Part Two: 2020 Industry Survey ResultsPublished on January 11, 2021
Editor’s Note: The Marina Dock Age Annual Marina/Boatyard Survey was conducted in late 2020. Respondents from across the country answered questions about their facility, operations, revenues, profits and more. For results on regional occupancy rates, slip rates and maintenance/repair rates, see the November/December 2020 issue, page 6.
Fig. 1A shows gross profit this year compared to last by age. The marinas 10 years of age or younger showed the greatest gain in gross profit at 80%. Only the very old marinas, those over 75 years of age, showed a decrease in gross profit of more than 25% although still low at 31.6%. Very few respondents had a profit rate that stayed the same.
Fig. 1B compares gross profit by region. A full 93% of respondents from the Midwest saw their gross profit increase although the response rate for that area was comparatively low. Overall, 60% of respondents across the country saw an increase in profit. The northeast, at 30.6% saw the highest number of marinas reporting a decrease in gross profit.
Fig. 1C shows gross profit compared across marina sizes. Small marinas with less than 100 slips were the only size to show less than a 60% increase in profit at 50%. Large marinas (250-750 slips) had the largest percentage increase at 66%. A very small percentage of all sizes had a gross profit that remained the same.
Fig. 2A shows total expenses for facilities across various ages. Expenses increased across the board from 66% of old (26 to 75 years) marinas to 80% of young (10 years and under) marinas. Very few respondents reported a decrease in expenses ranging from 11% very old (over 75 years) facilities to 0% for the young.
Fig. 2B reflects expenses by region. All regions showed an increase in expenses between 64 and 69.4%. In the Midwest, 29% reported expenses stayed the same, while in the northeast just 19.4% had stagnant expenses.
Fig. 3B looks at expenses by facility size. Expenses rose the most for large (250-750 slips) marinas at 79% and the least for medium (100-249) marinas at 62%. Overall, 69% of marinas had increased expenses and 9% saw a decrease.