Parking revenues in October spiked at Bob Hope Airport, hopefully a harbinger of better days ahead, officials said.
Parking revenue, the biggest source of operating income for the airport, grew from $1.67 million in September to $1.85 million in October, an increase of 11%, and 5% better than the same period last year, according to a report to the Burbank-Glendale-Pasadena Airport Authority.
While airport parking revenues have slightly exceeded budget expectations in eight of 10 months in 2010, October was the only month with a double-digit increase, generating more revenue than any other month of the year.
“In the month of October, we had a big spike in parking activity,” airport Executive Director Dan Feger told the authority at a meeting on Monday.
He added that he was “hopeful” that the uptick signals a return to discretionary spending on behalf of customers jetting to Las Vegas or other weekend getaways.
Airport spokesman Victor Gill said October has been a strong month for parking revenue in three of the past four years, as it includes a mixture of business and personal travelers.
While people traveling on holiday or for family reasons are likely to take a shuttle or catch a ride to the airport, Gill said, “business travelers are more likely to want the convenience of a car at the airport.”
Overall, parking revenues at Bob Hope Airport this calendar year have exceeded budget expectations by 4.5%
Despite the growth, parking revenues remain well below pre-recession performances. The October 2010 figure is 7% below the same month in 2008 and 21% below October 2007, when monthly parking revenue hit $2.35 million.
The last month to break $2 million in parking revenues was September 2008.
The airport announced separately that it is offering free shuttle service to and from the North Hollywood Metro Station. A three-month trial period began Monday, with the airport authority picking up the tab.
Passengers looking to board the shuttle at the North Hollywood station between 5:30 a.m. and 10 p.m. are advised to make advance reservations by calling (800) 224-7767. Passengers without reservations, or those seeking after-hours service, must call (818) 558-3179.
For rides from the airport to North Hollywood, passengers should go to the SuperShuttle curb outside the airport terminal.