X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.