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Established in 1968 in Barcelona, Áreas is a concession services provider present in major airports in Southern Europe and the US. The company employs 12,000 people worldwide and boasts annual sales of more than $800 million.
After Elior purchased a 70% stake in the company in 2005, Áreas began proactive expansion across the US, where it has a workforce of 2,100. Growth really took off in 2006 with a 10-restaurant contract for the Miami International Airport.
“It was our first milestone,” explains Areas USA CEO, Xavier Rabell. “We set up an office in Miami as a result of the contract, and that is now our centre of operations in the US. We have been growing ever since.”
Areas went on to land contracts for Terminal 3 at the Orlando International Airport as well as in the Detroit International Airport. Later deals were made for airports in Indianapolis, Boston, Atlanta, Washington, San José, Newark and Los Angeles.
The US airport concession service sector has certain specificities, and Áreas has had to adapt its strategy to meet the needs of this huge market. “Recognition of big brands is very strong in the US, but there is a growing trend towards promoting local brands,” Rabell explains. “As a result, we have adopted a strategy of making deals with international brands such as Wendy’s and Dunkin’ Donuts, but also small, local brands that add regional flavour. The US is vast and varied, so each airport and turnpike needs a tailored approach to achieve a mix that will work.”
Today, Áreas is present in 11 airports in the US and, in June 2009, it took over operations at seven service plazas on the Florida Turnpike, a 644-km stretch of highway running from Miami to Orlando. As part of the 40-year contract, it is also constructing new service plazas on the turnpike. Areas expects the contract to be creating $70 million in annual sales by 2013.
“Our goal for the US is to be generating $200 million in annual sales by 2014, and to operate in all the largest American airports. We’re already a major player, but now we need to build on that, grow in volume and become more profitable,” Rabell concludes. |