PDF Source: www.lek.com
Tags: Airport Parking
Share this info:
Download PDF File Take Charge: Shift an Airport’s Parking Strategy into High Gear, including aeronautical revenues. However, many airport management teams tend not to focus on parking
A S S O C I AT E S ‘ C O R N E R
Take Charge: Shift an Airport’s Parking Strategy into High Gear
A LT H O U G H PA R K I N G R E C E I P T S often represent more
than half of non-aeronautical proceeds at North American airports, this important asset is often overlooked as a driver for revenue growth. Airports have the ability to influence parking revenues more than any other income stream during the next few years, including aeronautical revenues. However, many airport management teams tend not to focus on parking operations because they feel that additional revenue opportunities are limited to rate increases, which airport stakeholders are traditionally reticent to support due to concern over a public backlash. That is a mistake. Airports that fail to capitalize on their parking assets risk alienating customers, missing revenue opportunities and ceding market share to private operators. A sound parking strategy is built on a clear understanding of the diverse customer segments, market opportunities, and the factors that influence supply and demand.