San Diego airport adds more parking spaces with three-level, high-tech garage
May 17, 2018Indect’s ultrasonic parking guidance technology, installed at a HEB grocery store in Houston, aids in curbside pick-up service. The system was installed by Parking Guidance Systems, LLC.
June 14, 2018The Time Has Come For Dynamic Parking Pricing
Parking is a vital revenue source for airports. On average, it’s the second biggest money-maker, trailing only gate fees; and at some airports, parking even surpasses gate fees. Yet, as important as parking is to the bottom line, most airports don’t earn nearly as much as they should.
The problem is that unlike other products and services, it has always been difficult to apply market-driven pricing to parking. Whereas, the price of such commodities as food, clothing, or even entertainment can be adjusted based on demand, cost and other market factors, the price of parking remains relatively static. Until recently, there hasn’t been a good way to constantly measure parking demand and adjust prices as demand rises and falls. The best airports have been able to do was to look at historical data to predict future behavior, and then set prices accordingly. Pricing is based on little more than guesswork, because no matter how much data you have about past parking demand, it’s impossible to know for certain how much demand there will be in the future.