Areas wins seven contracts worth 2.5 billion in half a year

Record first half for Areas, the leading multinational in restaurant concessions at airports, highways, and train stations. The company, which has its global operational headquarters in Barcelona, has just won the tender to manage five restaurants in Terminal 1 of San Diego Airport (California), a contract that will generate a business volume of 500 million dollars over the next fifteen years.

This award confirms the strong expansion phase that Areas is experiencing after the hard blow of the pandemic and consolidates the United States as its fastest-growing market, since, so far this year, it has also been awarded the catering service for ten establishments at Houston Airport and three service areas on the West Virginia highway. In total, in the last six months, the group led by Óscar Vela has won seven contracts that will bring in a business volume of more than 2.5 billion euros.

"The latest tender won in San Diego demonstrates the success of our commitment to international business, which already represents 80% of our revenues," highlights Vela, who emphasizes that "the United States is the key market for the company's growth in the coming years."

The group, founded in Barcelona in 1968, has belonged since 2019 to the French private equity giant PAI Partners, which paid 1.542 billion euros for the company. Areas currently operates in ten countries, with a network of more than 2,000 restaurants and stores in transport concessions.

In addition to the three contracts won in the US, the multinational has been awarded this year a catering tender at the German station of Dresden, another at the Mexican airport of Guadalajara, and two important contracts in Madrid: it will exclusively operate all restaurants in the IFEMA exhibition halls and will remain the main operator of Madrid-Barajas Airport after winning the macro-tender put out by Aena, for a value of more than 1 billion euros.

At San Diego Airport, one of the country's main airports with more than 20 million travelers, Areas will operate 5 new establishments, with projected sales of around 550 million dollars during the 15-year concession period. The renovation of the gastronomic offer will begin next January, and the company foresees an investment of 18 million dollars until they become operational starting in 2025.

The United States, where the group has operated since 2006, already manages around 140 points of sale in 11 airports and 13 service areas. This market currently generates 15% of Areas' global turnover, making it the third most important, behind the Iberian Peninsula and France.

This year, Areas has also acquired the business of the French highway catering company Sighor, which will bring in an annual turnover of 65 million euros.

In the 2021-2022 fiscal year, the group achieved global consolidated sales of 1,698 million euros, which represented a 90% recovery of pre-covid revenues.