Los Angeles airport approves lease agreements for rental car facility to be constructed by private partner
The Los Angeles Board of Airport Commissioners (BOAC) has approved concession and lease agreements with seven rental car companies representing 14 brands that will relocate to the new Los Angeles International Airport (LAX) Consolidated Rent-A-Car (ConRAC) facility when it opens in 2023.
The ConRAC is being delivered through a public-private partnership. The selection of the recommended developer is anticipated to go before BOAC in September. The winning consortium among four proposers will design, build, finance, operate and maintain the facility under an agreement that continues for 25 years after it opens.
The seven companies that will operate in the new facility are Avis Budget Car Rental, Enterprise Rent-A-Car Company of Los Angeles, the Hertz Corporation, Fox Rent A Car, DR Car Rental, Sixt Rent a Car and Advantage Opco.
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