Hill International to Manage On-Call Professional Service Program for Los Angeles World Airports

Rhea-AI Summary

Hill International (NYSE:HIL) has been awarded a contract by Los Angeles World Airports (LAWA) to oversee airport concessions development and commercial analysis at key LAWA properties, including Los Angeles International Airport (LAX). The contract spans three years with options for two one-year extensions, focusing on enhancing airport property efficiency. Hill's expert teams will provide both commercial and technical advisory services to drive revenue opportunities and support local businesses, crucial for LAWA's post-pandemic recovery.

Positive

• Awarded a significant contract to manage concessions at LAX, boosting revenue potential.
• Engagement aimed at enhancing airport property usage and efficiency.
• Team expertise includes commercial real estate and financial analysis, contributing to strong project execution.

Negative

• None.

PHILADELPHIA and LOS ANGELES, June 07, 2021 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), delivering the infrastructure of change, announced today it was selected by Los Angeles World Airports (LAWA), a Department of the City of Los Angeles, to manage airport concessions development, tenant projects, and airport commercial analysis and development at LAWA properties including Los Angeles International Airport (LAX), Van Nuys Airport (VNY), and Palmdale Landholdings.

Work will be carried out through task-order contracts under a three-year indefinite delivery/indefinite quantity contract with two potential one-year extensions. Task orders will encompass a range of projects to improve the use and efficiency of airport properties.

The Hill team is organized around two areas of expertise: commercial and technical advisory services. The commercial advisory services group will focus on providing strategic analysis and financial advisory services including commercial terms, economic and financial valuations, real estate analysis and acquisition services, concession advisory services, and leasing strategies. The technical advisory services group will manage design- and construction-related task assignments and field services. The team also includes experts in commercial real estate, financial analysis, airport design, program, and construction management services. Hill will manage projects and support the commercial and technical advisory services teams with project controls, document control, change/claims management, building information modeling (BIM)/computer aided design and drafting (CADD)/geographical information systems (GIS) services, and estimating, scheduling, and survey services.

“We have put together a team that will provide best-in-class aviation consulting services for LAWA and the City of Los Angeles,” says Hill Senior Vice President of Aviation Steven Morris. “The past year has been tough on airports and concessionaires, many of which are small businesses. Through the Hill team’s familiarity with LAWA and history of working with airports to maximize their returns on investment, we will drive opportunities for revenue for concessionaires as well as the city and support small businesses in southern California. These projects are critical to LAWA’s post-pandemic operations, and also further the city’s reputation as a leader in developing local businesses.”

Hill President, Americas, Michael B. Smith adds: “LAWA’s selection of Hill to help manage this important program demonstrates Hill’s strong reputation in both the aviation market and in Los Angeles. We’re proud clients like LAWA have the confidence to entrust us with the development of their assets, especially LAX, one of the most important airports in the world.”

About Hill International

Hill International, with more than 2,700 professionals in 69 offices worldwide, provides program management, project management, construction management, facilities management, and other consulting services to clients in a variety of market sectors. Engineering News-Record magazine recently ranked Hill as one of the largest construction management firms in the United States. For more information on Hill, please visit our website at www.hillintl.com.

Forward Looking Statements

Certain statements contained herein may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any statements of belief or intent, any statements concerning our plans, strategies, and objectives for future operations are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates, and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue, and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.

Hill International, Inc.
Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President
(215) 309-7707
elizabethzipf@hillintl.com

The Equity Group, Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com

FAQ

What is the contract awarded to Hill International regarding LAWA?

Hill International has been awarded a contract by Los Angeles World Airports (LAWA) to manage airport concessions development and commercial analysis at properties like LAX.

How long is Hill International's contract with LAWA?

The contract with LAWA is for three years, with the possibility of two one-year extensions.

What services will Hill International provide under the LAWA contract?

Hill International will provide commercial and technical advisory services focused on improving airport property efficiency and revenue opportunities.

Why is this contract important for Hill International and LAWA?

This contract is crucial for LAWA's post-pandemic recovery, aiming to enhance revenues and support local businesses affected during the pandemic.

What expertise does Hill International bring to the LAWA project?

Hill International brings expertise in commercial real estate, financial analysis, airport design, and construction management to the LAWA project.