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

Mark Friesen and Giuliano Mingardo
Additional contact information
Mark Friesen: QUINTA Consulting, D-60323 Frankfurt, Germany
Giuliano Mingardo: Erasmus Centre for Urban, Port and Transport Economics, Erasmus University Rotterdam, 3062PA Rotterdam, The Netherlands

Sustainability, 2020, vol. 12, issue 7, 1-11

Abstract: 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.

Keywords: parking; revenue management; dynamic pricing; road map (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://www.mdpi.com/2071-1050/12/7/2732/pdf (application/pdf)
https://www.mdpi.com/2071-1050/12/7/2732/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:12:y:2020:i:7:p:2732-:d:339412

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().