Yes, Uber Really Is Killing the Parking Business

Yes, Uber Really Is Killing the Parking Business

Ride-hailing companies like Uber and Lyft are reducing the need for parking, which negatively affects parking companies but is otherwise beneficial for cities.

Key findings

Ace Parking has seen decreasing demand in San Diego, with parking dropping 5-10% at hotels, 25% for restaurant valet, and 50% for nightclub valet.

“Parking spaces and lots generate relatively little tax revenue or economic activity relative to commercial operations, and by increasing sprawl may actually harm the economy of cities like Los Angeles.”

New developments such as a new Major League Soccer stadium in Miami may include no new parking at all, but will include pickup and dropoff zones for ride-hailing services.

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