Airports of Thailand, a state-owned enterprise which operates six major airports in Thailand, has two open tenders for two contracts; one for the operation of stores at Bangkok Suvarnabhumi Airport, Thailand’s flagship gateway and another for store operation across Phuket, Chiang Mai and Hai Yai airports.
Lotte, a South-Korean retail company, is forming a consortium with Bangkok Airways to bid on both contracts after King Power International, Central Group’s venture with DFS Ventures Singapore, Minor International, and a third group comprised of Royal Orchid Hotel Thailand, Empire Asia Group and WDFG UK have already expressed an interest in the Suvarnabhumi duty free concession, which presents an extremely lucrative opportunity in the travel retail landscape.
The current duty-free license for Suvarnabhumi, held by King Power Group will expire in 2020. The concession will begin on Sept 2020 and expire on 31 March, 2031.
(Sources: DFNI online; Business Times, Singapore)