May 09, 2024

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[THE INVESTOR] Hotel Lotte’s duty-free business unit Lotte Duty Free on Feb. 12 confirmed its planned bid to operate outlets at Taiwan’s Taoyuan International Airport.

“We are currently gauging the business value of the outlets at the airport,” a company spokesperson told The Investor. 

Taoyuan International Airport will receive bids next month for the operational rights of the airport’s C and D zones in Terminal 2, which span 25,400 and 31,900 square meters, respectively, as the contracts with the current operators Tasa Meng and Everrich Duty Free -- both from Taiwan -- end in August.

Sources say global duty-free operators Dufry and DFS are also interested in joining the bid.

Lotte, the nation’s largest duty-free operator, has not yet secured a firm footing globally. It lost its rights at Indonesia’s Jakarta Airport last year, while the business at Guam International Airport is also in danger of closing as Hong Kong-based DFS recently won a lawsuit against the airport’s bidding process.

The operates six stores outside Korea, including in Vietnam, Japan, US and Indonesia.

By Song Seung-hyun (ssh@heraldcorp.com)