NEWS ROUND-UP Fraport retail & real estate drops -10%
Frankfurt Airport operator Fraport AG has reported a -10% drop in Retail & Real Estate revenue to €241.3m ($276.7m) in H1 2018 compared to €268.2m ($307.5m) during the same period last year. Retail revenue alone dropped from
€98.7m in H1 2017 to €94.8m in H1 2018. For the Retail & Real Estate segment, the Executive Board expects decreased retail
revenue in 2018, which will have a ‘reducing effect’ on the segment revenue. Retail revenue was expected to be
positively impacted by pax growth as outlined in the company’s 2017 annual report. Total group revenue rose +13% to
€1.5bn in H1 2018 compared to €1.3bn in the first half of 2017, while revenue in Q2 surged +11.5% to €850.5m from €762.8m in Q2 2017. Group EBITDA in H1 2018 was €461.3m,
an increase of +9% over the previous year. Net retail revenue per passenger in H1
2018 decreased -12.3% to €3.06 compared to the previous year (€3.49 in the first six months of 2017). Fraport said: “Influences on retail
TRT UK to address ‘huge’ costs of staff turnover
Travel Retail Training (TRT) UK Managing Director, Christine Martin believes that now is just the right time to stage the ‘Our People Matter’ conference (this December), as many retailers are failing to recruit and retain talented ‘frontline heroes’. “It is at times like this that training
budgets get cut,” says Martin. “The solution is not rocket science; if
we don’t give our [frontline] heroes the relevant knowledge and skills they need, how can we expect them to deliver the results we need? “We certainly need to be better at
recruiting and retaining talent as the cost – hidden and otherwise – of staff turnover is huge and very wasteful, especially when resources are so tight. “I think there is an opportunity
for the industry to collaborate to make working in our industry a career of choice.” Read the full interview with Christine Martin for
more details on the ‘Our People Matter’ conference on p20.
included in particular the above-average growth in pax numbers on European routes, where passenger tend to spend less and capacity bottlenecks at the terminals, particularly at security check-points, which reduced time available for purchases.
“In addition, the devaluation of various
currencies compared to the euro led to a loss of purchasing power.” Passenger numbers at Frankfurt Airport
reached an all time high of 32.7m pax in the first half of 2018, growing +9.1%. According to Fraport, this was driven by
considerable increases in offers and the school holidays starting at the end of June.
Ever Rich boosts CSR pledge after tender triumph
Taiwanese travel retailer Ever Rich Duty Free Shop Corporation has vowed to continue ‘giving back to society’ after being named top bidder in the hotly contested duty free tenders at Taoyuan International Airport Terminal 2. As reported, the tender covered
34,000sq m in the North Wing Area D, where Tasa Meng Corporation is the operator, and 24,000sq m in the South Wing Area C, occupied by Ever Rich. TRBusiness can confirm that Ever Rich
topped the bidding charts for both 12-year concessions (which have three-year extension options) ahead of international players including Lotte Duty Free, Shilla Duty Free, Dufry Group and DFS Group. Tasa Meng was runner-up for both
concessions, which attracted interest from several local players. Under the terms of the tenders, the top
bidder (Ever Rich) can only operate one area. Once the decision is made following discussions with the airport authority, the remaining concession will go to the runner- up (Tasa Meng Corporation). An official document submitted to
interested parties seen by TRBusiness indicated successful bids would be judged on a pre-determined points system in management planning, construction, renovation and financials.
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