CONCESSIONAIRE Meaning and
Definition
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A concessionaire is an individual or company that is granted the rights and privileges to operate a business or provide services on a specific property or within a designated area. This is typically done through a contractual agreement, sometimes with a governmental entity or a property owner. The concessionaire is authorized to carry out certain activities and utilize the specified premises for a defined period of time. The arrangement often involves the concessionaire paying a fee or a percentage of their revenue as compensation for the exclusive rights bestowed upon them.
Concessionaires can be found in various industries such as tourism, transportation, food and beverage, and retail. For example, in a national park, a concessionaire might be responsible for managing and operating campsites, lodges, restaurants, and guided tours. Similarly, at an airport, a concessionaire might operate retail stores, duty-free shops, or food concessions.
The duties of a concessionaire typically include providing quality services or goods to customers, maintaining the designated area, adhering to applicable regulations and standards, and paying any required fees or royalties. They are responsible for managing their business operations, marketing their products or services, and generating profit within the framework of the concession agreement. Concessionaires often play a vital role in enhancing the visitor experience and supporting the overall economy of a particular location or venue.
Common Misspellings for CONCESSIONAIRE
Etymology of CONCESSIONAIRE
The word "concessionaire" has been borrowed from the French language. It is derived from the French word "concessionnaire", which means a person or company that has been granted a concession. The French term, in turn, is derived from the verb "concéder", meaning "to grant" or "to concede". The English term "concessionaire" retains the French spelling and pronunciation, and refers to a person or company that has been given the right to operate a business or provide services in a specific area, often within the context of a contractual agreement or government authorization.
Similar spelling word for CONCESSIONAIRE
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