RDU to implement demand-based, dynamic pricing technology to optimize capacity for 18,830 parking spaces
MINNEAPOLIS, MN—February 12, 2019—With passenger numbers exceeding 12.8 million in 2018, Raleigh-Durham International Airport (RDU) is the primary anchor for the popular Research Triangle destination of North Carolina. As the next step in its Parking Transformation Program, the Raleigh-Durham Airport Authority has partnered with IDeaS Revenue Solutions, the global leader in revenue management, to create a better parking experience and optimize space utilization.
The partnership aims to enhance RDU guests’ parking experience and returns from the airport’s 18,830 parking spaces—the largest source of revenue for the airport. IDeaS Car Park Revenue Management System (RMS) is a cloud-based forecasting and pricing solution that uses advanced SAS® analytics, artificial intelligence and deep machine-learning to deliver optimal demand-based, dynamic pricing decisions fueled by a 365-day future view of parking demand.
- Focus on passenger experience – RDU aims to further transform its customers’ parking experience by changing the dialogue around parking to one of added value, ease and economy. IDeaS Car Park RMS is a complement to the ParkRDU parking reservation system it soft-launched in mid-2018 and will enable RDU to sell the right product, to the right customer, at the right price, at the right time.
- Airport parking in a sharing economy – It’s no secret one of the biggest challenges facing airport parking—including at RDU—is competition. To effectively compete, RDU aims to address the experience, convenience and value of parking over other modes of transportation. It is seeking to be competitively affordable for ParkRDU consumers.
- A partner they can trust – Mindful of potential pitfalls when implementing new technology, RDU identified IDeaS Revenue Solutions as the right business partner because of its 30 years of revenue management experience—including an extensive list of airport parking clients—its industry-leading analytics and robust dynamic pricing tools, and its integrations with RDU’s other parking suppliers.
Michael Landguth, president and CEO of Raleigh-Durham Airport Authority, said: “IDeaS has the technology and expertise necessary to help us make informed decisions, shaping more effective marketing strategies, sales programs and overall airport parking revenue management. We are fortunate to have a renowned data-analytics partner right here in the Research Triangle.”
Guy Barnes, head of global sales, parking, IDeaS, said: “While the concept of demand-based dynamic pricing in the wider travel industry is not new, RDU is one of the first airports in the U.S. to further invest in its future by transforming its commercial strategy for parking. IDeaS is extremely excited to be a partner in its journey to drive new levels of revenue performance while continuing to improve customer experience.”
About IDeaS
IDeaS, a SAS company, is the world’s leading provider of revenue management software and services. With 30 years of expertise, IDeaS drives better revenue for more than 10,000 clients in 124 countries. Combining industry knowledge with innovative, data-analytics technology, IDeaS creates sophisticated yet simple ways to empower revenue leaders with precise, automated pricing decisions they can trust. Results delivered. Revenue transformed. Discover greater profitability at ideas.com.
About the Raleigh-Durham Airport Authority
The Raleigh-Durham Airport Authority operates Raleigh-Durham International Airport. In 2018, 12.8 million passengers, about 35,000 people per day, flew through RDU. With 66 nonstop destinations and 11 airlines, RDU connects central North Carolina to the people and places that matter most. RDU powers the region’s economy with an $12.6 billion annual economic impact supporting 5,000 on-campus and 86,000 regional jobs. RDU was named the best connected medium hub airport by the Massachusetts Institute of Technology’s International Center for Aviation in 2016 and 2017. Learn about the Airport Authority board, including its monthly meetings.