Spain-based Áreas has successfully built up a major pan-regional chain of restaurants at airports in Latin America.
BY JOACHIM BAMRUD
Many business travelers to Latin America have eaten their food and drunk their coffee, but few are aware of their origin or other details about the company. Spain-based Áreas is a leading pan-regional restaurant operator at airports and highways in Latin America, with a particularly strong presence in Mexico.
And its a business thats doing well. In 2006, Áreas boasted Latin America sales of 135.8 million euro (approximately US$180 million). That was an increase of 9.1 percent from 2005. Last year sales were expected to have grown by another 6 percent or higher, according to Xavier Rabell, CEO of Areas USA. "We [were] planning to grow 6 -7 percent in Latin America overall," he says of 2007. "Chile we will grow even more because of [an] acquisition we made."
Áreas-owned restaurants at airports and highways account for more than 80 percent of its Latin America revenues, with the remainder coming from outlets at shopping malls and train stations.
Mexico is by far the top market, accounting for 86 percent of Latin American sales. It is also Áreas second-largest market worldwide after its home...
Keywords: Argentina, Brazil, Chile, Dominican Republic