Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/513366
J u n e 2 0 1 5 / S C T 7 Soaring sales One year after the unveiling of the new International Terminal 5 at Chicago O'Hare International Airport (a $26 million transformation by Westfield that features a reconfigured environ- ment, a more-efficient TSA checkpoint and 24 sophisticated dining and retail destinations), sales are reaching record highs. They are up by roughly 70 per- cent since redevelopment began in 2011, according to city data. Last year total sales exceeded $43 million, generating approximately $6.5 million in revenue for Chicago, more than double the 2010 revenue. The terminal was built in 1993. The re-engineered layout enhances the traveler experience by im- proving passenger flow and offering dining, retail and amenities, includ- ing a 10,000-square-foot, duty-free shop by Dufry that departing passen- gers flow through after crossing the TSA checkpoint. Westfield nearly doubled the retail and dining space to nearly 30,000 square feet. "With record sales, greater reve- nues for the city, more jobs than ever before, and an incred- ible new experience for travelers from all over the world, Westfield applauds Mayor Rahm Emanuel, the city of Chicago, and the Chicago Department of Aviation for hav- ing the vision to take a bold stand, reject the status quo and embrace a better future for Chicago's global gateway," said Dominic Lowe, an executive vice president at Westfield, in a press release. "We are honored and committed to serving the city of Chicago, and we are only just getting started in working with the city to drive tourism, spur even greater economic development and continue to forge a bold new path at Chicago's airports." From 2011 to 2014, food-and- beverage sales at Terminal 5 grew by 94 percent, duty-free sales by 61 percent, and retail sales by 65 per- cent, setting records in each category and contributing to the record total sales, Westfield reports. Passengers at Terminal 5 are spending more. Last year passengers spent $23.32 each on average, up by about 50 percent from 2010. Before the rede- velopment, 95 percent of the options were located before the security area, making it difficult for passengers to access food and shops while waiting for flights. Westfield, best known for its mall business, also manages retail at airports around the globe, including Kennedy Airport, Newark Airport, LAX and George Bush Intercontinental. Safe spot RioCan, Canada's largest REIT, has launched the Red Dot Safe Spot cam- paign, declaring its 40 malls nationwide bully-free zones. Shoppers at Rio- Can centers can go to guest services to report bullying and get help, and the company is working with Leave Out Violence, which focuses on reducing youth violence, to create the reddotsafespot.com directory. It also worked with teen-oriented TV program Degrassi, whose cast members are featured in an anti-bullying public-service announcement, during an event at Law- rence Square. RioCan has ownership interests in 353 retail properties total- ing 79 million square feet, including 13 million square feet in the U.S.