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

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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.

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“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.”

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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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