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| Company type | Subsidiary |
|---|---|
| Industry | Parking |
| Headquarters | 5905 Campus Road, |
Area served | Canada |
Key people | Carlo Marrello, CEO |
| Owner | CK Hutchison Holdings |
| Website | www |
Park'N Fly Airport Parking, also known asPark'N Fly, is a Canadianairport parking operator based inMississauga,Ontario.[1] It is the largest and only national operator for off-airport car parks inCanada.[2][3] Park'N Fly is currently owned byCK Hutchison Holdings, aconglomerate inHong Kong.[4][5]
Park'N Fly began its business operations in Canada.[2] It is the largest Canadian operator of off-airport car parks, providing 22,400 car parking spaces over 180 acres of land.[3][6]
In May 2014, Park'N Fly was acquired by two subsidiaries ofHutchison Whampoa.[7] Thejoint venture allocated ownership betweenCheung Kong Holdings andCheung Kong Infrastructure, both controlled by Hong Kong business magnateLi Ka-shing. As part of the agreement, each party holds a 50% interest in the assets of Park'N Fly.[8] This agreement also included thelicensing rights of its brand name toHalifax International Airport Authority, which started since 2005.[9] The transaction was estimated to be worth $397.5 million inCanadian currency ($366 million US).[10] Prior to the acquisition, Park'N Fly was previously owned by BRL Realty, RNE Realty and Park'N Fly Partnership.[11]
The acquisition was officially finalized in July 2014.[12][13] Subsequently, Carlo Marrello became the newCEO of Park'N Fly.[14][15]
Park'N Fly offers economy, self-park and valet parking services at seven major airports in Canada, including the cities ofVancouver,Edmonton,Winnipeg,Toronto,Ottawa,Montreal andHalifax. All parking locations are offsite and near the major international airports in Canada.[8][16]
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