Site work and renovation of a mixed-use development in San Antonio, Texas. Completed plans call for site work for a transportation facility; for the renovation of a pre-engineered storage facility; and pre-engineered storage facility.

https://www.bizjournals.com/sanantonio/news/2024/01/26/business-of-the-year-airport-expansion.html At the center of those efforts were key gains made toward the implementation of a $2.5 billion airport expansion and improvements plan that will include a third terminal. _________________ https://www.bizjournals.com/sanantonio/news/2024/01/25/sa-airport-sets-record.html The heavy volume of traffic comes as the city of San Antonio continues to advance its plans for a $2.5 billion airport expansion and improvements plan that will include a third terminal and increased gate capacity. _________________ https://www.bizjournals.com/orlando/news/2024/01/16/country-clubs-pivot-point-subscription.html Jan 16, 2024 Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. Today, we're looking at the future of country clubs, the ongoing battle over remote work and mega investors exiting the housing market -- but we're starting with some big changes to airport lounges. Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. Airport lounges are getting more exclusive. Here's why. Demand for airport lounge access has outstripped supply, and credit-card companies are pulling back on perks. That's making the lounges more exclusive, reports Andy Medici of The Playbook. FOR EXAMPLE: Delta Air Lines Inc. made a host of changes last year to its loyalty program, including cutting lounge access for American Express customers -- though the backlash pushed the company to backtrack on some of the changes. Alaska Airlines increased lounge membership costs by $100 per year. Capital One Financial Corp. customers using Venture Rewards credit cards or Spark Miles for Business won't get complimentary lounge passes, either. BIG PICTURE: It's a sign of things to come, said Justin Albertynas, CEO of travel digital platform Ratepunk. More people in lounges creates a less exclusive, luxury feel, and the changes are meant to fix overcrowding, he said. Other solutions, like building more or larger lounges, are often too cost prohibitive. QUOTABLE: "This is a very natural change, and I expect it to continue rising until demand and supply balance out," Albertynas said. "It is even my own personal opinion that there are too many people in these lounges at the moment, and sometimes it's difficult to find a place to sit down." FULL STORY: Delta, Capital One among companies making airline lounges more exclusive The end of remote work Not quite, but companies are drawing a line in the sand. As businesses approach four years since the onset of the pandemic and the rise of remote work, the outlook for remote and hybrid arrangements remains murky, reports Andy Medici of The Playbook. PUSH AND PULL: Stanford Economics Professor Nick Bloom on Nov. 28 took to X, formerly known as Twitter, to call remote-work numbers "flat as a pancake." He noted that the number of people working remotely had leveled off after falling from its pandemic peak while office occupancy had flatlined. "Return to the office is dead," Bloom wrote. Many companies, however, continue to draw red lines for workers. About 80% of companies will track employee office attendance this year, with 95% of companies saying employees will suffer consequences if they don't meet targets, according to a survey of business leaders by ResumeBuilder. NUMBERS: The Bureau of Labor Statistics in October 2022 began tracking the number of workers reporting they were working from home some or part of the time. That month, 17.9% of workers ages 16 years and older said they working from home some or all of the time. By October 2023, that number had grown to 19.8%. In December, two months later, it was 21.9%, although part of that bump could be because of the holiday season. ZOOMING IN: People working in 3management, professional and related fields collectively reported a far higher rate of remote work than workers in other industries, with a 34.8% mark as of November, according to the BLS. Workers with advanced degrees also are far more likely to work remotely, according to the BLS. About 38% of employees with a degree higher than a bachelor's degree reported working remotely at least part of the time, compared to 2.4% of employees with less than a high school diploma and 7.2% of workers with high school diplomas and no college degree. Mega investors pull back from housing market Investors willing to make aggressive cash offers on homes have been a significant presence in the soaring housing market in the past several years. The largest of them, however, may be starting to pull away, reports Ashley Fahey of The Business Journals. NUMBERS: Since 2021, investors of all sizes and stripes have made roughly one-quarter of all single-family purchases, according to CoreLogic Inc. While its fourth-quarter numbers aren't yet final, they're likely to look familiar, with one exception -- larger investors are buying fewer homes, said CoreLogic economist Thom Malone. Mega investors (those that own more than 1,000 properties) bought between 8,000 and 10,000 single family homes each month throughout 2023. That's still up by about 1,000 properties from 2019, but it's well below the typical 20,000 purchases that category made in 2021 and 2022. The iBuyer effect: Instant buyers had an outsized impact on the shift. The iBuyer business model has been tested by the dramatic swings in the housing market, and it has gone from about 9,000 