impact on tourism income is not yet apparent,
but it has already created jobs and the local
government welcomed the development. It took
the developers only 10 months to gain approval
for the project. Porto Montenegro received similar
support; they took a redundant military base and
transformed it into a nautical village with multiple
divisions and job opportunities. The management
worked closely with the government to develop the
plans, and as a consequence it took only 12 months
to gain planning permission.
Vilanovas pitch to the local authorities echoed
that of Porto Montenegro and Karpaz Gate. The
management was confident that the marina would
generate jobs and income as well as promoting
Vilanova as a tourist destination. Planning permission
was granted within 18 months after an environmental
impact assessment had been carried out. Alcaidesa
Marina was an integral part of a plan to regenerate La

Marina at Marigot Bay was the result of a conscious


effort from regional authorities to regenerate the
area through yachting tourism. Marina Manager Bob
Hathaway outlined the way Marigot is spearheading
this initiative alongside the IGY facility at Rodney
Bay. Every effort has been made to maximise tourist
income, This has resulted in the appointment of
a consultant director in the Ministry of Tourism
with specific responsibility for the development of
the yachting industry, significant improvements in
Customs & Immigration arrangements and
substantial support for training and development
projects in and around the yachting industry. Despite
this initiative from the local government, extensive
market research meant that it still took five years for
the project to commence.
Like Marigot Bay, Lusail City is a government-driven
initiative, so the marinas within the development
were pre-approved before developers were invited
to bid for the project. There are seven marinas in
total and all will be operated by Mourjan Marinas IGY,
although only one has the capacity for superyachts.
The overall aim of these facilities matches that of
the other respondents: they are intended to benefit
the future residents of the city. However, instead of
providing jobs and facilitating economic growth they
are primarily intended to meet the communitys leisure
needs. Katrin Mueller, Marketing Manager of Mourjan
Marinas IGY, explained: The seven marinas under
Mourjan Marinas control will be aimed at different
niche markets, demographics and varying boat sizes.
Thus there will be something for all the people of
Qatar. As a consequence of this, Mourjan Marinas
IGY only waited two months between bidding for the
project and being awarded the contract.
Victoria International Marina was the brainchild of
WAM developments; they spotted the opportunity
that superyachts represented to the region. McLean
explained, The new marina will accommodate the
latent demand for permanent and transient moorage
here in British Columbia. This has a positive flowon effect to the local community in terms of jobs,
community access and services. But the local
planning authorities were wary of the proposed
development and the original plans had to be scaled
back. It has taken six years for the project to gain
approval and the final permits are still pending.
It is much more straightforward for developers to

build in areas where the government is looking for


additional revenue streams. Regions that already
have a profitable tourism are anxious to preserve
their coastline. Many developers have had to curtail
their plans in order to gain planning permission;
it is important that any designs are sensitive to
the surroundings.

Effects of the Global Economic Crisis


Like the existing marinas, all of these new marinas
have had to contend with the difficult market
conditions created by the global financial crises.
Many have had to adapt or streamline their
business model to ensure they can compete, as
most of the original plans were conceived when
the superyacht industry was at its peak. There
is no uniform means of securing investment for
a new facility. Most of the featured marinas used
a combination of revenue streams to raise the
initial capital, including share capital, corporate
investment, bank loans/mortgages and revenue
from onsite businesses. In all cases, the marinas
success in securing investment was dependent on
the management being able to prove that the project
was economically viable in the long term. Like any
development, a thorough approach at the planning
and market research stage was imperative.

