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<br /> Americas intl.<br /> departures set to<br /> hit 403m in 2026<br /> Fraport Brasil<br /> updates on<br /> JJD takeover<br /> Heinemann<br /> Americas' cruise<br /> retail playbook<br /> PRINTED LOCALLY<br /> - ESTABLISHED 1997 -<br /> HELPING THE INDUSTRY GROW<br /> MARCH/APRIL 2026<br /> ARRA Chair talks<br /> revamping the<br /> MAG model<br /> Avolta eyes<br /> growth in<br /> Argentina<br /> Starboard on<br /> making retail core<br /> to every journey<br /> Christine Duffy<br /> Carnival Cruise Line President details experience-led retail evolution... p15<br /> ALSO INSIDE<br /> PARADIES LAGARDÈRE ACCELERATES DINING ARM | EXECUTIVE RETAIL SHOPS<br /> INSIDE CANADA'S BORDER DUTYFREE BUSINESS | HARDING+ ON USA GUEST<br /> EXPECTATIONS | WINE, BEER & SPIRITS SHOPPER INSIGHTS & CATEGORY REPORT<br /> CIGARS OF CHARACTER<br /> THE LATE HOUR SERIES<br /> DISCOVER MORE<br /> Smoking seriously harms you and others a<a title="TRBusiness March/April 2026 page 1" href="https://secure.viewer.zmags.com/publication/12fbe869?page=1"> Americas intl. departures set to hit 403m in 2026</a> <a title="TRBusiness March/April 2026 page 2" href="https://secure.viewer.zmags.com/publication/12fbe869?page=2"> CIGARS OF CHARACTER </a> <a title="TRBusiness March/April 2026 page 3" href="https://secure.viewer.zmags.com/publication/12fbe869?page=3"> WELCOME Welcome to the Mar/Apr issue Experience</a> <a title="TRBusiness March/April 2026 page 4" href="https://secure.viewer.zmags.com/publication/12fbe869?page=4"> Contents </a> <a title="TRBusiness March/April 2026 page 5" href="https://secure.viewer.zmags.com/publication/12fbe869?page=5"> Mexico..................................... 58 WI</a> <a title="TRBusiness March/April 2026 page 6" href="https://secure.viewer.zmags.com/publication/12fbe869?page=6"> NEWS ROUNDUP DFS transfers travel retail conce</a> <a title="TRBusiness March/April 2026 page 7" href="https://secure.viewer.zmags.com/publication/12fbe869?page=7"> NEWS ROUNDUP Avolta wins contract extensions at</a> <a title="TRBusiness March/April 2026 page 8" href="https://secure.viewer.zmags.com/publication/12fbe869?page=8"> WINNING THE CONSUMER VOTE TRAVEL RETAIL AWARD</a> <a title="TRBusiness March/April 2026 page 9" href="https://secure.viewer.zmags.com/publication/12fbe869?page=9"> Fewer Mexico-US border shutdowns lift sales Mauri</a> <a title="TRBusiness March/April 2026 page 10" href="https://secure.viewer.zmags.com/publication/12fbe869?page=10"> NEWS ROUNDUP 3 new platforms at TFWA APEC... </a> <a title="TRBusiness March/April 2026 page 11" href="https://secure.viewer.zmags.com/publication/12fbe869?page=11"> NEWS ROUNDUP Gharage Ventures launches €40m fu</a> <a title="TRBusiness March/April 2026 page 12" href="https://secure.viewer.zmags.com/publication/12fbe869?page=12"> </a> <a title="TRBusiness March/April 2026 page 13" href="https://secure.viewer.zmags.com/publication/12fbe869?page=13"> </a> <a title="TRBusiness March/April 2026 page 14" href="https://secure.viewer.zmags.com/publication/12fbe869?page=14"> 10 years ago, we gave shopper data a voice. </a> <a title="TRBusiness March/April 2026 page 15" href="https://secure.viewer.zmags.com/publication/12fbe869?page=15"> COVER STORY: CARNIVAL CRUISE LINE Carnival Crui</a> <a title="TRBusiness March/April 2026 page 16" href="https://secure.viewer.zmags.com/publication/12fbe869?page=16"> COVER STORY: CARNIVAL CRUISE LINE value proposit</a> <a title="TRBusiness March/April 2026 page 17" href="https://secure.viewer.zmags.com/publication/12fbe869?page=17"> COVER STORY: CARNIVAL CRUISE LINE can innovate w</a> <a title="TRBusiness March/April 2026 page 18" href="https://secure.viewer.zmags.com/publication/12fbe869?page=18"> COVER STORY: CARNIVAL CRUISE LINE </a> <a title="TRBusiness March/April 2026 page 