Posts Tagged ‘Bvlgari’
Thankfully, I don’t fly nearly as often as I used to. I’m okay with flying–it’s the airports I have a problem with. No matter how uncomfortable a four-hour flight on Southwest may be, it’s still preferable to the endless, serpentine Security line.
Though waiting and finally getting through the metal detectors is rarely an airport highlight, I can think of one group of people who are extremely grateful for the work the TSA does (no matter how many water bottles and toenail clippers the TSA confiscates). That group is the retail sector.
After all, the TSA keeps airline passengers captive until (hours later) their plane finally begins boarding. For retailers, few things are more desirable than a captive audience. Where but airports (okay, and movie theaters, and theme parks) can you find sodas selling for $5 apiece?
While the freedom to charge exorbitant prices for simple comestibles provides a great advantage for companies that operate airport terminal retail, it hasn’t caused these operators to become complacent. In fact, some are now working to emulate the strategies of North America’s most successful, high-end shopping malls, bringing in the sort of luxury retail associated with Fifth Avenue. Read the rest of this entry »
Week in Review for December 1 – 7:
- Major institutional investors such as Blackstone (NYSE: BX) and Colony Financial (NYSE: CLNY) are raising hundreds of millions of dollars to acquire enormous single-family portfolios, reports CoStar Group. However, analysts warn that this strategy–creating investment platforms to acquire distressed homes in bulk and convert them to rentals–is unproven.
- The Charre Group, a small group of real estate investors and advisers focused on South Florida’s hospitality market, brings its expertise in Miami’s high-barrier-to-entry hotel market to CBRE (NYSE: CBG) by joining its hotels division.
- Liam Brown of Marriott International reports that it is difficult for any but the largest hotel brands to obtain financing for new-build hospitality projects. For new developments, LEED-certification and other sustainability measures are increasingly desirable, Mr. Brown says, though they often complicate the development process.
- Los Angeles International Airport announces the launch of a major shopping hub in its Tom Bradley International Terminal. Retail operator Westfield and its partners are introducing more than 60 high-end dining and retail options in the terminal. This project is part of “LAneXt,” a $4.1-billion series of renovations and updates for LAX. Stores planned for this terminal include Coach, Bvlgari, and Michael Kors. Read the rest of this entry »