NANTES ATLANTIQUE AIRPORT IMPLEMENTS K-YIELD, THE KOWEE YIELD MANAGEMENT CAR PARK SOLUTION, TO PROPOSE NEW SERVICES TO ITS CUTOMERS AS WELL AS TO OPTIMIZE ITS REVENUES.
Often close to 40% of the total income of an airport, non-aviation revenues (as retail, car parks, real estate, car rental, etc.) are gaining more and more importance for many airports, becoming a priority in terms of strategic development. Very often, the car parks of an airport can be a strong leverage for revenue growth when applying proper revenue optimization techniques.
This is well understood by Nantes Atlantique Airport which recently (May 2016) implemented K-Yield, the Yield Management solution developed by Kowee for the car park sector.
Completed with Kowee business intelligence solution (K-Analytics) as well Kowee price simulator tool (K-Pricing, a pricing simulation tool dedicated to turn-ups as well as pre-booked vehicles), K-Yield engine dynamically proposes an “optimal price” at the booking step; note that the optimized price is a function of both the forecasted number of other entries of vehicles at the same periods of stay and of their relative economic interests compared the requested booking (the engine clearly responds to questions like: « Is it better to favor short-stay or long-stay demands for the requested days? » « What is the optimal combination of lengths of stay for the parking considering the forecasts as well as what is already booked or present in the park? », etc.).
With a dozen car parks and about 8,000 places, Nantes Atlantique Airport took this opportunity to offer new services to its customers through the launch of a true e-commerce solution (a Rezcomm solution, a customer-focused car park booking solution) on top ot the Kowee yield engine.
At the end of the day, the final customer takes a benefit as this combination of e-commerce / yield solutions always gives him the best parking solution with the highest possible discount (compared to the price charged in case of no reservation) as well as numerous services value added services (valet, laundry, fast track, vouchers, etc. all services proposed when booking the stay). The airport also benefits from the solution as its unique core optimization engine finds the best combination of occupation in terms of lengths of stay, and therefore only proposes preferential conditions to those demands that contribute the best to the overall revenue
This project, conducted in 2 to 3 months by Nantes Atlantique Airport led to the introduction of new services for its customers as well as the design of highly responsive pricing strategies, all this being done with the mindset of customers’ satisfaction!