Synthesis of Information Related to Airport Practices. Topic S01-25. Airport Parking Pricing Strategies

Parking facilities are one of the most significant non-aeronautical revenue contributors to airport finances. However, airports vary significantly from each other in terms of revenue collected through operating parking facilities. A quick review of the top 10 business airports in the U.S. (as measured by total enplaned passengers) identified that parking revenue ranged from $36.6 million to $190 million in 2018. Parking revenues are not specifically tied to airport annual enplanements but are determined by many complex factors. Balancing optimal utilization of parking resources and generation of airport revenue increases benefits to the traveling public and other community stakeholders. This study aims to understand the factors affecting airport parking pricing decisions and to assist airports and their vendors in evaluating their circumstances when reviewing parking pricing decisions. Despite many inquiries focusing on either urban and airport parking, no readily available resource exists for airport operators to answer questions such as "What factors are important and effect the rate that I should charge for my airport parking?" or "What factors should be considered when analyzing change from flat rate pricing to variable pricing?" Airport authorities would benefit from a compilation of airport parking pricing practices around the U.S. The objective of this synthesis is to compile practices in airport parking pricing to better understand factors that airport managers use in setting parking rates. The audience for this synthesis is airport managers responsible for managing competing goals and setting airport parking pricing policy. The following tasks and resulting information will be described in a concise report: Review existing literature and Collect parking and financial data on airports (NPIAS Primary Hub-large, medium, small, nonhub) that currently charge for parking. The scope of data collection includes airport parking rates, operational and financial statistics, geographic characteristics, availability and strength of parking competition, existing modes of access accommodated at the airport, and choice economic indicators of the markets served: (1) Summarize the data to enable effective interpretation of data for potential users of this synthesis study. (2) Array data considering factors such as geography/region/climate, size of metropolitan area and number of airports serving the catchment area, number of on- and off-airport parking spaces, amenities and location versus occupancy, competition from off-airport parking operators and other ground access modes, airport revenue needs/goals, and other parameters deemed of importance. (3) Describe the relationships between parking pricing, revenues and components to parking pricing. (4) Provide case examples from interview of at least five airports that highlight a range of practices for understanding the components that airports deem important in setting parking pricing to achieve goals. (5) Describe further research from gaps identified in the research.

• Record URL:
  http://apps.trb.org/cmsfeed/TRBNetProjectDisplay.asp?ProjectID=4905

Language

• English

Project

• Status: Active
• Funding: $45000
• Contract Numbers:

  Project 11-03, Topic S01-25

• Sponsor Organizations:

  Airport Cooperative Research Program

  Transportation Research Board
  500 Fifth Street, NW
  Washington, DC    20001

  Federal Aviation Administration

  800 Independence Avenue, SW
  Washington, DC  United States  20591
• Project Managers:

  Staba, Gail

• Performing Organizations:

  InterVistas

  Washington, DC  United States 
• Principal Investigators:

  Mandle, Peter

• Start Date: 20201001
• Expected Completion Date: 0
• Actual Completion Date: 0

Subject/Index Terms

• TRT Terms: Airports; Decision making; Literature reviews; Optimization; Parking; Parking facilities; Parking fees; Policy; Pricing
• Subject Areas: Administration and Management; Aviation; Finance; Operations and Traffic Management; Policy; Terminals and Facilities;

Filing Info

• Accession Number: 01723643
• Record Type: Research project
• Source Agency: Transportation Research Board
• Contract Numbers: Project 11-03, Topic S01-25
• Files: TRB, RiP
• Created Date: Nov 25 2019 3:12PM