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9 Table 2. Generic airport parking products and characteristics. Parking Operator Location Parking Customer Served Airport Private Terminal Airline Greeters and Transportation Parking Facility Operator Operator Area Remote Passengers Well-Wishers Employees Required 1 Short-Term or Hourly 1 2 Long-Term or Daily 1 Economy Privately Operated 3 3, 4 Valet 3 3 Premium Cell Phone Lot 2 Dedicated Employee 5 Employee Worksite Notes: 1 Employees are accommodated in public parking facilities at some airports. 2 Shuttle service or another form of conveyance may be required to transport airline passengers between parking and the terminal or to transport employees between parking and the worksite, depending on the distance. 3 Valet or premium parking products may be offered by a private off-airport parking provider. In these cases, the service would be offered in a remote location away from the terminal and would require parking customers to be transported between the facility and the terminal curbside. 4 A remote valet product is a variation of the traditional valet product. 5 Worksite parking may be operated under a lease to a tenant or tenants by the airport operator. Source: Ricondo & Associates, Inc., and DMR Consulting, October 2009. ience versus the cost of parking. Employees are typically "straddle the line" between close-in terminal area spaces and assigned to a facility based on their work location at the air- remote spaces that require a shuttle bus ride. Figure 1 illus- port (e.g., terminal area, service areas, cargo facilities). trates the typical parking products offered at airports, their rel- Transportation requirements--Table 2 notes if customers ative locations with respect to each other and the terminal of the parking product would require a shuttle bus system building, and the relative cost to the user. It should be noted or other form of conveyance to be transported between the that there are exceptions to this model. In this example, the parking facility and the airport destination. parking products are characterized as being terminal area park- ing, remote "on-airport" parking, and remote "off-airport" parking. The typical public parking products for accommo- Public Parking Products dating airline passengers and airport employees within this The airline passenger is typically offered a selection of pub- general framework are summarized in this section. lic parking products that vary in price according to the level of service offered by the product. The characteristics that affect Terminal Area Parking pricing typically include proximity to the terminal(s) and the services provided (e.g., valet parking, fixed-route shuttle buses, The terminal area parking supply is typically adjacent to or bumper-to-door shuttle service, reserved parking spaces, cov- within walking distance of the terminal building. The follow- ered parking spaces, level of security). Although all of these ing parking products form a subset of the parking options factors affect the desirability of a parking product, the pri- commonly offered by airport operators in the terminal area: mary factor affecting the desirability and resultant price of the product is the location of the parking facility relative to the Short-term parking, sometimes referred to as "hourly park- terminal(s). Those parking facilities located in close proxim- ing," is typically the most convenient parking option for ity to the terminal building are typically the most desired and walking to the terminal(s). This parking product is intended command a higher parking rate. However, the practical appli- to serve essentially all short-term parkers at the airport. In cation of this concept varies by airport. addition, short-term parking facilities typically serve some As discussed previously, public parking products at airports portion of long-term parkers who are willing to pay a higher are classified as either terminal area parking or remote parking. fee for the convenience offered by this product (i.e., proxim- However, in many cases, the definition can not be applied ity to the terminal[s] relative to other parking products). As strictly to a parking product given that many parking facilities shown in Figure 1, short-term parking is typically offered at

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10 Source: Ricondo & Associates, Inc., November 2009. Figure 1. Relative location and price of airport parking products. the highest daily rate, with the potential exception of valet term parking and are, therefore, intended to provide a more parking and other premium parking options. economical yet convenient option for airline passengers Long-term parking, sometimes referred to as "daily park- parking for the duration of their trips. ing," is a convenient option intended for long-term parkers. Valet parking is intended to provide a convenient option for Generally, this product is provided within the terminal area, airline passengers interested in parking their automobiles but farther from the terminal(s) than the short-term or at a location adjacent to the terminal that does not require hourly parking product. These facilities are usually located searching for a space. The valet stand is typically located at within a feasible walking distance to the terminal build- the terminal curbside or another area that offers the parking ing; however, at some airports, long-term or daily park- customer an easy walk to the terminal building. The valet ing facilities may also be served by shuttle buses or other operator may park the automobile in the immediate area or mechanical means of transport (e.g., moving sidewalks drive the automobile to a remote parking location. Typically, with covered walkways). These parking products are typ- valet parking is used by long-term parkers and, to a lesser ically offered at a lower daily cost compared with short- degree, by short-term parkers. A variation of the valet park-

