Revenue management software and services provider IDeaS Revenue Solutions is to implement its parking lot revenue management system (CPRMS) at Bristol Airport in the UK.
Bristol, in southwest England, handled more than 8.9 million passengers in 2019 and the CPRS will optimize over 17,000 parking spaces.
To keep pace with changes in mobility and meet consumer expectations, the airport is investing in data analytics to provide personalized products and maintain a positive parking experience. While Bristol considered business intelligence platforms that could be used to look backward and assess what could have been done differently, it chose IDeaS’ predictive analytics and machine learning, in order to benefit from a 365-day-a-year forecast that would ensure optimal use of all parking inventory.
As the airport’s pricing strategy has become more granular, traditional methods and spreadsheets have become too complicated for human analysis alone. An automated solution such as that provided by IDeaS will also provide a safety net to protect the business in the event of staff turnover.
Tom Hack, head of commercial, Bristol Airport, said, “IDeaS understands our business and has demonstrated global success in airport parking. With our drivers at the steering wheel, IDeaS is the analytics engine that will enable us to be more effective with our parking inventory and overall revenue strategy.”
Guy Barnes, head of global sales, parking, IDeaS, said, “More than providing a means to optimize space capacity, IDeaS’ solution will enable Bristol to protect its important commercial asset, while grasping new opportunities and being able to better solve increasingly complex parking business challenges. As one the UK’s fastest growing airports, we are excited to play a key role in Bristol’s future successes.”
IDeaS, an SAS company, delivers revenue knowledge and technology to more than 13,000 clients in 140 countries.