Airports around the world are using their parking data and predictive analytics to grow non-aeronautical revenue and provide a better passenger experience. These trendsetters have embraced the current disruption in technology and mobility by applying demand-based, dynamic pricing to pre-booked parking with significant, year-over-year revenue growth.
IDeaS will be showcasing its Car Park Revenue Management System (CPRMS) – a cloud-based data analytics, forecasting and pricing solution. The system collects historical and real-time transactional data, shops online competitor prices, and utilizes predictive analytics, machine learning and artificial intelligence to deliver optimal, demand-based, dynamic pricing decisions directly to the airport’s online sales channels. While travelers receive discounts for advanced purchase and peace of mind that a parking space in their preferred terminal location will be waiting for them upon arrival, the airport receives accurate demand forecasts, the ability to optimize space utilization and maximized revenue per available space.
With major airports like Sydney, Auckland, Montreal and London Heathrow having demonstrated success with the revenue management system, IDeaS recently announced that Zurich Airport is one of the latest to implement the software to automate optimized pricing decisions for its 15,000 public parking spaces. According to Ronny Grau, parking and mobility director, Zurich Airport, “We are confident that investing in more sophisticated technology will drive better revenues by forecasting and optimizing demand across our car parks in a way we never could before.”