Off The Hook Yachts Adds Sportsman, Phenom Brands and 224-450 Rack Marina Storage
Off The Hook Yachts is expanding new boat sales by acquiring Bellhart Marine in Wilmington to retail Sportsman Boats and Phenom Yachts, leveraging its marine platform. It will integrate Sloop Point Marina’s 224 dry-stack racks—expandable to 450—and offer a one-year free storage incentive through July 31 to boost sales.
1. Acquisition of Bellhart Marine
Off The Hook Yachts will acquire Bellhart Marine in Wilmington, North Carolina to serve as its retail dealership hub for new Sportsman Boats and Phenom Yachts, leveraging its AI-powered marketplace to expand into new boat sales alongside its existing used boat operations.
2. Integration of Sloop Point Storage
Sloop Point Marina’s dry-stack storage facility currently operates 224 racks, with approvals to expand to 450, providing integrated storage access tied directly to new boat purchases and creating recurring revenue through service and storage fees.
3. Incentives and Sales Projections
Customers purchasing Sportsman Boats at Bellhart Marine by July 31 receive one year of complimentary storage at Sloop Point Marina, and the company expects to achieve up to 100 annual new boat sales at scale.
4. Ecosystem Revenue Opportunities
The expansion into new boat sales is designed to feed Off The Hook’s ecosystem by generating trade-ins for its used inventory, in-house financing, extended warranties, insurance offerings, and service revenue, strengthening its high-margin revenue flywheel.