Home Tampa airport offers rent rebate to retailers

Tampa airport offers rent rebate to retailers

Andrew Pentol

29-Jun-2009

Print Article       E-Mail Article

Hillsborough County Aviation Authority is assisting tenants at Tampa International airport during economic downturn

The Hillsborough County Aviation Authority is assisting tenants at Tampa International airport (TIA) during the global economic crisis by offering a 5.5% rent rebate. TIA spokesperson Connie Mundzak told DFNIonline that the airport authority has done everything possible to help tenants—which include retailers, restaurant operators and car hire companies—during this difficult period.

She said: “The 5.5% rebate was given to our concessionaires based on actual and projected 2009 sales figures. The total amount of the rebate will not be definitive until October 2009. The airport authority is very sensitive to the impact that our economy has had on our tenants. In addition to the rent rebate, tenants have also been allowed to adjust their hours of operation in accordance with customer demand, resulting in reduced operating costs.”

Mundzak is satisfied with the performance of retailers at the airport, but does not believe the economic situation will improve until at least 2012. “Retailers are doing as well as can be expected under the current conditions,” she said. “The decline in sales is due to a reduction in the number of passengers as well as a trend among travellers to reduce their discretionary spending. As the economy strengthens and passengers have more confidence when it comes to spending, we will see an increase in sales. We do not expect domestic passenger traffic to increase until 2012.”

While most retailers at the airport experienced year-on-year falls in sales in May 2009 compared with May 2008, fashion accessories retailer Bijoux Terner has enjoyed a strong increase in sales. “Customer spending habits have changed,” Mundzak explained. “They are being very careful with their discretionary income due to the current financial crisis and are looking for bargains. Bijoux Terner provides a good product at a low price of $10 per item.”

		To unsubscribe please email us at KRuiz@bijouxterner.com   Questions or comments? Email us at customerservice@bijouxterner.com   Interested in our Franchise opportunities? Email us at Franchising@bijouxterner.com