Increasing Revenue How could hourly parking and/or an online reservation system increase revenue? Automated Parking Facilities •
Charge visitors for the duration of their parking (time elapsed between vehicle entry and exit) – Historical information on this is not available, as permit sales do not indicate length of parking stays
Possible Rate Structures/Increases • •
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$1.50 per hour – Same rate currently charged at meters $1 per ½ hour up to 2 hours, $1 per hour thereafter – More revenue from short term parking visitors – Net revenue increase dependent on turnover rates and customer volume, as current short term visitors held to $6 minimum for a half day permit Increase daily maximum, which is currently $10 Create an evening parking rate
Online Reservation System •
Convenience fee charged for each reservation – Possibly dependent on stall quantity, lot demand, early or late notice, etc