New Parking Rates Go into Effect at RIC on July 1

First Across-the-Board Rate Increase in More Than 20 Years

New parking rates at Richmond International Airport (RIC) – the first across-the-board increases in 22 years – will go into effect on July 1, the beginning of the airport’s 2026 fiscal year.

In March, the Capital Region Airport Commission approved the increases, which will enable RIC to move forward with a comprehensive expansion plan to accommodate the region’s growing travel demand. The new rates are anticipated to generate an additional $6 million in yearly revenue and will help fund what is expected to be $132 million to $158 million in enhancements at RIC over the next five years.

Effective July 1, 2025: 

• Daily Parking will increase from $12 to $15 per day
• Economy Parking will go from $7 to $10 per day
• Hourly Parking (short-term meet and greet) will increase from $24 to $40 per day
• Valet Parking will go from $25 to $30 per day

“For years, our parking rates have trailed far behind our peers, and even with the changes, RIC still will be among the best regional deals for on-airport parking,” said Perry J. Miller, Ph.D., A.A.E., I.A.P., president and CEO of the Capital Region Airport Commission. “Revenue from parking generates more than 40% of the operating revenue at RIC, enabling the airport to embark on much-needed capital projects and cover day-to-day expenses such as maintenance, public safety, operations and administration.”

Miller noted that travelers should anticipate incremental increases in parking rates over the next few years. 

RIC serves more than 13,000 travelers daily and has seen passenger traffic increase 107% since 2002. With the Richmond region’s population continuing to grow and more nonstop flights being added to domestic and international destinations, RIC officials say expansion is essential to meet future demand over the next decade and beyond.

The Commission has approved plans that will significantly expand parking availability and improve the overall passenger experience, including a potential new parking garage that is still in the conceptual stage that will add 5,500 spaces to the airport’s current capacity of about 10,500 public parking spaces.

In addition, passengers can anticipate several new offerings designed to enhance passenger services:

• Consolidation of the TSA security screening checkpoints to a central location initially offering up to 10 screening lanes, increased space for customer amenities, and room for an airport lounge.
• Advanced parking guidance system to help locate open spaces as well as locate parked vehicles with improved license plate recognition technology.
• An online parking reservation system.
• Expanded rental car facilities, nearly tripling the current space allotted for parking and staging space.
• Possible relocations of ride-share, valet and employee parking areas.
• Upgrades to the North and South parking garages, originally built in 1995.
• Enhanced dynamic signage throughout the airport.
• New restaurants, including Hardywood Park Craft Brewery, Wolfgang Puck Bar & Bites, The Beet Box, and Homegrown Local Bar and Marketplace (Hardywood, The Beet Box, and Homegrown are all local concepts), are expected to be available within a year.

The improvements build on RIC’s recent growth trajectory. Since 2000, the airport has completed more than $500 million in infrastructure investments, including the expansion of its main parking garages in 2003 and 2010 and its Concourse A expansion during the pandemic that added six gates, bringing the total to 28.

“We’re experiencing unprecedented growth, and our existing parking facilities are regularly reaching 85% to 90% capacity,” Miller said. “These improvements will ensure we can continue providing excellent service to our passengers while supporting the economic growth of the Richmond region.”

About Richmond International Airport (RIC)

Richmond International Airport’s vision is to move people, business, and commerce to advance the Richmond region. Nine major passenger airlines and four dedicated cargo carriers offer domestic service from RIC with connecting options to points around the globe. According to the Commonwealth of Virginia, activities attributable to the Airport create nearly 16,000 jobs and contribute about $2.1 billion in annual economic activity to Virginia’s Capital Region. To learn more, please visit RIC on the web, X, Facebook, Instagram, Threads, or LinkedIn.

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Contact:

Troy M. Bell, C.M.

Director – Marketing & Air Service Development / PIO

tbell@flyrichmond.com