Nashville International Airport parking rates will increase by $2 beginning on March 1.
The funds will be used to pay for rising maintenance, operations and expansion costs, airport officials said. It’s the third fee increase in the past three years due to high inflation and construction costs.
Economy-lot rates, which were $15 in 2021, will increase from $16 to $18 per 24-hour block.
Covered lots facing the terminal will increase to $28 and valet parking will be $38 a day. Airport officials said the prices are still competitive with other regional airports, and they have little competition with off-airport lots.
The fee increases come as the airport’s list of renovations continues to grow with passenger rates rising faster than aggressive projections.
The airport anticipates growing from 18.4 million passengers in the fiscal year ending June 30, 2022, to 21 million on June 30, 2023.
In January, BNA’s new terminal debuted its Grand Lobby as part of a $1.4 billion renovation project that will be complete later this year. A new international-arrivals terminal, shopping and dining center, on-site hotel and a satellite terminal will be revealed in September.
A third parking garage will also open later this year, completing the terminal-parking expansion project.
A second phase of construction costing more than $1 billion is also underway.
Airlines continue to increase service from Nashville, and the airport is courting more nonstop international destinations.
This month, WestJet announced nonstop service to Vancouver in May − giving Nashville nonstop access to Canada’s top-five markets for the first time.
The airport is largely privately funded with parking, concessions and airline service fees. Standard & Poor’s recently upgraded BNA’s long-term credit rating from AA- to A+, reflecting BNA’s strong financial management.
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