PARKING ANALYTICS:
In 2017 the International Parking Institute (IPI) launched an expanded initiative focused on parking analytics and benchmarking. Designed to advance the parking profession by collecting, aggregating, and publishing data, this series offers Key Performance Indicators (KPIs) for the industry. This is the third publication in the series, which will continue to evolve and capture KPIs.
Parking and transportation organizations are collecting and studying KPIs as a tool to more effectively manage limited resources. IPI is taking the next step to publish industry benchmarks and KPIs that can be used to evaluate and compare individual parking organizations with others in the industry. As the largest parking organization in the world, IPI is uniquely positioned to lead this research. This survey captured data from more than 2 million spaces, representing $2.64 billion in revenue.
This survey is a vital first step to collecting specific data on our members and our industry. Organization types surveyed included airport, college, corporate, event center, hospital, municipal, and transportation organizations. IPI expanded this survey in 2017 to include commercial operators, and consultants. IPI will take the research gained in this initiative and grow this series in successive surveys.
Read on to dig deeper into some industry data, and participate today!
IPI | Parking Analytics: An Industry Snapshot | May 2017 | 1
M A Y 2 0 1 7
Airport
Commercial Operator
Consultant
Transportation/Transit
Retail
Municipal/Government
Hospital/Healthcare
Events Center
Corporate
College/University
29.7%
26.5%
19.7%
6.8%
2.6%
0.6%
6.1%
3.5%
1.0%
3.5%
11,382
10,676
8,3603,500
9,249
6,864
6,145
$ $39.8M
$10.5M
$6.4M
$2.6M
$13.5M
$4.0M
$18.1M
Organization Type
Legend
Spaces byOrganization
Type
Total Revenue by Organization Type
Average Spaces byOrganization Type
Average Revenue byOrganization Type
31.7%
33.2%
5.6%
6.8%
22.4%
49.0%
29.1%
11.8%
3.3%
0.9%
0.8%
5.0%
SURVEY RESPONSES*
An Industry Snapshot
Spaces Surveyed:
2,024,987
$2.642 BillionIn Total Revenue
*Selected segments have been was omitted in some of the graphs due to insufficient data.IPI | Parking Analytics: An Industry Snapshot | May 2017 | 4
PA R K I N G A N A LY T I C S : An Industry Snapshot
For more information, search “Parking Research” in IPI’s online Resource Center at parking.org.
M A Y 2 0 1 7
Park Your Data HereOur members are the most vibrant and successful parking organizations across the globe. Add your data to the mix! To participate in our industry survey, visit parking.org/KPIs for a link to the survey, and look for the next publication in the series in fall 2017. n
Consultants responsesIPI added the design and consultant community to our survey to capture more detail about the state of the parking industry “under construction.” Consultants were asked how many projects were completed in 2015, 2016, and 2017, as well as details about those projects, including project cost and the number of spaces per project. 2017 numbers represent anticipated project completions. These questions addressed the number of construction projects completed or anticipated to be completed in 2017, as well as specific details about those projects.
It should be noted that this number of projects is not industry-wide; it is a snapshot of the responses we received in response to the survey from IPI members. It does however indicate the strength and the health of our industry and our membership as a whole. To add your projects and information to these responses, visit parking.org/kpis.
0 100 200 300 400 500 600 700
YEARConstruction Projects
Renovation Projects
Construction Projects
Renovation Projects
Construction Projects
Renovation Projects
Projects
2015
2016
2017
105
135496
614
555152
0 50K 100K 150K 200K 250K 300K
YEARNew Construction
Renovated
New Construction
Renovated
New Construction
Renovated
Parking Spaces
2015
2016
2017
77,902
112,061
146,744
241,650
280,900
304,440
0 $500M $1,000M $1,500M $2,000M $2,500M $3,000M
YEARNew Construction
Renovation
New Construction
Renovation
New Construction
Renovation
Construction Cost
2015
2016
2017
$1,325.1M
$1,946.7M
$2,785.7M
$198.7M
$208.7M
$163.5M
0 $10K $20K $30K $40K $50K
YEARNew Construction
Renovation
New Construction
Renovation
New Construction
Renovation
Cost per Space
2015
2016
2017
$19,995
$41,218
$22,871
$3,615
$3,458
$1,394
0 200 400 600 800 1000
YEARNew Construction
Renovated
New Construction
Renovated
New Construction
Renovated
Parking Spaces
2015
2016
2017
601.2
755.1
847.2
653.3
952.2
954.2
Number of Projects Completed Annually
Total Construction Cost
Average Construction Cost
Parking SpacesParking Spaces Constructed / Renovated Annually
Spaces per Project
CONSULTANTS SURVEY RESPONSES
IPI | Parking Analytics: An Industry Snapshot | May 2017 | 3
PA R K I N G A N A LY T I C S : An Industry Snapshot
M A Y 2 0 1 7
How we gathered this data Survey respondents answered a series of tailored questions designed to capture industry KPIs:
• Select the type of organization that most closely matches your parking operation.
• Approximately how many full-time equivalent (FTE) personnel work in your parking operation?
• Approximately how many total parking spaces do you own, operate, or directly manage?
• What was your annual gross parking revenue for parking operations?
• What is your anticipated annual gross
parking revenue for parking operations?
• Approximately how many total parking citations were issued in your parking operation?
How Commercial Operators figure in
In the expansion of the survey, IPI reached out to commercial operators to capture KPIs specific to that segment of our industry. The questions addressed the number of locations managed, full- and part-time employees, gross parking revenue, and spaces managed.
The vast number of spaces managed were operated on behalf of clients and other organizations.This means that for our initial survey of commercial operators, this number may contain overlap with the 2,024,987 spaces tallied by the survey of airport, college, corporate, event center, hospital, municipal, and transportation organizations. Commercial operators can add additional data to the mix at parking.org/kpis.
2016 Revenue per Full-Time Equivalent (FTE) Personnel
Citations per Space
Parking Spaces per FTE
Average Revenue per Space 0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500
Airport
College
Corporate
Hospitals/Healthcare
Municipal/Government
Retail
Commercial Operator
$2,703
$1,460
$1,492
$2,458
$750
$3,500
$595
0 100 200 300 400 500 600 700 800
Airport
College/University
Event Center
Hospitals/Healthcare
Municipal/Government
Transportation/Transit
Commercial Operators
313 118
217
464
268
709
215
Average Space per FTE
Revenue Per Space
14.23
College/University Municipal/Government
Ave
rag
e C
itat
ion
s p
er S
pac
e
0
5
10
15 16.01
1.97
$$100
$200
$300
$400
$500
Ave
rag
e R
even
ue
per
FTE
$186K
$96.5K
$317K $321K
$154K
$412K
SURVEY RESPONSES
OPERATORS SURVEY RESPONSES
2 | May 2017 | Parking Analytics: An Industry Snapshot
4,745 Parking Operations
Under Management
2.52 MillionCommerically Managed Spaces
17,439 Full-Time Staff
268.2Average Parking Spaces
per Staff
2,519,300 Parking Spaces Owned and/or Managed
1,455Average Parking Spaces per Location
9,750 Part-Time Staff
0 $500 $1,000 $1,500 $2,000 $2,500
2015
2016
2017
$1,957
$2,458
$2,437
Average Revenue per Space
$0.0
1.0
2.0
3.0
Full-Time
Staf
f
Part-Time
Revenue per SpaceStaff per Location
Airport
College/University
Corporate
Events
Hospital/Healthcare
Municipal/Government
Retail
Transportation/Transit
Commercial Operators
Legend