Frankfurt launches Airport Retail Solutions venture

Print Article E-Mail Article

Fraport, the Frankfurt airport services holding company, and ECE, Europe's leading shopping centre specialist, have formed a new joint-venture company aimed at further developing retail opportunties.

The new Airport Retail Solutions joint venture will aim to boost the retail and food & beverage facilities at Frankfurt airport and will also offer its services to other airports.

Founded at the beginning of August, Airport Retail Solutions is headed by managing directors Frank Rappl of Fraport and Ralph Middecke of ECE. The venture has already developed a master plan for Frankfurt airport, which includes two projects scheduled for completion by the end of 2003. As an initial step, two new retail areas costing a total of about DM50m ($22m) will be constructed at terminals 1 and 2. This additional space will expand the airport's  "Frankfurt Duty Free" and Travel Value shops.

Chairman of the supervisory board of Airport Retail Solutions and general manager of Fraport, Bernd Struck, commented: "This joint venture between two market leaders will sustain and support our goal of further developing non-aviation revenues."

• ECE is a specialist in planning or constructing shopping centres with 61 currently under management and plans for 13 more. Its experience includes modernisation of high-density centres located at central railway stations such as Cologne, Hanover and Leipzig. Its centres feature around 5,100 stores, generating a turnover of DM14,000m ($6,090m).