SPAIN. Travel restaurateur Areas has been awarded a ten-year contract by trade fair organiser and facility owner IFEMA Madrid to manage the entirety of its food & beverage options following an open tender.
The agreement – which includes the operation of 32 food outlets, central kitchen facilities and an employee restaurant – is estimated to be worth €121 million in revenue.
Areas will begin the operations in September and said it expects to invest around €9 million in delivering a new strategic food & beverage model for IFEMA Madrid.
The strategy aims to position IFEMA Madrid as a culinary hub in the Spanish capital city, and will see a combination of renowned international brands and local concepts designed exclusively by Areas for this space.
Areas’ offer for IFEMA Madrid will include concepts from Madrid such as bars, ham restaurants and tapas bars (Rodilla, Bareto and MásQMenos). There will also be restaurants in the portfolio such as Gastrohub created by the chef Nino Redruello; brands from Spain (Santagloria Coffee&Bakery and Pepito Grillo) and abroad (Tim Hortons and Tacos Don Manolito); healthy concepts (Aloha Poke); Asian options (Udon); and a selection of brands such as Farine and Mahou, among others.
Areas will begin its overhaul of IFEMA Madrid’s existing culinary options this summer so that the first 12 outlets will open in September, coinciding with the start of the trade fair calendar.
The project will also feature a complete remodelling and the creation of new outlets and large terraces spread throughout the event facilities, which are expected to be ready in 2024.
Areas said it will incorporate digital and sustainable technology and solutions to improve customer experience at the IFEMA Madrid events. For example, smart kiosks will be located strategically, and sustainable development models will be integrated into each of its proposals, minimising the use of plastic and reducing food waste.
The new contract with IFEMA Madrid comes after Areas recently won a tender to provide 70% of the food & beverage offering in Adolfo Suárez Madrid-Barajas airport, which is expected to realise the company more than €1 billion in revenue over the eight-year contract duration.
Areas Iberia CEO Sergio Rodríguez said: “Winning this tender strengthens our leadership position in Spain and the recognition of Areas as a benchmark company in the transformation of the food and beverage sector through innovative, diversified and sustainable proposals.”
He added: “Our purpose is to show the hundreds of thousands of visitors who pass through IFEMA Madrid each year the best food that the city has to offer and in turn to provide a wide array of options for all audiences and trends.”
The Areas Madrid portfolio also includes outlets in main train stations such as Atocha and Chamartin, the Villalba travel plaza on the AP-6 highway and in the La Paz Hospital. 
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