purchases nationally in August 2021 to 1,000 per month by late 2023. Country clubs are at a pivot point. Will subscription models change the game Blake Walker is betting that the future of country clubs and golf courses -- which are at a key point in their evolution -- will operate under a subscription model. His company, Arcis Golf LLC, has acquired nearly 70 clubs around the nation, including both daily-fee courses and private country clubs, reports Andy Medici of The Business Journals. THE PLAN: Arcis has acquired and invested $100 million in pockets of courses around the nation. In 2021, he told the Dallas Business Journal, his plans to double the company over the next five years, through acquisitions and organic growth. Arcis, the second-largest country-club organization after the acquisitive Invited Corp., is building its portfolio at a time when the wider country club industry faces a crossroads. THE CONCEPT: Daily-fee courses and private country clubs have historically not mixed, but Walker sees a future in which customers can get access to more than one course for their fees with a membership that evolves. His goal is to create an ecosystem that includes everything from entry-level to upscale clubs in every major metro in the U.S. THE BIG PICTURE: Walker's company is seeking to disrupt traditional models at an inflection point for golf courses and country clubs alike. Many golf courses have seen a surge of business since the pandemic, while a variety of factors have led several country clubs to close their doors and contributed to rising dues at others. _________________________________________ https://www.bizjournals.com/houston/news/2024/01/16/country-clubs-pivot-point-subscription.html Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. Today, we're looking at the future of country clubs, the ongoing battle over remote work and mega investors exiting the housing market -- but we're starting with some big changes to airport lounges. Get more stories like these every day in your inbox by subscribing to The National Observer newsletter. Airport lounges are getting more exclusive. Here's why. Demand for airport lounge access has outstripped supply, and credit-card companies are pulling back on perks. That's making the lounges more exclusive, reports Andy Medici of The Playbook. FOR EXAMPLE: Delta Air Lines Inc. made a host of changes last year to its loyalty program, including cutting lounge access for American Express customers -- though the backlash pushed the company to backtrack on some of the changes. Alaska Airlines increased lounge membership costs by $100 per year. Capital One Financial Corp. customers using Venture Rewards credit cards or Spark Miles for Business won't get complimentary lounge passes, either. BIG PICTURE: It's a sign of things to come, said Justin Albertynas, CEO of travel digital platform Ratepunk. More people in lounges creates a less exclusive, luxury feel, and the changes are meant to fix overcrowding, he said. Other solutions, like building more or larger lounges, are often too cost prohibitive. QUOTABLE: "This is a very natural change, and I expect it to continue rising until demand and supply balance out," Albertynas said. "It is even my own personal opinion that there are too many people in these lounges at the moment, and sometimes it's difficult to find a place to sit down." FULL STORY: Delta, Capital One among companies making airline lounges more exclusive The end of remote work Not quite, but companies are drawing a line in the sand. As businesses approach four years since the onset of the pandemic and the rise of remote work, the outlook for remote and hybrid arrangements remains murky, reports Andy Medici of The Playbook. PUSH AND PULL: Stanford Economics Professor Nick Bloom on Nov. 28 took to X, formerly known as Twitter, to call remote-work numbers "flat as a pancake." He noted that the number of people working remotely had leveled off after falling from its pandemic peak while office occupancy had flatlined. "Return to the office is dead," Bloom wrote. Many companies, however, continue to draw red lines for workers. About 80% of companies will track employee office attendance this year, with 95% of companies saying employees will suffer consequences if they don't meet targets, according to a survey of business leaders by ResumeBuilder. NUMBERS: The Bureau of Labor Statistics in October 2022 began tracking the number of workers reporting they were working from home some or part of the time. That month, 17.9% of workers ages 16 years and older said they working from home some or all of the time. By October 2023, that number had grown to 19.8%. In December, two months later, it was 21.9%, although part of that bump could be because of the holiday season. ZOOMING IN: People working in 3management, professional and related fields collectively reported a far higher rate of remote work than workers in other industries, with a 34.8% mark as of November, according to the BLS. Workers with advanced degrees also are far more likely to work remotely, according to the BLS. About 38% of employees with a degree higher than a bachelor's degree reported working remotely at least part of the time, compared to 2.4% of employees with less than a high school diploma and 7.2% of workers with high school diplomas and no college degree. Mega investors pull back from housing market Investors willing to make aggressive cash offers on homes have been a significant presence in the soaring housing market in the past several years. The largest of them, however, may be starting to pull away, reports Ashley Fahey