The number of superyachts visiting the southern part


of the Caribbean is well down on previous years, with
a number of famous and beautiful anchorages in Saint
Lucia and Saint Vincent and the Grenadines empty for
days on end after the initial Christmas and New Years
rush. Despite this, revenue from long-term berthing
has been largely unaffected and has even grown
slightly as owners look for viable and cost-effective
homeports. The management of Marina at Marigot
Bay argues that the recession has forced managers
to keep the pencil sharp and think outside the box
in the development and marketing of the facility.
Porto Montenegro had the benefit of an experienced
management team to steer their strategy: We saw it
as an opportunity to position Montenegro as a highend destination and Port Montenegro specifically as
a premium marina with deliberate competitive berth
and residential pricing compared with the Western
Mediterranean. Karpaz Gate also had the support
of an experienced investor during the construction
period and they realised that demand in luxury
markets will always fluctuate. This support will be
invaluable to Karpaz in its first few years.
Vilanova was forced to amend the intended structure
of the marina in order to compete, its manager

21

New Marinas planning and execution


Ignacio Erroz explained, We decided to reduce
the number of moorings and increase the length of
yachts we could accommodate. Now we have 49
moorings from 25 to 80 metres. Originally, Vilanova
had planned to have 76 moorings between 20 and
60 metres. In order to survive the current economic
climate, we understand we have to ensure the quality
of our service and also the competitiveness of our
facility by adjusting our berth rental and purchase
fares, Erroz continued. Alcadaisa and Epic Marina
have had to respond to the economic conditions in a
similar way to Vilanova, by offering a comprehensive
service at very competitive prices.
The recession has affected developers in Lusail
City; many are in dire need of long-term contracts.
It forced Mourjan Marinas IGY to be more ruthless
when bidding for the concession to manage Lusails
marinas. However, once they won the contract
Mourjan Marinas IGY were upbeat: There is no
discernable reduction in boat owners and interest
in high-quality well managed marina facilities so we
remain very positive.

Secondary Sources of Revenue

Our research showed that developers of new marine


infrastructure often choose a location that gives them
enough space to create a comprehensive facility
to absorb the business from other oversubscribed
marinas. Or they are building in less developed
regions that are trying to increase their nautical
tourism. To attract guests, the marina needs to
become more than a boat park, it needs to become
a community. The sample of marinas surveyed is too
small to prove this trend conclusively, but there is
certainly evidence of it.
Karpaz Gate and Porto Montenegro are trying
to establish their regions as popular cruising
grounds and the concept of community is integral
to the design of their marinas. Porto Montenegro
commented, These businesses are crucial for us as a

destination as they drive visitors to our site, provide a


sense of community and help us round off our marina
village offer. Alcaidesa is aiming to meet the excess
demand for berths in Europe; the marina is still a work
in progress but it has devoted 25,000sqm of land to
retail; they want to provide guests with a choice of
locations to socialise. Marina at Marigot Bay has a
similar perspective, Commercial retail tenants are
an important source of revenue but they are not the
marinas primary income. They are important
because of the service they provide to hotel and
marina guests.
Victoria International, Vilanova, Epic and Lusail City
have a more traditional business model because they
are already part of tourist destinations. The town is
the initial attraction and the marinas facilities just
need to meet the practical needs of boat, guests
and crew.
The revenue raised by lease of the marinas land to
independent businesses is not usually its chief source
of income, but it yields a significant contribution to
overheads. Ultimately, if marinas cannot provide a
full service offering then guests will look elsewhere,
so the marina has a symbiotic relationship with the
businesses it has on site. Many marinas also have real
estate for sale or lease, but this completely depends
on the size and business model of the facility.
As the world emerges tentatively from the economic
crisis, the managerial mantra in all areas of industry
is one of regeneration and growth. The opportunity
that marinas present as a means of achieving this
regeneration is an appealing prospect to developers
and regional authorities alike. Marinas can profit
from superyachts but they are not dependent upon
them, and they have the support of multiple revenue
streams. Investment in marina facilities cannot
generate immediate stellar profits, but this type of
project has a flexibility that is absent from other areas
of the superyacht industry.

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MANAGED BY

Marina Operators

Marina Operators

Marina Operators

ver the past 15 years there has been


significant rise in the number of companies
operating chains of branded marinas and
the number of individual facilities they operate. This
is not a new business model, but the growth of the
superyacht fleet has presented greater opportunity to
profit from offering a network of luxury berths.

