Car Rental revenue up after Uber and Lyft added

Date: 5 JAN 2018posted by Car Rentaledited by WinX

Uber and Lyft have recently been allowed to operate at St. Louis' Lambert International Airport and they have not affected the overall take from the other ground transportation operations. The two ride-hailing services have been operating at the airport for three full months now. In fact, since allowing the ride-hailing services to operate, the airport has seen overall revenue derived from parking lots and garages, car rental services, and taxi operations increase by about one percent over the same period in 2016. The airport saw an additional $12.1 million from the ground transportation services, only $12 million a year earlier. However, that is not to say the ride-hailing services has not changed the landscape. While the parking revenue increased by 0.4 percent and car rental revenue by 7.2 percent, the airport saw a decline from the shared-use vans that shuttle travelers to hotels and other locations feel by 15.3 percent. Taxis felt the brunt of the invasion of the ride-hailing services most seeing their services drop by almost 20 percent. The airport's total taxi take was only down by a lesser amount, mostly in part due to the number of cabs which pay a separate monthly permit fee remained stable. But if the demand for taxis continue to decline, there may be less taxis operating out of the airport in the future. The taxi industry around the world has seen their business decline at all locations where the ride-hailing app-based businesses have been allowed to operate. Uber and Lyft began their operations in late August under new permit and fee arrangements negotiated with St.Louis city officials. A nationwide report by the National Academy of Sciences found that the decline in taxi and shuttle use at airports appears to accelerate over time. It stated "changing passenger mode choice from taxis, shared-ride vans and private vehicles" to ride-hailing firms are resulting in airport staff having to renegotiate concessions agreements with affected services.

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