You May See Fewer Starbucks Coffee Shops at U.S. Airports: Here’s Why [Yahoo! Finance News]
Host Hotels & Resorts, Inc. (HST)
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Source: Yahoo! Finance News
You soon may see fewer Starbucks stores at U.S. airports, after HMS Host, which operates all of the roughly 400 terminal locations nationwide, severed its nearly 30-year-old exclusivity agreement with the famous coffee chain. Since 1991, HMS Host has been the only concession company that could partner with Starbucks at U.S. airports. Starbucks has been a boon for business, with some airports choosing HMS Host to operate many of their food and beverage outlets because they wanted the iconic coffee company. But interests change, and in recent years, Starbucks hasn’t been the draw for airports it once was. Still, this doesn’t mean Starbucks will disappear from airports. A lot of HMS Host locations have 10-year agreements with airports, so many will remain for many years. Also, other concession companies will now be free to bid for Starbucks airport locations. Blame the Local Craze For HMS Host, sales are not necessarily the problem. Starbucks outlets still perform well at airports, becau
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HST
Earnings
- 11/6/24 - In-Line
HST
Sec Filings
- 11/14/24 - Form SC
- 11/8/24 - Form SC
- 11/6/24 - Form 8-K
- HST's page on the SEC website