ICOMIA Releases Policy Paper on Marina ConcessionsPublished on April 15, 2019
The ICOMIA Marinas Group’s policy paper on marina concessions/lease renewals is now available from the ICOMIA Library. This policy paper reviews details of current marina concession/lease contracts and recommends ways to increase the certainty of investments in marinas, while allowing the delivery of ongoing infrastructure improvements.
This policy paper should be read in conjunction with the IMG Recommendation on Marina Lease Tenders (June 2018).
The paper concludes that criteria should be set in standard concessions/leases for a performance assessment of the lessee and for renewal terms in the form of benchmarks for capital investments. This will help to ensure delivery of ongoing improvements in infrastructure and operations and that the facility meets the public need.
The paper further explores marinas as long-term investments that are capital intensive and have an extended payback period and therefore require longer term leases. A lease with a minimum term of 40 years with potential for extension would allow operators to continually invest in the facility resulting in maintaining a modern, updgraded, attractive and safe operation.