Car-sharing service exceeds revenue projections at Palm Springs airport ⋆ The Palm Springs Post

Some of the cars that you may see in the parking lot at PSP are being rented out by locals. That business model has proven profitable for the city.

The Turo car-sharing service has far exceeded revenue projections in its first six months of operation at Palm Springs International Airport, generating nearly $600,000 for the airport since launching in December 2023.

Airport officials initially estimated the service would bring in about $300,000 for the entire year. However, Turo’s performance has been so strong that it’s on track to double that projection by year’s end.

“We’re really blowing it out of the water,” said Ethan Dunkle, a representative from Turo, during a presentation to the Palm Springs Airport Commission on July 10. “It’s a testament to your community and what they like and how they utilize the platform.”

Turo allows private vehicle owners to rent out their cars to travelers through a mobile app. The company has agreements with 130 airports across the country, including Palm Springs.

Since launching at the airport in December 2023, Turo has facilitated over 9,000 trips. That translates to an average of 35 to 40 vehicle exchanges per day at the airport.

Bookings through Turo have totaled 45,000 days so far, with an average rental period of five days. Dunkle said this suggests many users are booking for vacations or extended stays.

Under its agreement with the airport, Turo pays 10% of its gross revenue plus parking fees for vehicles stored at the airport. When factoring in parking charges, the effective revenue to the airport is 15-20% per booking.

The most popular vehicles rented through Turo at Palm Springs Airport are Teslas, Toyota Camrys, Toyota Siennas and Honda Pilots. However, the platform also offers exotic cars like Lamborghinis and McLarens.

Notably, 20% of Turo bookings at the airport are for hybrid or electric vehicles, exceeding the company’s nationwide average of 18%.

“It’s interesting and it just shows that your community is passionate about or utilizing these types of vehicles that are a little more green,” Dunkle told the commission.

Airport officials praised the new transportation option for diversifying choices for travelers while bringing in significant new revenue, with Commissioner Kevin Corcoran, concluding “This is really a lovely surprise.”

As the service continues to grow, airport officials said they will evaluate how to incorporate Turo into long-term facility planning, potentially including dedicated parking areas for high-end vehicles offered through the platform. Commissioners also discussed potentially promoting Turo more prominently on the airport’s website to further boost usage.