Revenue management in the parking industry: a multiple garage intelligent reservation model

Martha A. Roper, Konstantinos Triantis, G. Don Taylor and Dusan Teodorović

Transportation Planning and Technology, 2018, vol. 41, issue 3, 286-300

Abstract: This paper explores how advanced reservations, coupled with dynamic pricing (based on booking limits) can be used to maximize parking revenue. An integer programing formulation that maximizes parking revenue over a system of garages is presented. Furthermore, an intelligent parking reservation model is developed that uses an artificial neural network procedure for online reservation decision-making. Finally, the paper provides some strategic and managerial implications of multi-garage revenue management systems, and discusses techniques for identifying and implementing micro-market segmentation in the parking industry.

Date: 2018
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DOI: 10.1080/03081060.2018.1435449

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