Imbc 2012 changing trends

Changing to Compete in Today’s Market

Bruce Lunde Dan Williams Lunde Williams

Image Property of SmithGroup JJR, LLC

How the Industry is Adapting to Changing Realities

• Site Integration

• Design Theory and Regulatory Requirements

• New Approaches

• New Materials

Today’s Discussion

• Pre-Modern Marina (Pre–1970)

• Modern Marinas (1971-1989)

• Raising the Bar (1990-2009)

• Current Marina Profiles

• What Comes Next?

1970 – 1989: First Generation Modern Marinas

• Fiberglass Boats

• Greater Middle Class Disposable Income

• Cultural Transformation

Diversity: Sailboats, Fishing Boats,

Houseboats, and Cruisers

Significantly Expanded the

Demand for Convenient

Docking Facilities

• Condition and Age • Fit for Modern Boat Demographics • Materials and Accessibility

Raising the Bar 1990-2009

• Marinas Becoming Hospitality Venues

• Cleaner Facilities, Uniformed and Trained Staff

• The Rise of Floating Docks

1990 - 2009: Second Generation Modern Marinas

• Adjusting for Changing Boat Demographics

• Replacing Outdated Facilities

• Development and management of multiple revenue streams

• First Generation Docks Aged, Wore Out and No Longer Fit the Needs of the Modern Boating Demographic

• The Rise of the Professionalization of the Marina Industry

• The Second Generation of Marinas are Larger, Luxurious, and Profitable

Not all Marinas have been Improved • We see a definite stratifying of the marinas in the US.

Those that could afford it moved forward, modernizing their facilities and becoming more competitive. Some of the older and less competitive ones fell further behind and do not have much hope.

Tight budgets limit current capital investments

• Financing still a major issue

• Fear of uncertain return on investment continues

• Maintenance and upgrades are currently being delayed

• Marina Consolidation Mean Unequal Opportunities

• Selling Value and Selling Sizzle

• Client Expectations Have Never Been Higher, no Excuses for Mediocrity

Current Marina Profiles

What Comes Next?

Upgrading Facilities

Dillon 1972

Dillon 2010

Dillon 2011

Owner/ Developer

• Maximizing Possible Revenue Streams

• Increased Catering to Customers

• Green Building and Sustainable Image

Perception of Trends

Manufacturer

• More Sophisticated Clients/ Higher Expectations

• Good Engineering and More Accountability

• Green Design

Perception of Trends

When is it time to update?

• Significant Structural Failures

• Shrinking Client Base

• Aging Equipment and Docks

• Misfit on Slip Sizes

Renewal, Renovation or Replacement

Breakwater Issues

• Prioritize Goals and Assessing the Market

• Determine Slip Mix

• Develop Budget/ Phasing Strategies

• Confront Accessibility Issues

• Permits

Renovation Approach

• Meeting the Current Client Demographics

• Efficient Space Utilization

• Power and Water to Meet Boat Requirements

Slip Mix

• Understanding Limits of Available Financing Key in Planning Process

• Budgets can Limit Options

• Develop Understanding of ROI

• Look at Alternative Finance Methods

Budget and Financing

• Many Operators Fear Regulation Unnecessarily

• Integrated into the Design; Costs can be Negligible

• Include Advocacy Groups when Needed

Accessibility

Utilities

Security

Fuel and Services

Today’s Marina

Integrated Stormwater Management

Basin Protection

Opportunities

Today’s Marina

Today’s Marina…We’ve Come Along Way

• Continued Quest for Value in Construction • Right Sizing of Slips to Boater Demographics • Funding Challenges Remain; Successful

Improvements Require Successful Financial Planning

• Owner Managed Incremental Improvements Provide Short-Term Solutions

• Planning Ongoing, Construction Slow

Summary

Questions?

Thank You!

Bruce Lunde Bruce@LundeWilliams.com 414.704.0344

Dan Williams Dan@LundeWilliams.com 608.335.4110

Lunde Williams

Imbc 2012 changing trends

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