Uber and Lyft crushed taxis—is the commercial parking industry next?

News Description: 

By Matthew Flamm and Daniel Geiger February 21, 2018

As head of Garage Management Co. for the past 30 years, Gordon Hamm has seen peaks and valleys in New York’s parking business. But he’s never seen anything like the past 18 months. Despite a healthy economy and record employment in a city that’s more crowded than ever, business at his company’s 57 garages is down across the board.—

And it’s not just Garage Management that’s suffering. Interviews with other parking industry leaders show a sector on the verge of a shakeup as operators struggle with rising labor costs and declining demand for a parking space for an evening, a day or just a couple of hours.

To read the rest of the article, visit: http://www.crainsnewyork.com/article/20180221/FEATURES/180219923/uber-an...

News Date: 
Feb 21




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