FRANCE/SPAIN. At a pre-bid presentation in Cannes yesterday during the TFWA World Exhibition, Spanish airport authority AENA released first details of its forthcoming blockbuster duty free retail tender covering 26 airports and 55,000sq m of commercial space.
Long-term contracts across an anticipated six lots are projected to be worth some €18 billion in sales. The new concessions begin in November 2023. Dufry is the incumbent retailer across all locations.
Final details will be confirmed soon for the various concessions {we will bring you a more extensive report soon}. Yesterday’s meeting attracted a who’s who of the duty free and travel retail community with leading European and Asian retailers present alongside a large brand contingent.
AENA Director General of Commercial and Real Estate Maria José Cuenda (above fourth from right) told the meeting, “This is an exciting project to AENA because it is the biggest duty free tender in the world. In terms of scale, it is more than €18 billion. This is a unique opportunity that comes along only once every ten years or more.”
Cuenda was speaking on a panel that included three senior representatives from Alvarez & Marsal Spain, which has been appointed AENA’s advisory partner for the tender: Hervé Gilge, Manuel Pingarrón Díaz and Jordi Flores. The session was chaired by The Moodie Davitt Report Founder & Chairman Martin Moodie. The Moodie Davitt Report is providing extensive coverage of the tender starting from yesterday’s workshop through to the announcement of the bid winners.
“In this tender, the technical and financial criteria will be completely balanced,” said Cuenda. “We are seeking the best operators in the travel retail industry to obtain value for both parties: the airport and the operator.
“It is relevant to mention that in the approach of the new duty free contract the adaptation to market needs, innovation and digital proposals are going to be critical in the technical assessment.”
Painting a positive post-pandemic picture of retail prospects, Cuenda said, “Now AENA will have recovered to 90% of the year 2019. This summer our passengers came back to travel with a very positive buying behaviour, with the average ticket value in the case of British passengers increasing above +30%.”
Cuenda emphasised that AENA will be investing heavily In the near future in improved infrastructure – notably at Palma de Mallorca, Adolfo Suárez Madrid–Barajas and Ibiza airports – to help retailers grow commercial income. “For example, in Palma de Mallorca, the duty free area will be twice the size in a very attractive location,” she said.
We will bring you a full report on the presentation, including the contributions from the Alvarez & Marsal team, next week post the TFWA World Exhibition.
Note: The Moodie Davitt Report is the industry’s most popular channel for launching commercial proposals and for publishing the results. If you wish to promote an Expression of Interest, Request for Proposals or full tender process for any sector of airport or other travel-related infrastructure revenues, simply e-mail Martin Moodie at Martin@MoodieDavittReport.com.
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