PITTSBURGH, Sept. 21 /PRNewswire/ -- AIRMALL® USA, developer of the leading airport concessions model in North America, is capping off a year of significant growth and development as it prepares to participate in the ACI-NA 19th Annual Conference & Exhibition, which is being held in Pittsburgh from September 24-30.
In July, AIRMALL USA marked the grand opening of the new AIRMALL at Cleveland Hopkins International Airport (CLE), a two-year, $23 million retail concessions development that has dramatically transformed the face of the airport, created a dynamic concessions program, and increased revenue to the City of Cleveland. Also in July, AIRMALL USA announced that it was under new ownership. Prospect Capital Corporation, an investment company based in New York City, purchased the company from its previous owners, BAA Ltd., in a transaction that was completed on July 30, 2010.
"At AIRMALL USA, we're pleased to be participating in this year's ACI-NA Conference in Pittsburgh, the home of our corporate headquarters and the place where the AIRMALL concept was born two decades ago. AIRMALL USA continues to post one of the highest per-passenger spends of any concessions program in North America with the industry-leading AIRMALL at Pittsburgh International Airport," said Mark Knight, president of AIRMALL USA. "The company's recent change in ownership and our completion of the Cleveland project have provided us with a renewed sense of purpose and direction."
Knight went on to highlight some of the key metrics connected to the opening of the new AIRMALL at CLE:
- The new concessions program spans 76,000 square feet of retail space, nearly doubling the size of the previous program.
- When all construction is completed later this year, travelers will be able to shop and dine at 55 distinct units that include international, national and regional brands. This compares to 40 stores and restaurants with the previous operator.
- Per-passenger spend at the airport is expected to rise from $5.59 in 2008 to $7.50 by year's end.
- AIRMALL USA has doubled the number of local operators or concepts and the number of concessions employees.
- The number of minority-owned companies participating in the program has tripled.
"Time and time again, the AIRMALL becomes an economic driver for its host city. The Cleveland project is just the latest example," Knight continued. "Our new owners recognize the value in our business model, and they are eager to see AIRMALL USA expand the concept into more airports across the continent. We're ready to meet that challenge."
AIRMALL USA manages and develops the retail, food and beverage concessions at Pittsburgh International Airport (PIT), Boston Logan International Airport (BOS) in Terminals B and E, Baltimore/Washington International Thurgood Marshall Airport (BWI) and Cleveland Hopkins International Airport (CLE).
The ACI-NA Annual Conference & Exhibition provides an opportunity for members of the aviation industry to examine successful strategies for moving toward the next generation of air transportation. This year's participants will hear from analysts and experts whose political and economic forecasts will provide a context for the industry's development.
At the conference, AIRMALL USA will be located at Booth #426 in the David L. Lawrence Convention Center, located in downtown Pittsburgh.
For more information about AIRMALL USA, visit www.airmall.com.
About AIRMALL® USA, Inc.
AIRMALL® USA, Inc. is the developer and manager of the retail, food and beverage operations at Pittsburgh International Airport, Boston Logan International Airport (Terminals B and E), Baltimore/Washington International Thurgood Marshall Airport, and Cleveland Hopkins International Airport. The leading airport concessions model in North America, the AIRMALL boasts one of the highest per-passenger spends among all of the airports on the continent and continues to earn industry accolades for innovation and customer service. AIRMALL USA is owned by Prospect Capital Corporation, a leading New York investment company founded in 1988. For more information on AIRMALL USA, visit www.airmall.com.
SOURCE AIRMALL USA