A briefing session inviting parties interested in bidding for new duty free and speciality retail concessions at Bermuda L.F. Wade International Airport was held yesterday (19 September).

The session concluded with a networking session, but further details on this and the briefing were unavailable when TRBusiness enquired.

The airport issued a request for proposals (RFP) last month following earlier expressions of interest seeking partners to design, develop and operate a series of ‘world class concessions’ at Bermuda’s international gateway.

These included a mix of convenience, speciality retail and duty free concepts targeted at international travellers and visitors.

Up to eleven retail locations are available under the leasing terms spanning airside and landside areas [for details on units and sizes see previous story].

‘ALL LOCATIONS’ IN AIRSIDE BIDS 

Proposals for the airside duty free/speciality units, which span three segregated areas, should include all post-security areas with supporting detail on individual designs, investment, product availability and revenue forecast.

All three landside convenience/speciality retail locations (four units in total) are available individually, but proponents can submit proposals for all three.

The submission deadline for proposals is 14:00pm (local time) on Tuesday 27 November, with the contract anticipated to be awarded in January.  

Preliminary concepts have now been established, with the duty free mix containing perfumes & cosmetics, liquor & tobacco, confectionery, gourmet foods & condiments, fashion & accessories, toys, local products and souvenirs.

POSSIBLE RENT NEGOTIATION

Leases will be subject to a minimum annual guarantee (MAG) or a percentage of gross annual revenue per year, whichever is greater.

The airport says the MAG or percentage rent ‘may be subject to negotiation’ with the winning bidder after the award is made.

Proposals will be evaluated on the following criteria: organisational data/business information (15%); concepts, design and facility plan (25%); operating strategy, marketing, pricing and customer service (30%); and financial capability, commitments and rent consideration (30%).

They will also be expected to contribute 1% of gross sales towards a concessions marketing/promotions fund held and managed by Skyport to help promote retail businesses at the airport.

Bermuda Airport handled 856,786 passengers in 2017, 182,851 of which were international. It expects to increase its total passenger volunes to 900,000 this year.

For further information on the RFP, contact:

Carrie Thatcher,

Commercial Manager,

LF Wade International Airport,

3 Cahow Way,

St. Georges, DD 03

Bermuda