Denver International Airport announced a series of additional financial relief measures to assist concessionaires through the end of 2020.
“We want our concessionaires to be profitable and to be able to continue to operate at DEN,” said airport CEO Kim Day. “We hope that these measures will help them to stabilize financially.”
In March, the airport lowered the monthly rent for concessionaire shops and rental car companies and paused the minimum annual guarantee payments. Now, the airport is suspending penalty payments for companies that decide to close permanently. There will also be no mandatory contributions to the joint marketing fund. Finally, any renovations for concourse or terminal businesses that were supposed to occur in 2020 will wait.
As businesses reopen or rehire their workforces, the airport is requiring stores and rental car companies to give the right of first refusal to their former employees. An Airport Concession Disadvantaged Business Enterprises initiative for minority- and woman-owned concessionaires will help those businesses apply for income assistance from sources including the federal Paycheck Protection Program.
DIA saw a drop in passengers of approximately 50% in March 2020 compared to the year prior. CBS4 reported earlier in May that passenger traffic through security checkpoints continued to fall, and is down 93% amid event cancellations and stay-at-home orders.