Business Model & Branding

Marina operators are a key market force because


they offer a standardised service in a disjointed
market. There are multiple examples of the marina
operator paradigm. [Despite their longevity Camper
& Nicholsons Marinas International (CNM) only own
and directly operate three facilities although they have
current and future involvement in four more.] IGY
(Island Global Yachting) run 12 marinas directly in six
countries; they have grown quickly considering they
only entered the market in 2005. MDL was founded
in the 1970s; they now operate 19 marinas in the UK
and have two European facilities, one in Italy and one
in Spain. Mourjan Marinas IGY was established in
2009; it has a strategic partnership with IGY and up
to now has focused on the emerging Middle East
and North African markets. ACI Marinas (Adriatic
Croatia International) have been in the industry for
25 years and have been influential in opening up
the Adriatic as a cruising ground. ART Marine LLC
opened in 2005; they have four facilities in the Middle
East and are seeking to expand their network as
quickly as is expedient.
Marina operators draw on a business model common
in the tourism industry: they become first choice for
superyachts by building a reputation for comfortable
facilities with a layer of luxury tertiary services. This
reputation can be transplanted across locations,
creating a brand preference for the chain. CNM
state in their corporate information; CNM aims to
consolidate a highly fragmented market and deliver
a compelling investment case for marinas as an
asset class. Marinas are more resistant to the forces
acting upon the macro economic environment than
other areas of the superyacht industry. They are not
dependent on luxury yachts for income. For example
IGY position themselves as a luxury brand but of the
1,700 slips on their portfolio only 250 are superyacht
berths. Marinas can generate revenue from smaller
yachts, management services, hosting events and
long-term berthing.

Investment

Flexibility is often an appealing prospect and


established operators are seen as a safe vehicle for
investment in this market. CNM has been listed on the
AIM London Stock Exchange since 2007 and many
operators have avenues for investment. Ready capital
to fund new projects is obviously essential for the
growth of marine infrastructure and the involvement
of marina operators will be key for the development
of new regions. Yachting Partners International
(YPI) have been an early entrant into the emerging
Asian market, launching YPI Asia in March of 2011.
Similarly, CMNI have recently announced that they
are forming a partnership with Brazilian company BR
Marinas to build a specialist superyacht facility in Rio
de Janeiro. Their confidence may means that other
investors will follow their lead.
Operators may own their marinas or manage them as
part of a third-party agreement, or have a mixture of
both in their portfolio. Also, their corporate expertise
can easily be applied to other independent marinas
and many operators have created profitable planning
and consultancy departments by breaking down the
value chain and retailing each aspect of it individually.
Services offered include feasibility studies, market
analysis, marina layouts and design, marketing and
branding, legal advice, staff training and operational
management.

Destination Marketing

The standard marina business model relies on the


marinas location to attract yachts. Whilst the area
surrounding it is very important a marina can become
a destination in itself if it is treated as a resort and
marketed accordingly. CNM explained the potential
of this strategy; Successful developments have
the opportunity to create destinations within a
destination, [which] generates opportunities for local
businesses, new leisure facilities and a wide range of
amenities. This has the potential to contribute greatly
to local economies as well as significantly increasing
the value of property surrounding the marina.
Destination marketing is vital to ART Marines
approach, and manager Bruno Meier explained
the companys ethos; We try to develop a specific
personality for each marina. For example, Zighy
Marina is an eco-friendly marina, where the berth

holders are encouraged to go back to nature and


enjoy the laid back atmosphere of the marina and
the Six Sense resort nearbyAt Emirates Palace it
is rather the opposite; everything is done with luxury
and exclusivity in mind, in order to blend in with
the palaces standards. Each marina has its own
personality but each is expected to conform to ARTs
brand standards.
To succeed in this strategy, marina managers need to
have a comprehensive understanding of branding and
destination marketing. This is essential in upcoming
cruising grounds, as sailors need to be persuaded to
break their habits and go somewhere new. Operators
have the advantage in this regard because they
have the resources and the experience to promote a
marina in this way.

