Italy's Autogrill has signed its first contracts in Turkey and the UAE, striking deals to open airport restaurants through its HMSHost unit that it expects will generate 125 million euros ($153 million) of sales.
The contracts include opening 13 outlets in Istanbul in a deal worth an estimated 100 million euros in sales over its 10-year span, and four outlets in Dubai worth an estimated 25 million euros over five years, it said on Thursday.
Turkey, as an emerging market that bridges Europe and Asia, has seen robust growth in recent years and is expected to grow by around 3.3 per cent in 2012, according to Organisation for Economic Cooperation and Development (OECD) estimates.
The Turkish economy surged 8.5 per cent in 2011, the fastest growth rate in Europe, posting a record current account deficit of 10 per cent of its GDP.
More than 50 million passengers passed through Dubai International Airport in 2011, the fourth highest for airports by international passenger traffic, the statement said.