of The Business Journals. NUMBERS: Since 2021, investors of all sizes and stripes have made roughly one-quarter of all single-family purchases, according to CoreLogic Inc. While its fourth-quarter numbers aren't yet final, they're likely to look familiar, with one exception -- larger investors are buying fewer homes, said CoreLogic economist Thom Malone. Mega investors (those that own more than 1,000 properties) bought between 8,000 and 10,000 single family homes each month throughout 2023. That's still up by about 1,000 properties from 2019, but it's well below the typical 20,000 purchases that category made in 2021 and 2022. The iBuyer effect: Instant buyers had an outsized impact on the shift. The iBuyer business model has been tested by the dramatic swings in the housing market, and it has gone from about 9,000 purchases nationally in August 2021 to 1,000 per month by late 2023. Country clubs are at a pivot point. Will subscription models change the game Blake Walker is betting that the future of country clubs and golf courses -- which are at a key point in their evolution -- will operate under a subscription model. His company, Arcis Golf LLC, has acquired nearly 70 clubs around the nation, including both daily-fee courses and private country clubs, reports Andy Medici of The Business Journals. THE PLAN: Arcis has acquired and invested $100 million in pockets of courses around the nation. In 2021, he told the Dallas Business Journal, his plans to double the company over the next five years, through acquisitions and organic growth. Arcis, the second-largest country-club organization after the acquisitive Invited Corp., is building its portfolio at a time when the wider country club industry faces a crossroads. THE CONCEPT: Daily-fee courses and private country clubs have historically not mixed, but Walker sees a future in which customers can get access to more than one course for their fees with a membership that evolves. His goal is to create an ecosystem that includes everything from entry-level to upscale clubs in every major metro in the U.S. THE BIG PICTURE: Walker's company is seeking to disrupt traditional models at an inflection point for golf courses and country clubs alike. Many golf courses have seen a surge of business since the pandemic, while a variety of factors have led several country clubs to close their doors and contributed to rising dues at others. _____________ https://www.bizjournals.com/stlouis/news/2024/01/10/airport-lounge-credit-card-travel-points-loyalty.html Jan 10, 2024 Airport lounges are becoming more exclusive as demand for them outstrips supply, and credit-card companies pull back on lounge perks, according to travel experts. Delta Air Lines Inc. (NYSE: DAL) made a host of changes last year to its loyalty program, including cutting its Sky Club lounge access for American Express credit-card holders, creating a backlash that forced the company to temper some of its changes, such as capping the number of lounge visit annually at a higher number. Alaska Airlines Inc., meanwhile, hiked the price of its annual lounge memberships by $100 and restricted access to members flying Alaska or partner airlines. Capital One Financial Corp. (NYSE: COF) also announced, starting in 2025, its Capital One Venture Rewards credit card and its Capital One Spark Miles for Business card holders will no longer get complimentary airport lounge passes, instead paying $45 per visit. Industry watchers say it's a sign of things to come. "The changes are definitely being made to make the lounges more refined and exclusive," said Justin Albertynas, CEO of travel digital platform Ratepunk. "This is a very natural change, and I expect it to continue rising until demand and supply balance out. It is even my own personal opinion that there are too many people in these lounges at the moment, and sometimes it's difficult to find a place to sit down. This, in turn, results in a less luxurious and exclusive feel." Since there are only so many airport lounges -- and it's time consuming and expensive to build more -- people are willing to pay a premium for them. That means airports and airlines need to push back against overcrowding while ensuring profit growth, Albertynas said. Travel credit-card market keeps growing It's likely there will be even more competition for airport lounge space not only as people travel more but also because the use of travel-related credit cards is set to grow significantly in the coming years. A report by Allied Market Research found the global travel credit card industry, which hit $16.4 billion in 2022, is anticipated to bring in $48.5 billion by 2032 -- although proposed legislation could cut into those projections. Allied also predicted so-called "co-branded" credit cards -- issued by a financial institution in partnership with a company, organization or brand -- would continue to dominate the overall travel credit-card market. In Delta's case, its co-branded credit card with American Express grew by 1.2 million people in 2022 (2023 numbers are not yet available in U.S. Securities and Exchange filings) with "renumeration from American Express surpassing 45.5 billion," the company said in SEC filings. Overall, 10% of so-called "revenue miles" flown on Delta were paid for with redeemed loyalty program miles. Delta, in turn, has a purchasing card with American Express for the purposes of buying jet fuel and crude oil, with a $1.1 billion limit as of the end of 2022. Loyalty program revenue grew from about $1.77 billion in 2021 to $2.56 billion in 2022, and hit $2.54 billion in just the first nine months of 