Marina Operators in the


Local Community

A new marina can benefit a community by facilitating


tourism and creating jobs, but despite this most
communities are likely to be wary of large multinational corporations and large-scale construction
projects and it is important for marinas to counter
this. IGY has a strong corporate social responsibility
track record. After Hurricane Tomas hit St Lucia in
2010, IGY shipped a mobile desalination plant to
deliver fresh water to the community. On St Maarten,
IGY worked with local environmental groups to fund
the acquisition of a mobile pump-out station to
create a cleaner Simpson Bay Lagoon. It has also
been involved in various charitable initiatives in all
of its locations. IGY explained the significance of
its activities, We believe that our success is tied
to the success of the countries and communities in
which we operateWe also use our knowledge and
resources to work with local tourists and governments
to lobby for changes in regulation that will promote
and foster nautical tourism. CNM believe that it is
advantageous for an experienced operator to run a
new marina, We think it is very beneficial as we are
able to use our global knowledge and experience,
while implementing it locally following cultures and
traditions and employing local people.
Essentially, it doesnt matter who is running the
facility as long as it benefits the community and is
ecologically respectful. Operators have an advantage
because they have the experience to build, market
and, crucially, integrate a new marina into the regions
infrastructure. There have been other cases in the
tourist industry where the influx of visitors to a site

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has been so rapid the infrastructure has been badly


planned and rushed. Established marina operators
can prove that they have the experience and
resources to develop a facility that is viable in the
long term.

Expansion Plans & New Markets

There is greater optimism for the future in the marina


market than in other areas of the industry. The 2011
Forbes Rich List 2 highlighted that there are now more
billionaires than ever before (1,210), with big jumps in
the numbers of UHNWI in the BRIC countries (Brazil,
Russia, India and China) and in the Asia Pacific
Region. Regional superyacht associations have been
set up in many places to promote the industry, and
some of the most high-profile marina developers and
operators have been quick to position themselves in
these emerging regions.
Mourjan Marinas IGY established their brand in the
MENA (Middle East North Africa) markets, but are
ready to examine the potential of new regions. From
the middle of 2011 and increasingly during the 12
months thereafter, you will see our brand prominence
in the Mediterranean escalate as we grow our
network of facilities in this mature market. Australasia
is of strong interest to Mourjan and demonstrating
increasing ability to take its place in the international
cruising pattern; that same two-year period will see
us take an increasing profile in these markets.
ART Marine, on the other hand, will be expanding
their chain of boutique marinas: We plan to add
at least two marinas to our network every year.
However, the number of marinas operated is not
an important criterion, but rather the quality of the
locations [and] the quality of our services. ART is
one of the first operators to try this boutique concept
across a network and success would be likely to
have an impact on the strategy of other entrants
to the industry.
Operators have the investment capital to fund growth,
and have the market intelligence to spot emerging
trends. They will be a key force for growth in new
regions, and their influence will work influence
standards in the industry as more independent
marinas buy their management services or imitate
their business strategy.

25

Environmental Marina Management

Environmental Marina Management

yachtsman should champion any initiative


that protects the cruising grounds they
love. But, until recently, most of the existing
marine infrastructure has been inadequate to
allow recreational sailors to do the right thing
environmentally. International legislation acts to
limit the impact of all shipping activity, but the
development and regulation of land-based marine
facilities is a matter still governed by local and
regional authorities. As a result, there are varying
standards of environmental marina operation across
the world. A marina trades on its location and
managers are waking up to the fact that it is in their
best interests to provide their guests with the means
to protect it.

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The MARPOL regulations were designed to address


the levels of pollution from maritime transport and
yachts and nearly all registries are required to
conform. 135 countries are parties to the convention,
representing 96 per cent of the worlds shipping,
and member nations are responsible for monitoring
all vessels. Yachts are guilty of leaking pollutants
such as bilge water, lubricants, fuel and black and
grey water into the sea, on top of carbon emissions
from engines. But the volumes involved are tiny
comparatively, and chemically the overall impact of
the recreational yachting industry, even superyachts,
is minimal compared with the impact of commercial
shipping. A study commissioned by the European
Confederation of Nautical Industries (ECNI) in 2009
found that recreational yachting accounted for just less
than one per cent of the pollution affecting the marine
environment. Land-based activities and atmospheric
inputs are responsible for 44 per cent and 33 per
cent of marine pollution respectively, with all maritime
transport contributing 12 per cent to the total figure.

