AMFAC Hotels & Resorts, Inc. v. State, Department of Transportation & Public Facilities

OPINION

MATTHEWS, Justice.

This appeal arises from an action brought by AMFAC Hotels and Resorts, Inc. (“AM-FAC”) to reform a contract for concession rights to Anchorage International Airport.1

In 1953, the United States government and Northwest Airlines, Inc., AMFAC’s predecessor in interest, executed an agreement granting Northwest the exclusive right to sell food and beverages in the airport terminal building for a period of ten years. In 1961, the State2 and Northwest amended the agreement to give Northwest first refusal rights to all new operations *1191and extended the term of the agreement to…