Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.Duty free bids set to close on San Francisco luxury tender
By Luke Barras-hill |
SFO anticipates the concession will be awarded in November. Source: SFO.
The submission proposal deadline for the San Francisco Airport (SFO) duty free and luxury stores tender is set today at 14:00pm (Pacific Standard Time).
As reported by TRBusiness, the airport authority issued a revised request for proposals (RFP) timetable for its International Terminal Duty Free and Luxury Stores concession in June, which cover the management and operation of 10 duty free and luxury stores located post-security in the International Terminal, in addition to one location in Terminal 1.
Proposers must have five years’ experience in the last eight owning a duty free business with luxury brands and achieved minimum annual gross sales of $60m at a single airport.
The proposed minimum annual guarantee stands at $42m with the minimum accepted percentage rent at 30% of gross revenues. The proposed lease is for 14 years, plus a term of up to 365 days for the construction of tenant improvements.
Leases are expected to be awarded in November.
For further details on the SFO tender, see TRBusiness’ earlier reports:
Suntory Global Spirits introduces Suntory Time activation in Delhi
Image Credit: Suntory Global Spirits Suntory Global Spirits (SGS) has introduced its Suntory...
Guerlain rolls out trio of new beauty novelties including relaunched Kiss Kiss
Image Credit: Guerlain French beauty house Guerlain has launched three new beauty heroes,...
Mondelēz WTR debuts Toblerone Strawberry Matcha at Singapore Changi
Image Credit: Mondelēz WTR Mondelēz World Travel Retail (WTR) has partnered with Changi...
In the Magazine
TRBusiness Magazine is free to access. Read the latest issue now.
