LAX awards contract to Westfield Concession
June 11, 2012, 04:07 pm
A contract has been drawn up and signed between Westfield Concession Management and Los Angeles International Airport. The airport gave Westfield a 17-year contract that requires them to invest $78.6 million for improvements to the current LAX concessionary and another $15.7 million to refurbish halfway through the contract.
LAX officials estimate the airport will earn $180 million in the first 10 years from the contract.
“Los Angeles World Airports is undertaking a $4.11-billion modernization program at LAX to improve customer service, safety and security at one of the most significant international gateways in the world,” said Gina Marie Lindsey, the airport department’s executive director. “Our selection of Westfield Concession Management will allow us to meet the demands of today’s travelers for quality dining, shopping and other services in a timely, cost-effective manner.”
Westfield was one of three bidders for the project. Earlier in 2012, it was selected to develop concessions for LAX’s Terminal 2, the Tom Bradley International Terminal, currently under $1.75 billion in renovations and the landmark Theme Building.
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