BAA plc, has been awarded a 10 year retail management contract at Baltimore/Washington International airport. The airport is one of the …
BAA plc, has been awarded a 10 year retail management contract at Baltimore/Washington International airport. The airport is one of the fastest growing airports in the US – around 20 million passengers used the airport in 2003 up from 19 million passengers in 2002.
Mike Clasper, BAA Chief Executive comments; Winning airport retail contracts is a key part of our international strategy. We have already demonstrated we can improve the passenger experience and increase revenues and profits for the airport and for BAA, by applying our knowledge and experience with modest capital investment. We developed the widely acclaimed retail facilities at Pittsburgh International Airport, we manage retail at Boston Logan and we operate and manage Indianapolis airport. We will continue to seek similar opportunities in the US and elsewhere.
The 10 year contract will commence at the completion of the airport`s new A/B terminal complex, scheduled in 2005. The contract gives BAA the responsibility for the design, construction, sub-leasing, tenant co-ordination, management and marketing of over 140,000 square feet of food, retailing and catering services, in the new concourse. An interim contract starts in May 2004, with the management of existing space and evolution of the detailed planning of the new project.
The retail development is part of the US$1.8 billion capital expansion programme at the airport. BAA and its subtenants will invest around US$40 to US$45 million in the project, with BAA`s commitment in the order of some US$10m in the shell and core of the facilities and US$2m for further refurbishments.
BAA`s Group Retail Director, Brian Collie says; We are delighted to have been awarded this prestigious contract by the Maryland Aviation Administration. BAA is the world`s leading airport retail operator and wherever we win a retail contract, we improve revenues and give passengers a better airport experience. This is exactly what we intend to achieve in partnership with Baltimore/Washington International Airport.
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