UK. IDeaS Revenue Solutions has agreed a contract with Bristol Airport to implement its Car Park Revenue Management System (CPRMS). It said the system will help to optimise income across more than 17,000 parking spaces on the airport’s land.
The revenue management software and services specialist said the new system will enable predictive analytics and machine learning to provide a 365-day forecast that ensures optimal use of the airport’s parking inventory. It added that data analytics from the CPRMS will provide car park users with personalised products.
IDeaS’ assessment of the airport’s previous pricing strategy showed that it had become increasingly granular, with traditional methods and spreadsheets that had become too complicated for human analysis alone. It said that the use of its automated solution will mitigate risk and provide a safety net to protect the business in the event of staff turnover.
Bristol Airport Head of Commercial Tom Hack 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.”
IDeaS Revenue Solutions Head of Global Sales Guy Barnes said: “I am thrilled Bristol Airport has placed its confidence in partnering with IDeaS. More than providing a means to optimise space capacity, IDeaS’ solution will enable BRS to protect its important commercial asset, whilst 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.”
