Indian Airport Operator GVK Has Awarded The Duty Free And Retail Contracts To Dufry And DFS, Two Of The Leading Airport Retailers. DFS <http://economictimes.indiatimes.com/topic/DFS> And Dufry Are Top Travel Retailers In The World And Have Been Competing With Each Other To Gain Number One Slot For Some Years Now. DFS Is Holding The Number One Position Followed By Dufry Currently. The Contract With Both These Companies Is For A Five-Year Period And The Airport Operator Targets A Seven-Fold Increase In Revenues Through Duty Free And Retail Sales. The Scope Includes Both The Existing Terminals And The New International Terminal That Is Currently Under Construction And Is Expected To Open In The Third Quarter Of 2013. The Contract With The Travel Retailer Companies Has A Guaranteed Component Of Over 80% Along With Minimum Annual Guaranteed Revenue (MAGR) That Is Benchmarked Against Asia's Leading Airports Like Singapore's Changi Airport. GVK's Contract With The Indonesian Government Is On A Base Fee And An Incentive Fee Based Remuneration Structure. All Capital Expenditure Is Funded By The Government.
Project Value
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Contract Awarded
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India
Hospitality,Hospitality
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