Parking: revenues on the rise

Parking revenues grew by 23.1% between 2019 and 2023, according to a sample of real estate companies in the Trends® CBRE database for the hotel market segment, more than four times the growth rate of total hotel revenues over this period.

Not only is parking a growing source of income, it’s also highly profitable. In 2023, parking service profit margins for the CBRE sample represented 61.3% of total service sales, while the average profit margin for all other services operated in these hotels was 58.7%!

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