Sydney Airport has once again claimed the crown for Australia's largest car parking profiteer, according to the latest report from the Australian Competition and Consumer Commission.
The ACCC's annual report on our four major airports found that Sydney Airport outstripped Melbourne, Brisbane and Perth with a 73.1% profit margin on car parking spots – in other words, the airport pocketed 73.1 cents out of every dollar of revenue earned from parking.
Total car parking revenue shot up to $134 million, just a measly million shy of Melbourne's $135 million revenue bankrolled by bitumen.
And with Sydney recording a 3.2% revenue increase against Melbourne's 1.2% revenue drop, Sydney is on track to roar into first place next year.
Another take-out from the ACCC's slice-and-dice of the numbers: Sydney Airport earns an average of $8,395 per parking space, also a lift of 6.9% over the previous year.
By comparison, Melbourne, Brisbane and Perth all saw a drop in per-space revenue (with Brisbane now at $6,042, Melbourne at $5,226 and Perth at $2,792).
Despite the rise in revenue and profits, ACCC chairman Rod Sims says there is clear evidence that travellers are increasingly taking advantage of discounts for online bookings, especially on long-term parking.
"In comparison, those who do not pre-book must pay drive-up prices which can be double that of online prices," Sims said.
Sydney Airport reported that almost 40 per cent of its carpark revenue came from those cut-rate online bookings.