The development will include a Ground Transportation Center and Consolidated Rent-A-Car facility as part of the MoreRNO program
RENO, Nev.–(BUSINESS WIRE)–Today, Meridiam, a leading sustainable infrastructure asset manager, and Conrac Solutions (CS), the nation’s only provider of on-airport consolidated rent-a-car facilities, announced a partnership with the Reno-Tahoe Airport Authority (RTAA) to develop a new Ground Transportation Center (GTC), including a consolidated rent-a-car facility, at Reno-Tahoe International Airport (RNO), located in Reno, Nevada. The $299 million privately financed project is part of the broader MoreRNO Infrastructure Program and will enhance its efficiency and sustainability at no cost to local taxpayers.
This project, the first following Meridiam’s acquisition of CS in May 2023, complements CS’s 17 existing consolidated rent-a-car facility projects across the country. It also adds to Meridiam’s growing portfolio of modern, sustainability-focused airport assets and reinforces CS’s leadership in developing consolidated rental car facilities in partnership with airport authorities and the rental car industry.
The new facility will be energy efficient and electric-vehicle-enabled in the future, contributing to a lower overall carbon footprint for the airport. It will also include covered pedestrian access from the terminal and increase parking capacity in the airport’s garage through relocation of rental car fleets.
“This project is emblematic of Meridiam’s new ownership of Conrac Solutions, focused on delivering high quality infrastructure to US airport authorities and improving the long-term sustainability of critical transportation infrastructure for communities nationwide,” said Nicolas Rubio, CEO Americas, Meridiam. “We are delighted to partner with the RTAA to deliver this transformational project and enhance the tourism and traveler experience for decades to come.”
“We’re proud of this unprecedented Public-Private Partnership with Meridiam and Conrac Solutions,” said Daren Griffin1, President and CEO of the Reno-Tahoe Airport Authority. “This collaboration is a significant $299 million private sector investment, marking a historic moment for our region. We’re committed to delivering an exceptional travel experience for our passengers while keeping the convenience and ease that they deserve, and Conrac Solutions’ proven track record in developing innovative ConRAC facilities aligns with our vision for revolutionizing ground transportation at RNO.”
“We are proud to have been selected by the rental car industry to develop, finance, and operate a facility that is an important part of the Airport’s MoreRNO program. Once open, the rental car facility will improve the customer experience by streamlining rental car operations within a centralized location that is still walkable from the terminal and allows for increased airport public parking capacity,” said Michael Minerva, CEO, Conrac Solutions.
Meridiam brings its expertise in sustainable infrastructure and first-hand experience working on transforming international airports around the world, including the recent redevelopment of LaGuardia Airport’s Terminal B in New York City. The project re-envisioned one of America’s most iconic airports and delivered a world-class terminal that was, in 2023, the first terminal in North America and among just 22 airports and terminals worldwide to achieve the highest possible 5-Star Airport Terminal Rating from Skytrax.
Since 2005, Meridiam has been committed to providing sustainable and transformational infrastructure to communities across the globe, in alignment with the UN Sustainable Development Goals. Meridiam currently manages 125+ projects focused on low carbon solutions, sustainable mobility, and critical public services across the Americas, Europe, and Africa.
About Meridiam
Meridiam is a leading infrastructure developer, investor, and manager, committed to delivering sustainable and resilient infrastructure that delivers positive impact for communities for the long term. Meridiam is an independent investment Certified B Corporation™ and an asset manager that specializes in development, financing, and long-term management of sustainable infrastructure assets in three core sectors: sustainable mobility, critical public services, and innovative low-carbon solutions. With offices in Addis Ababa, Amman, Dakar, Istanbul, Johannesburg, Libreville, Luxembourg, Washington D.C., Paris, and Vienna, Meridiam’s current global aggregate capital investment is US$85 billion across more than 125 assets to date. Meridiam is a partner of choice to the public sector in North America with a diversified investment and project portfolio, extensive track record, and deep industry expertise. At present, Meridiam manages 25 infrastructure assets in the US, Canada, and Chile with an aggregate capital investment close to US$29 billion. Meridiam is certified ISO 9001: 2015, Advanced Sustainability Rating by VigeoEiris (Moody’s), ISO 37001 Anti-Corruption certification by AFNOR and applies a unique methodology in relation to ESG and impact based on the United Nations’ Sustainable Development Goals (SDGs).
About Conrac Solutions
Conrac Solutions is an innovative sector leader pioneering consolidated rent-a-car facility project delivery, operations and finance within the mobility infrastructure and aviation space. Conrac Solutions is owned by Meridiam, an independent investment Certified B Corporation™️ and an asset manager that specializes in development, financing, and long-term management of sustainable infrastructure assets (www.meridiam.com). Borne out of the unique combined needs of airports and the rent-a-car industry, CS methodology provides a collective solution for on-airport rent-a-car tenant needs, enhanced traveler experience and reduced environmental footprint. Conrac Solutions operates across 12 states at 16 airports in Anchorage, AK; Austin, TX; Bismarck, ND; Charlotte, NC; Chicago, IL; Eugene, OR; Lubbock, TX; Newark, NJ; Orlando, FL; Portland, OR; Salt Lake City, UT; San Diego, CA; San Francisco, CA; SeaTac, WA and Wilkes-Barre/Scranton, PA. Completed development projects include Ted Stevens Anchorage International Airport, Austin-Bergstrom International Airport, Bismarck Airport, Bradley International Airport, Newark Liberty International Airport and Wilkes-Barre/Scranton International Airport. ConRACs under construction include Reno-Tahoe International Airport, slated for delivery in 2028, and ConRACs currently in planning include Charles M. Schulz-Sonoma County Airport and Fairbanks International Airport. For more information, please visit www.conracsolutions.com.
About The Reno-Tahoe Airport Authority
The Reno-Tahoe Airport Authority (RTAA) operates two of the most important economic drivers for the northern Nevada region–the Reno-Tahoe International Airport (RNO) and the Reno-Stead Airport (RTS). The RTAA is financially self-sufficient, meaning it is funded through airport operations and not state or local taxes. The RTAA is transforming the travel experience at RNO with a multi-year infrastructure program, MoreRNO. This construction program—the largest ever at the airport—will bring passengers more of what they love. Learn more at www.MoreRNO.com.
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1 Daren Griffin is not an officer, director, employee or advisory client of Meridiam Infrastructure North America or its affiliates (“Meridiam”), or an investor in any investment vehicle managed by Meridiam. Daren Griffin did not receive any cash or non-cash consideration from Meridiam for conducting this interview. |
Contacts
Media:
Prosek Partners: pro-meridiam@prosek.com
Antoine Lenoir: +33 6 07 50 75 85 – a.lenoir@meridiam.com
Cassidy Davis: +1 (206) 499-9505 – cdavis@conracsolutions.com
