"Richmond, Va., Airport Ends Parking Company's Lease"

Saturday, November 2, 2002

Richmond, Va., Airport Ends Parking Company's Lease
The Richmond Times-Dispatch, Va.


A Park 'N Go ad near Richmond's airport will have to up and go. 

The reason: Park 'N Go, which has undercut parking prices at Richmond
International, has been advertising on airport property. 

"The airport owns the structure and they're terminating our lease," said
John Bona, CEO of the Lynchburg-based parking company. 

The yearlong lease expires next month, airport officials confirmed. But
they said it was a routine matter not aimed at Park 'N Go. 

Located at the intersection of Airport Drive and Williamsburg Road, the
well-positioned sign advises drivers to make a U-turn and drive back to
Park 'N Go for $5.99 a day parking. 

At that price, Park 'N Go offers parking for 1 cent less than the
cheapest airport parking. It also offers customized shuttle service not
available at airport lots. 

The year-old service has cut into one of the airport's prime revenue
generators. 

Airport marketing director Troy Bell said he probably will use the
billboard to promote Richmond International. 

"This isn't pointed at Park 'N Go," Bell said. "That's just a sign on
our property."

Bona said the billboard has helped travelers find their way to his
business on Audubon Drive. 

Bona said he has managed to keep his 750-space lot about 70 percent full
despite the lag in air travel since he opened last fall. 

The airport's lots had average occupancy in the "mid-60s," Bell said,
with higher rates on peak travel days. 

Parking typically generates the most income of all sources for the
airport, with revenue of $868,072 in September alone. 

Even with the competition, the airport always gets the last laugh: It
charges a $2.50 fee every time a Park 'N Go shuttle stops at the
terminal to pick up passengers.


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