It’s not just airlines that are interested in mergers and acquisitions these days; the trend has spread off the tarmac and into the parking lot with two major U.S. operators in the ‘near-airport’ parking field combining.
In case that’s not a familiar term, it’s those lots, big or small, that cluster on the outskirts of major airports, offering cheap or at least cheaper than airport price parking, usually with a shuttle to get customers to and from the terminals.
In this case, Parking Spot, recognizable by its spotted vans, is taking over the first operator in the field, Park ‘n’ Fly. Parking Spot, after adding Park ‘n’ Fly’s 13 locations, will now operate 47 facilities at 28 airports, either as owner or operator for other owners. The combined company is owned by an investment fund, Green Courte Partners.
Part of the value of Park ‘n’ Fly, aside from its name and facilities, is its search engine and reservation system that handles reservations for other near-airport parking companies as well.