The Impact of Yachting

The consequences of pollution from recreational


yachting is largely aesthetic; even though the
industry is a minor environmental offender compared
with shipping and fishing, its impact can be highly
visible, particularly in areas of concentrated activity.
Discharge of sewage causes temporary discoloration
of the water and an overpowering smell, whilst bilge
water leaves that telltale rainbow sheen. Marinas
can help protect these cruising grounds by providing
waste-oil disposal and sewage pump-out.

The Operational Impact of Marinas

Marinas are an environmental anomaly in recreational


yachting because the failure or misuse of installations
or equipment can have a serious impact. Pollutants
can enter the environment in dangerously high
volumes. Fuelling stations, sewage pump-out
facilities out or the lack of them, the accumulation
of rubbish from all visiting yachts and waste from
refit and repair yards all pose a threat if they are not
properly managed. The underwater structure of the
docks inhibits the flow of the water and can cause
it to stagnate or renew itself very slowly. The impact
of a marina can be reduced if it is addressed in the
planning phase and actively managed in the facilitys
day-to-day operations. Environmental advocates
argue that marinas must do more than the bare
minimum to meet local regulations and take the
initiative in managing their impact.
Not only is this the responsible source of action, it
also makes economic sense. The managers of a
clean, well-operated marina will have their clients
confidence, and guests will be grateful if the marina
provides them with the facilities to protect the cruising
grounds they love.

Environmental Initiatives

IS014001 is a standard environmental managerial


framework for any organisation designed by the
International Standards Organisation (ISO). It is based
on the principle of continuous improvement and the
first phase of the scheme is broken down into stages
of plan, do, check and act. At the plan stage
the marina must thoroughly assess its impact and
devise a strategy to address it that is both specific
and achievable. The do stage is the practical
implementation of this strategy and the check
phase examines how effective the strategy is. Lastly,
the act phase acts upon any recommendations
made at the check phase. The second phase is
expansion, enrichment and upgrading, where the
scheme is extended to cover more business areas
and where the structural framework of the strategy is
streamlined. To gain certification the company must
then be audited by one of the accredited bodies,
for example Lloyds, Der Norske Veritas or Bureau
Veritas. There are multiple companies and they must
be listed on the ISOs register of certificating bodies.
Certification is usually valid for a period of three years.
Considering that compliance is such a rigorous

27

Environmental Marina Management


and time-consuming process it is unsurprising
that marinas with ISO14001 are not that common.
Nonetheless, it has become commonplace for
marinas to provide recycling facilities and waste-oil
collection, particularly in Europe, the US, Australia
and New Zealand. Sewage pump-out, however, is
not as widely available as it should be and MARPOL
regulations governing the discharge of holding tanks
are often ignored.

marinas and authorities is the biggest impediment


to achieve the right balance between marinas and
general coastal resources. The only way [forward]
I see is for marina managers/directors of a certain
region to explain the marina business and social
impact to the authorities. A good economical impact
study should always be done, as authorities do not
understand subjective reasons but believe
in numbers.

A marinas environmental management strategy


needs to connect smoothly to the infrastructure in
the wider region. Many facilities in undeveloped or
island communities try to deliver both a luxurious and
an environmentally sound service. Despite efforts,
the case may be that the regions wider infrastructure
(transport, garbage, sewage, recycling) is already
inadequate or cannot take the extra strain placed
upon it by the influx of yacht traffic. If marinas are
not carefully planned they run the risk of damaging
the landscape that their guests come to enjoy.
Developers responsible for developing marinas for
regions that are trying to dramatically increase the
number of visiting yachts and superyachts, such
as Asia, the Pacific and the Middle East, need to
understand where new facilities will fit in the regions
existing infrastructure.

