Marina Market Analysis 29 ; The table that follows details whether or not marinas will post a gross profit for 2014, based on marina size. f Marina Gross Profit - Will Report a Gross Profit | No Do Not Know Yes Marina Size % of Respondents ; Small (1 - 99 Slips) 19.0% 17.0% 64.0% / Medium (100 - 249 slips) 16.0% 14.0% 70.0% Large (250 - 749 slips) 9.2% 14.5% 76.3% ; Very Large (Over 750 slips) 11.0% 11.0% 78.0% / Overall 14.5% 14.5% 71.0% i The majority of small marinas (64%) reported that they would report a gross profit in 2014. The i majority of medium marinas (70%) reported that they would report a gross profit in 2014. ‘ The table that follows details changes in gross profit in 2014 over 2013. Marina Gross Profit - 2014 Over 2013 | Decreased Stayed Same Increased | Ownership Type/ Size/ Age % of Respondents Government Owner 9.0% 34.0% 57.0% : Corporate Owner 17.8% 28.6% 53.6% : Private Owner 22.4% 24.5% 53.1% : Overall 19.2% 28.8% 52.0% New (Less than 7 Years) 53.8% 50.0% 68.0% . Medium (8 - 35 Years) 21.5% 20.0% 0.0% ; Old (36+ Years) 24.7% 30.0% 32.0% The majority (53.1%) of private owner reported that gross profit increased in 2014. The majority (32%) ' of marinas over 36 years old reported that gross profit increased in 2014. Conclusion : The majority of respondents indicated stable to increasing occupancy rates in 2014 over 2013. Most : respondents had an occupancy rate above 85%. Most respondents also indicated increased revenues. These are all positive indications for the marina industry. | An article in Marina Dock Trends states that the market is improving for marina properties. The article : reports that pre-recession, marina capitalization rates were around 5% to 6%. Post-recession through ' May 2014, capitalization rates were around 10%. Since May 2014, capitalization rates for marinas began decreasing. Though the boating industry experienced a decline in revenue and participation during the recession, | demand for slips far exceeds the current su