Q-Park Bolsters European Presence with Strategic Acquisition in Cologne
In a strategic expansion within Europe, Q-Park has taken over management of the “Barthonia Forum” parking facility in Cologne-Ehrenfeld starting May 1, 2024. This move places Q-Park in direct competition with major industry players like APCOA, Interparking, and Indigo Group.
The underground facility, prominently located in a bustling retail area, offers 1,043 parking spaces. With a competitive pricing strategy, Q-Park has set the parking rate at €2.00 per hour with a daily maximum of €29.00. To mark its new management, Q-Park is offering free parking from May 1 to May 6, 2024, and continues to grant Kaufland customers two hours of free parking.
Considering a 76% occupation rate, this facility is projected to generate an impressive annual income of approximately €5.35 million. This estimation is based on a mix of daily and hourly rates and reflects the potential profitability of this strategic location.
This acquisition not only increases Q-Park’s footprint but also showcases its commitment to offering cost-effective parking solutions in Europe’s urban landscapes.
Q-Park expands its operations in Cologne. 🅿#parkingmanagement #parkingsolutions #parkingoperatorhttps://t.co/GtPHi8s9EZ
— Parking Network (@ParkingNetwork_) April 17, 2024
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