Environmentalism as an Opportunity

Oscar Siches, manager of Marina Pantalan del


Mediterraneo, ICOMIA Member and independent
marina consultant, argues that local authorities across
the world are dismissive of the economic significance
of marinas and therefore it is difficult to get their
needs legislated for. He explained the situation
further: The lack of common language between

Club De Mar Mallorca

A well-planned and well-operated marina can become


an integral part of the community and can be a means
of promoting development or regeneration through
nautical tourism. Locals should be encouraged to
take an interest in its management; in the most
mercenary sense, environmentally sound operation
protects a communitys livelihood. Siches insists,
Everybody can implement and environmental
strategy without any extra cost. The secret is to tailor
such a strategy to your real possibilities. A basic start
is a lot more than no start at all.
A larger marina with comprehensive facilities can
become a hub for the yachting community, and the
environmental care that it demonstrates sets an
example to its guests. Environmentalism can also,
to the cynic, present an opportunity. The impact
of yachting can be reduced if individuals take
responsibility for their activities and the process
of educating marina users in sound environmental
practice becomes a form of marketing in itself. A
marina that can provide the primary and ancillary
services for yachts to do the right thing will
immediately have a competitive advantage.

Our Club installation is managed through three basic goals: security, privacy
and exclusivity. Private harbour.

Muelle Pelaires s/n, 07015 Palma de Mallorca, Spain


Tel: +34 971 403 611
Fax: +34 971 403 618
E-mail: secretaria@clubdemar-mallorca.com
www.clubdemar-mallorca.com

Club de Mar ad SIQ10.indd 1

13/07/2011 17:12

GHANTOOT
MARINA

& RESORT

24 51 35 N 54 53 40 E

< Du bai approx 40 mins


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Abu Dhabi approx 40 mins >

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The warm welcome you receive will make you feel like a friend and the relaxed atmosphere that surrounds you will make you feel as
if you were at home. Located only 20 mins from Dubai and 40 mins from Abu Dhabi, Ghantoot Marina & Resort is a truly unique and
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The marina has 300 berths available, 7 of which will accomodate superyachts up to 55m.

T. +971 2 562 9168 / E. peter@ghantootmarina.com / www.ghantootmarina.com

MANAGED BY

Engel & Vlkers the 15 most expensive marinas

Interview: Robert Perrochio of ICOMIA

Engel & Vlkers


the 15 most expensive marinas

n May 2011 the luxury real estate and yacht agents


Engel & Vlkers published a list of what they ranked
as the top 15 most expensive marina berths in the
world. The prices commanded by the marinas featured
highlight the potential of the marina market and also the
shortage of premium superyacht berths. The fees charged
for a 55-metre superyacht during the high season was
the variable used to form the list. The marinas are ranked
according to the euro rate of exchange as of 3 May 2011.
All but one of the marinas on the list is located in Europe.
A concentration of HNWI combined with an established
superyacht culture makes Europe a honey pot destination
for yachts. Marina Grande and Porto Cervo in first and
second place are on the islands of Capri and Sardinia,
whilst Marina di Portofino is in the small fishing village
of Portofino, Genoa. A 55-metre berth in one of these
marinas will set a superyacht owner back between 2,100
and 2,585 per night. Spain and France each have three
marinas on the list; the French Riviera has long been a
popular luxury cruising destination and various spots on
the Spanish coast and the Balearics have achieved the
same status.
Yacht Haven Grande on St Thomas in the US Virgin
Islands is the only marina outside Europe to appear. A
spokesperson for the IGY operated facility explained the
islands success, The convenience of St Thomas as a
destination is largely due to Yacht Haven Grande
a marina built explicitly to accommodate large yachts.

