8b Common Use Lounge Contract Presentation
Item No. _8b_supp Meeting Date: September 24, 2019 SEA'S COMMON-USE LOUNGES Commission 9/24/19 Lounges are an essential service for international airlines The Port has two common-use premium lounges at SEA one in the South Satellite and one on Concourse A that meet the needs of international carriers In addition, there has been a dramatic increase in the demand for lounge access by domestic travelers THE PORT'S COMMON USE LOUNGES 2 MULTIPLE BENEFITS FROM SEA'S COMMON-USE LOUNGES SEA's two common-use lounges have provided an essential service for new international carriers calling on SEA Lounge membership programs represent a significant generator of revenue to the Port (net operating income has grown 35%, compounded annually, during the last five (5) year contract) This additional revenue enables the Port to reinvest in terminal services that have become expectations of the traveling public (pet relief areas, nursing suites, enhanced accessibility services, power at seats..) 3 PASSENGER VISITS TO AND REVENUE FROM SEA'S COMMON USE LOUNGES 4 CONTRACT TERMS Up to ten (10) years contract for lounge management services Contract cost estimated to be $60,000,000, over the 10-year contract term, including management fee, incentive management fee and operating expenses 5
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