Marine Development Profitable

The first phase of the bidding process for the privatization of the Alimos, Floisvos and Zea marinas conducted by the Hellenic Tourism Properties is completed. And some very powerful business groups are among those that will continue to participate in the final stage.

According to the tourism department of consulting company JBR Hellas, a member of the Horwarth family, this interest is totally justifiable because globally marinas are considered as a base around which a series of activities are developed. The diagram below is taken from a study on the effectiveness of American marinas and depicts revenue distribution.

Clear port revenue (moorings, winter and seasonal security) represents only 30% of total revenue, while around it a series of service and commercial activities are worth more than double that port revenue. Given the fact that the three marinas mentioned for privatization have revenue of 800 million to 1.5 billion drachmas almost exclusively from anchorage and security charges. Thus the potential of their development following privatization is self-evident.

The aforementioned and the intense development of yachting tourism explain the substantial interest seen recently in private marina development, such as the ones at Lavrio, and on Lefkada, and Corfu.

Olympic Marine completed its 15.9-million-euro (5.4 billion drachmas) marina investment project at Lavrio and has created one of the most modern infrastructures in Attica with 620 docking berths, some 1,000 management berths, and a 3,500 square meter shopping center.

Greece has 19 marinas with a total capacity of 6,500 vessels, compared with Turkey’s capability of docking 9,000, not to mention its higher-quality facilities.