Place
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

Marina
Marina Grande
Porto Cervo
Marina di Portofino
Puerto Jose Banus
Ibiza Magna
Port de Saint-Tropez
Port Camille Rayon
Marina Port Vell
ACI Marina Split
Yacht Haven Grande
Port Hercules
Setur Marina Kalamis
Setur Marina Cesme
Porto San Rocco
Port de la Plaisance Bonifacio

Interview: Robert Perrochio of ICOMIA

The marina has emphatically marketed itself as a luxury


facility and this focus is reflected in the price of its berths.
Two Turkish marinas run by the Setur marinas chain have
made the list, Marina Kalamis and Marina Cesme occupy
12th and 13th place. Harry Peralta, a broker at Engel &
Vlkers Yachting Shop in Marbella, gave his insight into
the next it superyacht destinations, Turkey is becoming
quite popular; there are a lot of Turkish buyers at the
moment; also Croatia is seeing more superyachts it has
virgin coast, the superyachts are there and every year you
see more.
However, even top-end marinas havent been immune to
the economic crisis. Peralta commented: I can tell you
that we have our office at Porto Banus and the marina
is half empty because the prices are so high, yachts are
moving to cheaper mooring due to the crisis that is going
on all over the world. There are new marinas nearby,
Sotogrande or Alcaidesa. The prices continue to rise and
they never come down, so yachts go elsewhere.
It is hard to find berths in the larger size ranges, demand
exceeds supply which leads to such high prices. So whilst
smaller yachts can pick and chose their berths, larger
yachts dont always have the luxury of choice. The growing
fleet, combined with the rising fees in the top marinas,
presents a significant opportunity for managers to attract
superyachts looking for new marinas.

Location
Capri, Italy
Sardinia, Italy
Portofino, Italy
Marbella, Spain
Ibiza, Spain
Saint-Tropez, France
Golfe Juan, France
Barcelona, Spain
Split, Croatia
St. Thomas, US Virgin Islands
Monte Carlo, Monaco
Istanbul, Turkey
Izmir, Turkey
San Rocco, Italy
Corsica, France

Price per Day


2,585 euro
2,574 euro
2,100 euro
2,069 euro
1,643 euro
1,356 euro
1,100 euro
1,084 euro
1,001 euro
889 euro
888 euro
882 euro
743 euro
720 euro
690 euro

Figure 19: Ranking list of the most expensive marina berths in the world, according to Engel & Vlkers

rom 10 to 12 of May this year, the International


Council of Marine Industry Associations (ICOMIA)
held its triennial World Marinas Conference at
Singapores Swissotel The Stamford. 270 marina industry
professionals attended the event; topics for debate
included marina operation and management, planning and
development, online marina promotion and management
and marina industry education and training.
SIQ interviewed Roberto Perocchio, Chair of the ICOMIA
Marinas Committee, about the latest conference.
Roberto was born into the marina business, as his family
established Marina del Cavallino near Venice in the 1970s.
Roberto has been head of the business since his father
passed away in 1989. He has also been President of
the Venetian Caravan Park Association and President of
Venice Yacht Pier whilst remaining closely involved with
the operation of Marina del Cavallino. Roberto is currently
President of Assomarinas, the Italian marina association.

How long have you been involved


with ICOMIA?

Ive been involved with ICOMIA since 1990 when we


founded the ICOMIA Boating Facilities Committee,
which is now the ICOMIA Marinas Group. There was
a deep lack of information about marinas in many
countries at that time, and ICOMIA understood it
was necessary to provide emerging countries with
a better flow of information concerning marinas,
their best construction and management practices,
their importance for coastal economies and their
contribution to international tourism. Thus we
decided to start our outreach activityorganising
successful meeting in many different countries and
preparing a world marina conference every three
years to stimulate contacts among marina operators,
and to invite national and local authorities in order to
drive their attention to marina related investments
and permits.

What was the most positive outcome


of the event?
At past conferences, delegates from all over the
world could find a lot to discuss and learn. The
same applies to educational field trips like visits to
Amsterdam, Genoa, Fort Lauderdale, Sydney, San
Diego and Ostend. But this Singapore edition has
been far more successful in terms of contacts with
emerging markets and enthusiasm for the future
growth of leisure activities. The conference has

produced an acceleration of the positive relationship


between the experienced North American, European
and Australian delegates and their Asian counterparts
with their plans for waterfront regeneration.

Why did ICOMIA choose to hold the


event in Asia?