19" href="https://secure.viewer.zmags.com/publication/12fbe869?page=19"> </a> <a title="TRBusiness March/April 2026 page 20" href="https://secure.viewer.zmags.com/publication/12fbe869?page=20"> </a> <a title="TRBusiness March/April 2026 page 21" href="https://secure.viewer.zmags.com/publication/12fbe869?page=21"> AMERICAS PAX INSIGHTS Americas travel retail ou</a> <a title="TRBusiness March/April 2026 page 22" href="https://secure.viewer.zmags.com/publication/12fbe869?page=22"> AMERICAS PAX INSIGHTS Above: </a> <a title="TRBusiness March/April 2026 page 23" href="https://secure.viewer.zmags.com/publication/12fbe869?page=23"> AMERICAS PAX INSIGHTS purchases in North America</a> <a title="TRBusiness March/April 2026 page 24" href="https://secure.viewer.zmags.com/publication/12fbe869?page=24"> ARRA Rent payers or amenities? Rethinking the r</a> <a title="TRBusiness March/April 2026 page 25" href="https://secure.viewer.zmags.com/publication/12fbe869?page=25"> ARRA been one of the key points for us in our bu</a> <a title="TRBusiness March/April 2026 page 26" href="https://secure.viewer.zmags.com/publication/12fbe869?page=26"> ARRA construction, which he relayed is about 20-</a> <a title="TRBusiness March/April 2026 page 27" href="https://secure.viewer.zmags.com/publication/12fbe869?page=27"> ARRA worrying about where the electrical connect</a> <a title="TRBusiness March/April 2026 page 28" href="https://secure.viewer.zmags.com/publication/12fbe869?page=28"> ARRA meant we could focus on creating the best p</a> <a title="TRBusiness March/April 2026 page 29" href="https://secure.viewer.zmags.com/publication/12fbe869?page=29"> AVOLTA Avolta sees Argentinian strength as traf</a> <a title="TRBusiness March/April 2026 page 30" href="https://secure.viewer.zmags.com/publication/12fbe869?page=30"> AVOLTA Above: An Avolta duty-f</a> <a title="TRBusiness March/April 2026 page 31" href="https://secure.viewer.zmags.com/publication/12fbe869?page=31"> AVOLTA began about two years ago. The most signi</a> <a title="TRBusiness March/April 2026 page 32" href="https://secure.viewer.zmags.com/publication/12fbe869?page=32"> EXECUTIVE RETAIL SHOPS Executive Retail Shops s</a> <a title="TRBusiness March/April 2026 page 33" href="https://secure.viewer.zmags.com/publication/12fbe869?page=33"> EXECUTIVE RETAIL SHOPS wood-panelled shelves, an</a> <a title="TRBusiness March/April 2026 page 34" href="https://secure.viewer.zmags.com/publication/12fbe869?page=34"> FRAPORT BRASIL Fraport Brasil talks Jericoacoar</a> <a title="TRBusiness March/April 2026 page 35" href="https://secure.viewer.zmags.com/publication/12fbe869?page=35"> FRAPORT BRASIL expanding regional airports throu</a> <a title="TRBusiness March/April 2026 page 36" href="https://secure.viewer.zmags.com/publication/12fbe869?page=36"> FRAPORT BRASIL initial years, as was the case at</a> <a title="TRBusiness March/April 2026 page 37" href="https://secure.viewer.zmags.com/publication/12fbe869?page=37"> PARADIES LAGARDÈRE Relevance, flexibility and au</a> <a title="TRBusiness March/April 2026 page 38" href="https://secure.viewer.zmags.com/publication/12fbe869?page=38"> PARADIES LAGARDÈRE “Travellers expect airport d</a> <a title="TRBusiness March/April 2026 page 39" href="https://secure.viewer.zmags.com/publication/12fbe869?page=39"> PARADIES LAGARDÈRE revenue generation.” Rath</a> <a title="TRBusiness March/April 2026 page 40" href="https://secure.viewer.zmags.com/publication/12fbe869?page=40"> STARBOARD GROUP Embrace curation, storytelling </a> <a title="TRBusiness March/April 2026 page 41" href="https://secure.viewer.zmags.com/publication/12fbe869?page=41"> STARBOARD GROUP Virgin Voyages' Brilliant Lady, </a> <a title="TRBusiness March/April 2026 page 42" href="https://secure.viewer.zmags.com/publication/12fbe869?page=42"> STARBOARD GROUP Above & opposi</a> <a title="TRBusiness March/April 2026 page 