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Assessment of Different Parking Pricing Strategies: A Simulation-based Analysis
Article

Is Parking in Europe Ready for Dynamic Pricing? A Reality Check for the Private Sector

1
QUINTA Consulting, D-60323 Frankfurt, Germany
2
Erasmus Centre for Urban, Port and Transport Economics, Erasmus University Rotterdam, 3062PA Rotterdam, The Netherlands
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(7), 2732; https://doi.org/10.3390/su12072732
Received: 27 January 2020 / Revised: 16 March 2020 / Accepted: 26 March 2020 / Published: 31 March 2020
(This article belongs to the Special Issue Vehicle Parking and Sustainability)
Both Revenue Management (RM) and Dynamic Pricing (DP) are common practices in many industries—e.g., airlines and hotels—but they are still relatively unknown in the parking sector. In Europe, with the exception of for airport parking and in some pilot tests, DP is rarely used by private parking operators or local authorities. The main objective of this conceptual paper is to set an agenda for introducing DP in the private parking sector at a larger scale. After a short review of the existing academic and gray literature, we describe the requirements and instruments that parking companies need to make use of RM. Next, we shortly report on the major existing and/or planned DP parking schemes in Europe. We continue by providing a comprehensive reality check discussing the major challenges the sector faces to apply DP. We conclude by suggesting a road map for private parking operators to successfully implement RM and DP. Finally, we give some indications for future research. View Full-Text
Keywords: parking; revenue management; dynamic pricing; road map parking; revenue management; dynamic pricing; road map
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MDPI and ACS Style

Friesen, M.; Mingardo, G. Is Parking in Europe Ready for Dynamic Pricing? A Reality Check for the Private Sector. Sustainability 2020, 12, 2732. https://doi.org/10.3390/su12072732

AMA Style

Friesen M, Mingardo G. Is Parking in Europe Ready for Dynamic Pricing? A Reality Check for the Private Sector. Sustainability. 2020; 12(7):2732. https://doi.org/10.3390/su12072732

Chicago/Turabian Style

Friesen, Mark, and Giuliano Mingardo. 2020. "Is Parking in Europe Ready for Dynamic Pricing? A Reality Check for the Private Sector" Sustainability 12, no. 7: 2732. https://doi.org/10.3390/su12072732

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