There's money in hotel parking

Parking fees are an additional revenue source for hotels, particularly those in urban locations that may not own garages and for those offering valet services

Not every hotel takes the same approach. Strategies depend on the market and whether the hotel owns the parking lot or garage it uses. For hotels that do charge for parking, the way they set rates has changed in recent years, but it's still about finding that sweet spot.

Key takeaways

• The typical urban, convention and business hotel that offers valet services or self-parking is going to charge, and guests expect that;
• However that's different if the hotel owns the parking lot. There comes a point when guests get upset when they find out the $200-a-night room they booked is actually $240 because of a parking fee that wasn’t disclosed or was hidden in the fine print;
• As EVs grow in popularity in the U.S., hotels controlling charging services will need to evolve as well and bill guests for EV charging as the number of electric vehicles is increasing every year.

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