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11 Examples of Premium Parking Products: Boston Logan, Seattle-Tacoma, and Tulsa International Airports Premium parking programs at Boston Logan, Seattle-Tacoma, and Tulsa International Airports provide guaranteed spaces for program participants, all with different program details. PASSport Gold at Boston Logan International Airport is a premium-parking program that guar- antees customers parking spaces in designated areas in the terminal area garages. In exchange for a guaranteed parking space, passengers pay a one-time enrollment fee, an annual fee, and a 21% premium over the daily rate in the terminal area. (1) The Passport Parking Program at Seattle-Tacoma International Airport is designed for frequent business travel- ers and offers guaranteed parking for members. The passes are sold for a monthly fee, which is equivalent to pay- ing for 14 days of parking at the daily rate for terminal area parking. This translates to a discounted daily rate of up to 55% if the pass is used every day. The pass is transferable among employees of a company, offering unlim- ited parking for one automobile at a time. (6) The VIP Monthly Parking Program at Tulsa International Airport offers some dedicated parking in the rental car ready/return area adjacent to the terminal. It offers guaranteed parking to customers who pay a monthly fee equivalent to the fee for parking for 30 days in the long-term parking facility adjacent to the terminal. (15) ing operation described, which is almost as convenient to the between the parking area and the terminal building is typi- customer, can be provided from a valet stand positioned cally not feasible (e.g., distance, walk time, or physical sepa- remotely from the terminal building. With this remote oper- ration from the terminal area due to walls or roadways). The ation, the valet attendant rides in the private automobile following subset of remote parking products may be offered with the customer to the terminal curbside, takes possession at an airport: of the car from the customer at the curbside, and then drives and parks the automobile at the valet storage facility. Economy parking is offered at a lower daily rate compared Premium parking is intended to provide a higher level of with the more convenient terminal area parking options. service to a specific group of customers willing to pay a higher The economy parking supply is intended to provide the most price for the convenience offered by the premium product. economical option for long-term parkers. Since this supply An airport operator may offer different types of premium is located at a relatively far distance from the terminal build- parking products. The products may be designed to guaran- ing, a shuttle bus or other form of conveyance is required to tee scarce spaces for time-sensitive customers, provide the transport customers between the parking facility and the ter- most convenient spaces for these customers, or both. These minal(s). Airline passengers parking in this type of facility premium services are typically provided to generate extra may choose to drop off the other members of their travel revenue for the airport, address an emerging customer need, party and baggage at the terminal before parking. Because of and compete with privately operated off-airport lots, among the extra time involved in traveling to the terminal compared other reasons. A range of pricing structures can be used, with close-in parking options, this product is not desirable including offering the product to the general public at a for short-term parkers. As shown on Figure 1, economy higher daily rate than the "nonpremium" products offered parking is generally the least expensive and least convenient at the airport, or offering a subscription service where park- on-airport parking option offered by the airport operator. ing customers (or their employers) are charged a one-time Privately operated off-airport parking facilities are oper- or recurring (monthly or annual) membership fee, in addi- ated by private entities and may or may not be considered as tion to (or in place of) an hourly or daily rate. competition to the on-airport public parking supply man- aged by the airport operator. These facilities are typically Remote Parking located off-airport and a shuttle bus is required to trans- port customers between the parking facility and the termi- Remote or "satellite" parking is typically located farther nal area; however, certain airport operators have developed from the terminal(s) than terminal area parking, and walking business arrangements with private companies to operate