43" href="https://secure.viewer.zmags.com/publication/12fbe869?page=43"> STARBOARD GROUP ear piercing, liquor and fragran</a> <a title="TRBusiness March/April 2026 page 44" href="https://secure.viewer.zmags.com/publication/12fbe869?page=44"> </a> <a title="TRBusiness March/April 2026 page 45" href="https://secure.viewer.zmags.com/publication/12fbe869?page=45"> HEINEMANN AMERICAS Cruise sector is being define</a> <a title="TRBusiness March/April 2026 page 46" href="https://secure.viewer.zmags.com/publication/12fbe869?page=46"> HEINEMANN AMERICAS multiple channels and reinfor</a> <a title="TRBusiness March/April 2026 page 47" href="https://secure.viewer.zmags.com/publication/12fbe869?page=47"> HEINEMANN AMERICAS use of space has elevated vis</a> <a title="TRBusiness March/April 2026 page 48" href="https://secure.viewer.zmags.com/publication/12fbe869?page=48"> </a> <a title="TRBusiness March/April 2026 page 49" href="https://secure.viewer.zmags.com/publication/12fbe869?page=49"> HARDING+ Confident US shoppers expect “relevanc</a> <a title="TRBusiness March/April 2026 page 50" href="https://secure.viewer.zmags.com/publication/12fbe869?page=50"> HARDING+ “US guests, in particular, are confi</a> <a title="TRBusiness March/April 2026 page 51" href="https://secure.viewer.zmags.com/publication/12fbe869?page=51"> HARDING+ human experience rather than replace it</a> <a title="TRBusiness March/April 2026 page 52" href="https://secure.viewer.zmags.com/publication/12fbe869?page=52"> Moroccanoil.com </a> <a title="TRBusiness March/April 2026 page 53" href="https://secure.viewer.zmags.com/publication/12fbe869?page=53"> CANADA BORDER SHOPS A sector in survival mode: </a> <a title="TRBusiness March/April 2026 page 54" href="https://secure.viewer.zmags.com/publication/12fbe869?page=54"> CANADA BORDER SHOPS “Due to declining traffic, </a> <a title="TRBusiness March/April 2026 page 55" href="https://secure.viewer.zmags.com/publication/12fbe869?page=55"> CANADA BORDER SHOPS playing field with US duty- f</a> <a title="TRBusiness March/April 2026 page 56" href="https://secure.viewer.zmags.com/publication/12fbe869?page=56"> CANADA BORDER SHOPS Above: </a> <a title="TRBusiness March/April 2026 page 57" href="https://secure.viewer.zmags.com/publication/12fbe869?page=57"> </a> <a title="TRBusiness March/April 2026 page 58" href="https://secure.viewer.zmags.com/publication/12fbe869?page=58"> MEXICO Mexico holds long-term promise Despite</a> <a title="TRBusiness March/April 2026 page 59" href="https://secure.viewer.zmags.com/publication/12fbe869?page=59"> MEXICO the four busiest, led by Mexico City (MEX</a> <a title="TRBusiness March/April 2026 page 60" href="https://secure.viewer.zmags.com/publication/12fbe869?page=60"> MEXICO Above: Duty-free store</a> <a title="TRBusiness March/April 2026 page 61" href="https://secure.viewer.zmags.com/publication/12fbe869?page=61"> MEXICO ears of listed Mexican In all t</a> <a title="TRBusiness March/April 2026 page 62" href="https://secure.viewer.zmags.com/publication/12fbe869?page=62"> WB&S SHOPPER INSIGHTS Self-p</a> <a title="TRBusiness March/April 2026 page 63" href="https://secure.viewer.zmags.com/publication/12fbe869?page=63"> WB&S SHOPPER INSIGHTS store (both at 43%) while </a> <a title="TRBusiness March/April 2026 page 64" href="https://secure.viewer.zmags.com/publication/12fbe869?page=64"> WB&S SHOPPER INSIGHTS Ab</a> <a title="TRBusiness March/April 2026 page 65" href="https://secure.viewer.zmags.com/publication/12fbe869?page=65"> WINE, BEER & SPIRITS REPORT Measured confidence </a> <a title="TRBusiness March/April 2026 page 66" href="https://secure.viewer.zmags.com/publication/12fbe869?page=66"> WINE, BEER & SPIRITS REPORT </a> <a title="TRBusiness March/April 2026 page 67" href="https://secure.viewer.zmags.com/publication/12fbe869?page=67"> WINE, BEER & SPIRITS REPORT said H1 2026 perform</a> <a title="TRBusiness