Business Articles
Safe Harbor Marinas, a pivotal player in the yachting industry, has been caught by the net of Blackstone Infrastructure funds in a lucrative $5.65 billion agreement. This substantial investment could cause significant ripples throughout the yachting sector, impacting competitors and market trends.
Heidi Boyd, a senior MD at Blackstone, highlighted how marinas are bolstered by increasing trends towards travel and leisure, as well as population inflows into coastal cities. She affirmed that Safe Harbor, renowned as the largest marina and superyacht servicing business in the US, is the best-positioned company in this sector. Boyd further expressed excitement about working with Safe Harbor’s remarkable team to invest in their existing marinas and expanding their reach.
Landing a refit contract is quite like treading a tightrope, balancing owners’ expectations with shipyards’ practical necessities. Clients often balk at the ‘mark-up’, a percentage added to a quote covering overheads for the shipyard. Shipyards assert it as a necessary component to cover overhead costs. The term ‘overhead costs’ could send one spiralling down a rabbit hole. Insurance, maintenance, sales, marketing, finance and administration costs are common touchpoints. But the defining pillars are health, safety, sustainability, and investments.