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ORLANDO-How valuable is the 28,000 sf of retail at Orlando International Airport?

Valuable enough for Bethesda, MD-based HMS Host Corp. to guarantee the Greater Orlando Aviation Authority a minimum $5.25 million in revenue, plus a percentage of gross sales, if it wins the 10-year contract.

Host will also kick in $11.11 million for the ongoing renovations of airport’s food court and concessions area.

Westfield Concession Management Inc. of Los Angeles feels the airport’s retail is so valuable it is offering to pay rent of $37 per sf plus a percentage of gross rents. Westfield would also contribute $2.3 million for the renovations cost.

Host, which calls itself the world’s largest provider of food, beverage and retail concessions to the travel industry, plans to add Burger King, Chick-fil-A, Outback Steakhouse, Krispy Kreme Doughnuts and Wolfgang Puck Express to the airport’s tenant roster.

HMS Host, owned by Autogrill S.p.A. of Italy, was formerly called Host Marriott Services. Host averages annual sales of $1.6 billion. Autogrill, with operations in 19 countries, has annual revenue of $2.6 billion, according to its Web site.

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