Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Airport Operations topic
No spam. Unsubscribe anytime.
SFO lease for foreign-currency services with Travelex advances with positive recommendation
Summary
Airport staff asked the committee to approve a five-year Travelex lease for a foreign-currency exchange operation at SFO with a first-year minimum annual guarantee near $5.4 million; the Budget Analyst recommended approval and the committee moved the item forward.
San Francisco International Airport staff presented a five-year lease with Travelex Currency Services on Feb. 25, seeking committee approval for foreign-currency exchange and related retail services in airport terminals.
Kathy Weidner, representing the airport, said the lease resulted from a competitive RFP process (Travelex was the sole respondent) and would run from 2015 through 2019 with a minimum annual guarantee of roughly $5.4 million in the first year and CPI-based adjustments thereafter. The lease would allow sale of major world currencies, prepaid debit cards, travel insurance and other ancillary services.
The Budget and Legislative Analyst recommended approval based on projected minimum guarantees. Supervisor Katie Tang moved to forward the item with a positive recommendation; the committee took the motion without objection. The full Board will receive the item for final approval.
