Business travelers certainly know by now that their hotel rooms are costing more than they did a few years ago. Less noticed, though, is what's happened to hotel parking rates.
More hotels are charging for parking, and rates are rising sharply at hotels that do.
According to PKF Consulting, hotels that charged for parking over an eight-year period ended in 2006 saw their parking revenue rise 51%. Over the same period at those hotels, PFK says, average daily room rates rose 18%, and overall revenue rose 14%. PKF, an Atlanta-based research company, analyzed data from 383 hotels at the request of USA TODAY.
Though a higher volume of parked cars accounts for some of the revenue increase, PKF research director Robert Mandelbaum says the higher parking revenue means guests are paying higher rates.
Many major hotels say they have boosted their rates in recent months, and parking fees can add up to a big slice of a guest's bill.
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Source - USATODAY
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