Holiday season, match days, concerts, festivals… There are plenty of reasons why car park owners see a spike in visitors across certain times of the year. If you fail to monitor these spikes, your car park could quickly become inundated with vehicles. Read on to learn more about seasonality and peak periods of a car park or car parking space.
Car Park Peak Period
Car park peak periods are the hours where a car park is likely to be the busiest. A car parking space can be priced differently depending on a number of different variables and factors - whether it's a weekday, weekend, as well as the amount of time the vehicle is likely to be parked in the spot. Mapping out demand patterns allows car park operators to introduce varied pricing in the form of ‘peak’ and ‘off peak’ periods that suit the area that the car park is located in best.
During the week in areas where there are a lot of businesses, car park operators may choose to market car parking spaces at a higher price point between the standard working hours of around 8am-6pm. After 6pm and weekends may be classed as ‘off peak’. However, if a car park is located in a busy shopping centre area with lots of leisure activities nearby, car park operators may choose to have weekends as their ‘peak periods’.
At YourParkingSpace, we pride ourselves on working with car park operators to produce a dynamic pricing strategy to maximise revenue and make the best of their parking facility capacity. Drivers can benefit from low prices at times of low demand. We can also help car park operators increase their car park’s earning power - through the use of yield management (selling the right product, at the right time, to the right customer). As well as assessing demand patterns over time - this will allow car park operators to see how their variable price strategy is working for their car park, ensuring that the correct pricing bracket is in place.