India, Sept. 25 -- GMR Hospitality Ltd has been selected for setting up, operating and maintaining food and beverage outlets at Terminal 3 of the Delhi airport.

The company has won the contract for an initial period up to May 2036 that can up extended by another 10 years, and has entered into a license agreement with Delhi International Airport Ltd (DIAL), according to a regulatory filing. GMR Hospitality Ltd (GHL) and DIAL, which operates the Indira Gandhi International Airport in the national capital, are part of the GMR Group.

"The licence fee is based on the revenue share payment model to DIAL, which would be ascertained based on the revenue from Food & Beverages Outlets on a year-on-year basis, with a minimum monthly guarantee paya...