Hyde Park Winter Wonderland 2025-2032

Description

The Royal Parks (TRP) has awarded a concession contract having carried out a tender exercise for the procurement of a contract in relation to Hyde Park Winter Wonderland. Lot 1: The Royal Parks Limited (TRP) has run a tender exercise for the annual Hyde Park Winter Wonderland event. Interested suppliers responded to the concession notice, and submitted a signed Non-Disclosure Agreement and Conflict of Interest Declaration to access the tender documents and participate in the opportunity. TRP considers that the procurement of the concession contract has been governed by Regulation 19 of, and Schedule 3 to, the Concession Contracts Regulations 2016 (as amended) (CCR) and that, as such, the usual five-year limit on contract duration (stipulated by Regulation 18, CCR) does not apply. In any event, TRP considers the proposed eight-year duration to be objectively justified by the scope and nature of the proposed concession contract, including the length of time which it expects will be necessary in order for the successful concessionaire to be able to recoup the investments needed to perform the concession, as well as to obtain a return on the invested capital.