- The global CEO of Areas, Oscar Vela, participated this morning in a colloquium organized by PWC and Foment, in which he reviewed the exponential growth of the company since its founding in 1968 and until it became a world leader in the food&beverage and travel retail sector.
- The company, born in Barcelona, is present in 10 countries, and maintains its global headquarters in Barcelona, “an added value for the Areas brand.”
- Areas is managing to capture growth in markets with the highest growth forecast, such as the airport segment and the US, a country where it plans to double its current size.
- The company has won 8 large international competitions in recent months, which will provide an additional turnover of more than 330 million euros each year.
Barcelona, October 24th, 2023
The global CEO of Areas, Oscar Vela, participated this morning in the Foment-PWC Breakfast, which on this occasion had Areas and its evolution throughout 55 years of history as the protagonist. The company’s first global executive has reviewed the growth trajectory of Areas, currently present in 10 countries with more than 2,000 establishments, and whose world headquarters remain in Barcelona because, according to Vela, “it is the city where we were born, provides added value to the Areas brand and is a highly appreciated asset internationally.”
In his colloquium, whose title “From Maresme to Los Angeles” summarizes the exponential growth and international vocation of the company since its foundation in 1968, and highlights Areas’ focus on the American market, Vela explained that the company “is an international success story for having been able to create a model of transformation of restaurants in the world of travel that has allowed us to successfully extend our activity throughout the world, and to be present in strategic places such as Paris, Los Angeles, or Madrid.”
Vela explained that the company is “in an expansive moment, with a global turnover that, after overcoming the effects of the pandemic, recovers its level of income, standing above €2,000M thanks to the boost of the international business, which for the first time exceeds 80%”, and has highlighted the pillars that have contributed to the company being today a global benchmark in travel catering, among which stand out “the diversification strategy, innovation and commitment to gastronomic concepts of quality and adapted to the consumers of each market.”
Regarding Areas’ roadmap for the coming years, the global CEO of Areas pointed out that “the company is in a new cycle of transformation that aims to continue consolidating leadership in Europe and grow internationally.” Vela has stated that the international vocation of the company, present since its foundation, “is more present today than ever.”
Of this international expansion, Oscar Vela points out the company’s interest in the airport segment, which “according to forecasts, in 2024 it will recover the pre-pandemic level of traffic and in 2027 it will be 27% higher”, and the US has highlighted, ” a strategic market for the company as it is the fastest growing market in our sector, and in which we expect to double the current size in the next 2 or 3 years.” Areas has been present in the United States since 2006 and manages around 145 points of sale in 10 airports (Houston, Minneapolis, Los Angeles, Miami, Chicago, Newark, Atlanta, Orlando, Detroit, Indianapolis) and 13 service areas in the Florida Turnpike, Maryland and West Virginia highways. Currently, the American market represents more than 15% of Areas’ global turnover, being the third market by business volume after France and Iberia (Spain and Portugal).
Finally, in his speech Vela also wanted to highlight “the transformative nature of Areas”, which has as its main axes the company’s capacity for innovation, the commitment to digitalization and the will to firmly commit to sustainability through the plan. “Areas for Change”, whose pillars are health, the planet and people.
8 big contests awarded in recent months
Areas was awarded a few weeks ago, in September of this year, the macro-competition to manage the catering at the Atlanta International Airport, in the United States, which is equivalent to the operation of 7 new premises, distributed over more than 10,000 m2, for 10 years, with expected sales of €200M during this period.
The one in Atlanta is the last of the 8 major tenders that Areas has been awarded in recent months, with contracts that will represent a turnover of more than 2.7 billion euros for the coming years, half of which will come from tenders won in the US, which It represents additional income of more than 330 million euros annually.
In the United States, the company has recently won the competition to manage 3 travel plazas on the West Virginia Highway (€248 M in 15 years), the restoration competition at Houston’s William P. Hobby Airport (€450 M in 10 years), where 10 new restaurant establishments will operate; and the competition to manage 5 new establishments at the San Diego airport (€550M in 15 years). In the US alone, the company has secured additional revenues of €1,375 M for the next 10-15 years, which represents an added turnover of €112 M each year.
In Spain, Areas was awarded the macro-competition for the Adolfo Suárez Madrid-Barajas airport in February for a value of more than 1,000 million euros for a period of 8 years, in addition to achieving exclusivity for the restaurant at the Ifema Madrid fairgrounds. Likewise, in Europe, Areas has won the restoration competition at the German Dresden station (€60M in 10 years), and in Mexico, the company has been awarded a contract at the Guadalajara airport (€140M in 7 years). Beyond contests, Areas has acquired the business of the French highway restoration company Sighor in 2023.
About Areas
International leader in food&beverage and travel retail. With presence in 10 countries, the company manages more than 2,000 restaurants and stores in Europe and America.
With a team of 20,000 people and locations in the main transport hubs in the world (airports, train stations, travel plazas in highways), as well as leisure parks, Areas provides service to more than 350 million customers every year.
Founded in 1968 in Barcelona, Areas is committed to offering high quality services to travelers. Since then, Areas has become a global benchmark operator in the industry, with a deep knowledge of the travelers’ needs and the widest range of restaurant concepts in the market.
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