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Daily Price for Downtown Space Rises,


But Monthly Premium Continues Decline from Page 32


rebound in hiring. These rate trends reflect the mixed messages of an economy in the midst of a recovery.” The NPA parking survey also found significant differences


in the cost of parking from city to city. These differences were also seen when looking at rates based on city size. For example,


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downtown parkers in Boston paid a maximum daily self-park rate of $33 and valet rate of $43, while drivers in Portland pay a max daily rate as high as $32 for self-park. In Canada, Toronto, for example, has similar maximum rates, as drivers typically pay a daily rate as high as $25 for self-park. However, looking at smaller cities such Missouri City, TX, (pop. 75,000) shows daily parking rates as low as $3. The recession’s impact has varied across sectors, with airport


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n-site operators fairing the best with 50% reporting increased revenues, consistent with increasing demand for air travel. On-street CBD parking also fared well, with 46% reporting greater revenue, and only 19% experiencing decreases. Hospital parking facilities continue to be impacted by the


economy, with only 31% reporting revenue increases and 22% reporting decreases. Conversely, more than 40% of college and university, hotel, and valet operators reported increases above 40%, while showing some decreased revenue. “While the data provided through this survey point in several directions, there is cause for optimism,” Banning said. “Nearly two-thirds of all parking operators see revenue stabilizing or increasing over the past year. “I’m confident that the growth in the travel and hospitality sectors signals increasing consumer demand,” Banning said, “and recent job reports indicate a slowly improving employment outlook that bodes well for gains in parking demand throughout North America.” “Parking in America” includes data from 47 U.S. states and


91 cities in the U.S. and Canada. Participants own or operate more than 28,000 parking facilities, with more than 10.7 million parking spaces.


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The National Parking Association is an international network of thousands of parking industry leaders and professionals. The NPA states that its mission is to serve as a resource to the parking industry and its members by offering access to quality education, networking opportunities, advocacy, products and services. Survey results can be found online on the NPA website at www.npapark.org/research.


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