September 28, 2020

Cayman Islands Airports Authority seeks commercial revenue consultant

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Screen Shot 2014-10-08 at 12.27.07 PMFrom The Moodie Report News Room

CAYMAN ISLANDS. Commercial space at Owen Roberts International Airport (ORIA) is to be upgraded as part of a major airport improvement programme about to start at the main international gateway to the Cayman Islands. The airport is seeking a commercial consultant and well-sourced local reports suggest a duty free tender will follow.

Cayman Islands Airport Authority () issued a Request for Tenders this month inviting consultants to bid for the development of a commercial revenue enhancement strategy at the airport.

The tender follows earlier bids for architectural and engineering firms to work on the new development. The project includes renovations to passenger processing areas, expansion of the Departures hall and the provision of attractive commercial spaces.

The winning commercial consultant will develop a strategy that includes financial analysis of current and future revenue streams, business planning and procurement practices, as well as an evaluation of existing concessions operations and opportunities.

Full details of the Request for Tenders can be viewed here. The deadline for submissions is 4pm on Friday 17 October.

With passenger numbers rising, Owen Roberts International Airport needs an optimised local and international retail offer, Cayman Islands Airports Authority believes.

cayman_islands_airportThe airport’s duty free retail operation will be put out to tender once renovations to the Departures area completed, according to a report in CNSBusiness (when citing local media, The Moodie Report always seeks verification of a story. We’ll bring you an update soon).

Chief Executive Officer Albert Anderson told the news organisation that the airport’s redevelopment must achieve two important objectives.

“On the one hand the CIAA is endeavouring to deliver a modern airport facility that provides a safe and pleasant passenger experience and offers the space and amenities expected of a first-world destination,” he said.

“At the same time, from an operational perspective, the Authority is also responsible for implementing strategies which are designed to improve profitability and maximise revenue generation for all stakeholders.

“Consequently, along with the structural enhancements, the CIAA is amending its business model to align with industry standards and is introducing measures that are designed to improve sustainability over the longer term.”

The airport has already briefed concessionaires on the impending changes and new opportunities said Acting Chief Customer and Commercial Services Officer Bianca Moore-Downey said.

“The CIAA has enjoyed a long and harmonious relationship with these companies and we are immensely grateful for the quality service and convenient shopping experiences they have provided for passengers over the years,” Moore-Downey said.

“As we move forward with plans for the expanded departures area, the overarching goal is to ensure that partnerships with concessionaires align with the authority’s new business model so that the commercial transformation is mutually beneficial and provides the best possible experience for travellers.”

Anderson added: “By following this process, which is in keeping with international best practice, the objective is to ensure that all interested retailers, including the existing concession holders, will have an equal opportunity to submit a response to the in a fair and transparent manner.

“When the time comes the CIAA will actively be seeking a variety of high-quality retail concepts that will not only exceed the escalating expectations of travellers, but will provide an optimum mix of international and local products which reflect the charm and individuality of the Cayman Islands.”

Owen Roberts International Airport served one million arriving and departing passengers in 2013. Growth of +2-4% a year is forecast until 2022.

Source: The Moodie Report; CNS Business

For more on this story go to: http://www.moodiereport.com/document.php?c_id=6&doc_id=41169

 

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