2023. Lounge access revenue grew, too, from $556 million in 2021 to $894 million in 2022. For the first nine months of 2023, loyalty revenue was about $2.3 billion, with $790 million in lounge revenue for the first nine months of 2023 -- both far ahead of where they were at the same time in 2022. Murtaza Khanbhai, founder of Reward Flight, which helps people take advantage of their loyalty points and credit cards to pay for travel, said airlines have made huge amounts of money selling points to banks and credit-card issuers. To increase this profit, banks have developed more and more exclusive credit cards with perks to encourage people to sign up for them. Building more lounges a logistical challenge While airport lounges initially began as a perk for the most loyal and highest-paying customers, that exclusivity has slowly vanished, Khanbhai said. "As travel has gone through a renaissance post-pandemic, and more and more people are signing up to credit cards purely to take advantage of the perks, the lounges are becoming crowded and not offering that same feeling of exclusivity and peacefulness that was previously their hallmark," Khanbhai said. "This leads to dissatisfied customers and, for those who the lounge was originally intended for, a step backwards." The only way to solve this problem is either to reduce access for certain groups or build and open new, more exclusive lounge areas. "Building new, larger lounges is an expensive endeavor, so it's easier for airlines to restrict access to those who contribute the most to the airline's revenue," Khanbhai said. At the San Antonio International Airport, a $2.5 billion expansion plan will include new ground gates, aircraft parking spots, larger passenger waiting areas and retail space, according to the San Antonio Business Journal. It will also include more than 29,000 square feet for clubs and lounges. In Houston, United Airlines Inc. (Nasdaq: UAL) will pursue a $2.6 billion renovation and expansion as well as a new United Club, which will be largest one in its system. The airline has opened eight new locations in the past two years, with those having 50% more seating space than the clubs they've replaced. _________________________________________ https://www.bizjournals.com/austin/news/2024/01/10/airport-lounge-credit-card-travel-points-loyalty.html Jan 10, 2024 At the San Antonio International Airport, a $2.5 billion expansion plan will include new ground gates, aircraft parking spots, larger passenger waiting areas and retail space, according to the San Antonio Business Journal. It will also include more than 29,000 square feet for clubs and lounges. _________________________________________ https://www.bizjournals.com/sanantonio/news/2024/01/10/airport-lounge-credit-card-travel-points-loyalty.html At the San Antonio International Airport, a $2.5 billion expansion plan will include new ground gates, aircraft parking spots, larger passenger waiting areas and retail space, according to the San Antonio Business Journal. It will also include more than 29,000 square feet for clubs and lounges. _____________________________________________________________________________________ https://www.bizjournals.com/sanantonio/news/2023/12/28/rewind-2023-economic-gains.html It comes as the city is advancing work on a $2.5 billion expansion of San Antonio International Airport _____________________________________________________________________________________ https://www.bizjournals.com/sanantonio/news/2023/12/27/rewind-2030-airport-expansion.html Years of discussion about the need to address San Antonio’s long-term air access infrastructure reached a critical point in 2023 as city leaders moved a $2.5 billion airport expansion and improvements strategy from the planning phase to initial design work. The centerpiece of that undertaking is a roughly $100 million new terminal development project expected to significantly increase airline and passenger capacity at San Antonio International Airport. _____________________________________________________________________________________ https://www.bizjournals.com/sanantonio/news/2023/12/12/city-council-1b-airport-contract.html Chalk up another win for San Antonio airport leaders as City Council has given the green light to City Manager Erik Walsh to execute a construction manager at risk contract with Hensel Phelps Construction Co. for a $1 billion terminal development project. _____________________________________________________________________________________ https://www.bizjournals.com/sanantonio/news/2023/11/29/city-critical-step-airport-expansion.html The Alamo City has made a critical move toward advancing its $2.5 billion plan to expand and improve San Antonio International Airport, locking in a global firm to oversee its roughly $1 billion new terminal development plan. _____________________________________________________________________________________ Design-Build Contractor, will be soliciting proposals from subcontractors for the construction of The City of San Antonio - Ground Loading Facility Project, San Antonio International Airport, San Antonio, TX. Proposal Package 02 consists of the Design and Construction of a Pre-Engineered Metal Building. Work includes relocating gate and guard building. All Certified Disadvantaged Business Enterprises included in the Texas Unified System are encouraged to submit proposals. The project's DBE Goal = TBD%. Hensel Phelps Construction Co. is available at (512) 834-9848. Our company is an E.E.O. Employer. We encourage and actively solicit proposals from Disadvantaged Business Enterprises for all projects