ICOMIA has been looking for the opportunity to


organise the conference in Asia from the very
beginning of its action in the marina business, but
it was difficult to find the right local partner until we
reached the agreement with the newly born Singapore
Boating Industry Association.

Which regions do you think are


going to see the fastest rates marine
infrastructure growth over the next
few years?

The Singapore conference made clear that SouthEast Asia will be a fast growing cruising field in the
next years. Its network of islands covers a surface
that is double the Caribbean and the Mediterranean
put together. It also has a natural biodiversity in terms
of reefs and beaches. This growth will be boosted by
the quickly emerging Chinese and Korean yachting
markets; the populations of these countries are not
really accustomed to boating yet, but there are signs
of the enormous potential of this market.
Expectations are high also on the Russian market
and its impact on the Black Sea and Mediterranean;
also Brazil, where the government is encouraging
waterfront rejuvenations initiatives in order to be ready
for the big international events that Brazil is going to
host in the future.

Are there any marina management


issues that you felt were neglected by
the conference?

All marina management issues were covered by the


conference to the full satisfaction of the delegates;
from new planning trends to dry storage structures,
environmental best practice and certification to
insurance contracts, and marina real estate valuation
to modern marina facilities. Many participants
have been asking to have another ICOMIA Marina
Conference within two years instead of three, in order
to keep closer ties among the worldwide marina
operators community.

31

Conclusion

Conclusion
Parking Lot or Lifestyle Experience?

he fleet is expanding and even with the limited


orders over the past 30 months, we can safely
predict that the fleet will grow consistently for
decades to come. Therefore, as you can identify from the
data and analysis we have delivered in this Superyacht
Intelligence Quarterly, the demand for berths will continue
in parallel. However, owners and their crew are not just
looking for a place to park their floating asset for 12
months of the year, they need something more they need
to feel special, they need privacy, exclusivity, security and
potentially a reason to spend money on services and the
experience that the marina offers.
To pay for berthing alone would seem to be a simple way
to make money for marina management and as a landlord
of floating rental space, it may work as a business model
for many, but I am convinced that for the future, a marina
has to offer a little bit extra. Having been ferried from the
jet terminal by limousine to the yacht, the marina needs to
provide some form of special environment and experience
on arrival. The idea of a superyacht just being parked
alongside every other form of floating transport is probably
the wrong approach, and while we have thousands of
small yachts that need accommodating throughout the
world, the economic impact of a large yacht probably
exceeds the impact of 50 small yachts and I think that
marina owners are now waking up to the fact.
It would be easy to predict that a marina packed with
ageing 30-40-foot sailing and motoryachts, with remaining
space for half a dozen large yachts, with possibly
inadequate power and services, is probably going to have

to rethink its model. As a parking lot, the marina jammed


full of annual berth holders and their average fees is a
stable business with an easy process to control, but with
the increase in the fleet of 30-metre yachts over the past
two decades it would be easy to suggest that all marina
owners and operators may need to think big. I anticipate a
similar growth figure over the net two decades, perhaps as
many as 3,000 new yachts between now and 2030, with
an average delivery of 150 yachts per annum. Therefore
it makes sense, if the local authorities allow, for many of
the current marinas to consider exploring a conversion
plan from a general parking-lot style marina into a more
luxurious boutique marina, exclusively for larger yachts.
Having recently visited the Marina Port Vell in Barcelona
and met the new investors and owners of this perfect citybased marina, I saw the potential to change the business
model from mass-market marina to a dedicated luxury
location for larger yachts and their entourages. As the
market grows and clients need their space, one expects
the worlds marinas to rethink what they should be offering.
To invest US$50 million into a floating asset and then to tie
it up amongst a fleet of crumbling 1970s 4050-footers is
probably not what the clients are buying into. The lifestyle
experience has to start at the dock and I am sure that
marina operators and managers are trying to work out how
to cope with the demand for 30-metre plus space and the
annual multi-faceted fees they can attract. If theyre not,
then hopefully this report will give them some insight and a
reason to start.
MHR

Camper & Nicholsons Grand Harbour Marina, Malta

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