March/April 2026 page 68" href="https://secure.viewer.zmags.com/publication/12fbe869?page=68"> </a> <a title="TRBusiness March/April 2026 page 69" href="https://secure.viewer.zmags.com/publication/12fbe869?page=69"> WINE, BEER & SPIRITS REPORT are trading up not j</a> <a title="TRBusiness March/April 2026 page 70" href="https://secure.viewer.zmags.com/publication/12fbe869?page=70"> WINE, BEER & SPIRITS REPORT Ab</a> <a title="TRBusiness March/April 2026 page 71" href="https://secure.viewer.zmags.com/publication/12fbe869?page=71"> </a> <a title="TRBusiness March/April 2026 page 72" href="https://secure.viewer.zmags.com/publication/12fbe869?page=72"> </a> <a title="TRBusiness March/April 2026 page 73" href="https://secure.viewer.zmags.com/publication/12fbe869?page=73"> WINE, BEER & SPIRITS REPORT launch and amplificat</a> <a title="TRBusiness March/April 2026 page 74" href="https://secure.viewer.zmags.com/publication/12fbe869?page=74"> WINE, BEER & SPIRITS REPORT A</a> <a title="TRBusiness March/April 2026 page 75" href="https://secure.viewer.zmags.com/publication/12fbe869?page=75"> </a> <a title="TRBusiness March/April 2026 page 76" href="https://secure.viewer.zmags.com/publication/12fbe869?page=76"> WINE, BEER & SPIRITS REPORT Ab</a> <a title="TRBusiness March/April 2026 page 77" href="https://secure.viewer.zmags.com/publication/12fbe869?page=77"> HEAVEN HILL Heaven Hill Distillery: Scaling pre</a> <a title="TRBusiness March/April 2026 page 78" href="https://secure.viewer.zmags.com/publication/12fbe869?page=78"> HEAVEN HILL “Travel retail is still one of the </a> <a title="TRBusiness March/April 2026 page 79" href="https://secure.viewer.zmags.com/publication/12fbe869?page=79"> HEAVEN HILL From a broader category perspect</a> <a title="TRBusiness March/April 2026 page 80" href="https://secure.viewer.zmags.com/publication/12fbe869?page=80"> AU VODKA Au Vodka seeks to advance its multi-mi</a> <a title="TRBusiness March/April 2026 page 81" href="https://secure.viewer.zmags.com/publication/12fbe869?page=81"> AU VODKA and 21 respectively), with an initial r</a> <a title="TRBusiness March/April 2026 page 82" href="https://secure.viewer.zmags.com/publication/12fbe869?page=82"> AU VODKA the striking gold bottles and the vibra</a> <a title="TRBusiness March/April 2026 page 83" href="https://secure.viewer.zmags.com/publication/12fbe869?page=83"> AU VODKA Australia and New Zealand – and places </a> <a title="TRBusiness March/April 2026 page 84" href="https://secure.viewer.zmags.com/publication/12fbe869?page=84"> COUNTER INTELLIGENCE Some of the best this spring</a> <a title="TRBusiness March/April 2026 page 85" href="https://secure.viewer.zmags.com/publication/12fbe869?page=85"> COUNTER INTELLIGENCE JP-GTR to introduce fast-gro</a> <a title="TRBusiness March/April 2026 page 86" href="https://secure.viewer.zmags.com/publication/12fbe869?page=86"> HERO PRODUCT SHELF APPEAL TRBusiness zooms in</a> <a title="TRBusiness March/April 2026 page 87" href="https://secure.viewer.zmags.com/publication/12fbe869?page=87"> OVER TO YOU: IAADFS Duty-free cash-and-carry b</a> <a title="TRBusiness March/April 2026 page 88" href="https://secure.viewer.zmags.com/publication/12fbe869?page=88"> PEOPLE People News Tourvest Retail &</a> <a title="TRBusiness March/April 2026 page 89" href="https://secure.viewer.zmags.com/publication/12fbe869?page=89"> WORK LIFE Spend a workday with... Nadine Clour M</a> <a title="TRBusiness March/April 2026 page 90" href="https://secure.viewer.zmags.com/publication/12fbe869?page=90"> COMMENT Now and Then... Prepping for tomorrow's</a> <a title="TRBusiness March/April 2026 page 91" href="https://secure.viewer.zmags.com/publication/12fbe869?page=91"> </a> <a title="TRBusiness March/April 2026 page 92" href="https://secure.viewer.zmags.com/publication/12fbe869?page=92"> Smoking seriously harms you and others around you</a>