Commercial Planning International has teamed with Isavia to oversee the successful selection of all airside retail and F&B operators at Keflavik International Airport.

 

This has involved CPI working closely alongside the Icelandic airport’ operator’s commercial team over the last 12 months, while producing a detailed analysis of the airside departure lounge commercial performance and the amount and type of retail required. CPI also calculated actual forecast revenues to forma basis for Isavia’s budgeting and planning.

 

This involved helping to evolve Isavia’s overall aspirations and resultant strategy and the passenger experience at Keflavik, while  Portland worked with Isavia and CPI to develop the airport’s retail commercial design.

 

Once the commercial plan and retail design were approved, Isavia appointed CPI to consult on the concession process for the new spaces and Isavia’s executive team invited CPI to join the selection committee. Interestingly, CPI reports that the selection committee subsequently confirmed that the revenues forecast by CPI were ‘very consistent with the offers received’.

 

Commenting, Frank Gray, Managing Director, CPI said: “This was a very organized and professional process with an emphasis on strong corporate governance. By inviting CPI to consult on the process and by creating a small but expert team of decision-makers to assess the bids and make the final awards, Isavia could be sure of a fair and transparent process.”

 

 

STRONG ‘SENSE OF PLACE’

According to CPI, ‘several important factors’ were communicated to all parties interested in the space, including strong emphasis on a ‘sense of place’ through services, brands, products and concepts.

 

Hlynur Sigurðsson, Director Terminal Operations, Isavia said: “It was our aim to deliver the optimal commercial development at Keflavik which delivered the best possible commercial returns to Isavia and at the same time gave every passenger a unique, engaging and distinctively Icelandic experience. With CPI’s valuable expertise and advice, we are confident that the new development will deliver these objectives.”

 

A ‘strong mixture’ of Icelandic and international companies were successful in their bids for the units. Overall, six retail outlets and one food and beverage (F&B) outlet were selected to continue operations and two new retailers and four F&B outlets were added.

 

CPI says this should significantly increase the choice of brands and products on offer in the terminal and enhance the overall ‘Icelandic’ experience of passengers. It adds that the refurbishment of the airside departures lounge, which is expected to transform the space, is now underway, with completion due by Spring.

 

Keflavik Airport (KEF) is the main gateway into Iceland and processed 2.8m passengers in 2013, up +16% on 2012.

 

[LS Travel Retail was awarded the food and beverages concession at Iceland Keflavik International Airport (KEF) by operator Isavia. See the following link for more details: http://www.trbusiness.com/index.php/regional/europe/16069-ls-travel-retail-jv-to-run-fab-business-in-iceland.html-Ed]

[TOP IMAGE: Keflavik Airport. Below: an artist’s impression of the new airside development. Photo credit: courtesy of Isavia].