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    URW   FR0013326246

UNIBAIL-RODAMCO-WESTFIELD SE

(URW)
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Unibail Rodamco Westfield : Smaller, 'disadvantaged' restaurants get crack at LAX space

06/02/2021 | 07:16am EDT

Small, local businesses and certified Airport Concessions Disadvantaged Business Enterprises, known as ACDBE, now have an increased opportunity to win one of 10 new dining and retail spots at Los Angeles International Airport's(LAX) Terminal 3, thanks to some relaxed requirements for potential vendors.

Los Angeles World Airports (LAWA) has partnered with Unibail-Rodamco-Westfield (URW) to make the spaces available to these groups and other businesses as part of the first of two bidding opportunities in the terminal, which is currently being renovated, a news release said.

"With LAWA's $14.5 billion modernization touching every terminal at LAX, we are creating new opportunities for local, small and minority-owned businesses," Los Angeles World Airports CEO Justin Erbacci said in the release. "With our partners at Unibail-Rodamco-Westfield, we are further removing barriers for these companies and encouraging disadvantaged operators to bid on airport contracts and help deliver our gold-standard airport experiences."

URW has evolved its competitive evaluation process to broaden the number of potential bidders, the release said. Eight of the nine bid packages are for single units only, allowing firms to propose concepts for any individual space or for a group of spaces. The company said the change was made to make it easier for smaller businesses to bid on a single unit, instead of multiple units at one time.

LAX and URW also are encouraging firms without previous experience doing business in the airport to attend "LAX Terminal 3 Leasing Opportunities," a virtual information session that will provide information about how to pursue these opportunities. The session is scheduled for 1 p.m. (Pacific Time) on Tuesday, June 8.

"With this leasing opportunity, we want to lower the barriers to entry and bring new, diverse businesses into one of the most exciting new terminals in the country," Chris Adkins, URW general manager at the airport, said in the release. "This is a great opportunity for local small businesses to break into the airports industry as we work together to build back better than before."

LAX's Terminal 2 and 3 Modernization Project is a $1.86 billion project that will modernize and upgrade the terminals and connect them the Tom Bradley International Terminal. The renovated terminals will feature 14 dining and retail destinations occupying nearly 15,000 square feet — an increase of nearly 3,000 more square feet over the old terminal's space. The terminals are projected to re-open in mid-2023.

The deadline for proposals is July 27.

Copyright © 2021 Networld Media. All rights reserved., source Industry News

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Financials
Sales 2021 2 229 M 2 648 M 2 648 M
Net income 2021 -3 840 M -4 561 M -4 561 M
Net Debt 2021 24 611 M 29 232 M 29 232 M
P/E ratio 2021 -2,37x
Yield 2021 -
Capitalization 9 872 M 11 704 M 11 726 M
EV / Sales 2021 15,5x
EV / Sales 2022 13,1x
Nbr of Employees 3 049
Free-Float 79,2%
Chart UNIBAIL-RODAMCO-WESTFIELD SE
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Unibail-Rodamco-Westfield SE Technical Analysis Chart | URW | FR0013326246 | MarketScreener
Technical analysis trends UNIBAIL-RODAMCO-WESTFIELD SE
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 18
Last Close Price 71,23 €
Average target price 69,00 €
Spread / Average Target -3,13%
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Managers and Directors
Jean-Marie Tritant Group Chief Executive & Operating Officer
Fabrice Mouchel Group Chief Financial Officer
Jean-Luc Neez Director-Finance
LÚon Bressler Chairman-Supervisory Board
Olivier Bossard Chief Investment Officer
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