SINGAPORE. Two bidders have lined up to compete for the latest brand name western-style café concessions at Singapore Changi Airport Terminal 2. Palms Food International and Spinelli each placed bids for two concessions on offer in the Departures zone.
The financial offers – notably for Concession A – were very low, reflecting the challenging climate for trading at Changi Airport. It has been hit by falling passenger numbers and in some cases falling spends, month-on-month since last September.
For Concession A, Palms Food offered 2% of the total monthly gross sales for sales up to S$50,000 plus 5% of the total monthly gross sales for sales above S$50,000, or a minimum monthly guarantee of just S$500, whichever is higher.
Spinelli offered 6% of the total monthly gross sales for sales up to S$40,000 plus 8% of the total monthly gross sales for sales above S$40,000, or a minimum monthly guarantee of S$1.
For Concession B, Palms Food offered 3% of the total monthly gross sales or a minimum monthly guarantee of S$1,250, whichever is higher.
Spinelli offered 20% of the total monthly gross sales for sales up to S$70,000 plus 22% of the total monthly gross sales for sales above S$70,000, or a minimum monthly guarantee of S$10,000.
Concession A begins on 1 June and Concession B begins on 15 November. Both run for three years.
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