Allright operates more than 2,300 parking facilities containing nearly 600,000 spaces. Like Central, its portfolio of parking facilities includes owned, leased and managed properties. Current Central shareholders will own approximately 80 percent of Central's common stock, and current Allright shareholders will own approximately 20 percent of Central's common stock. The Relevant Product Market 10. The appropriate relevant product market in which to assess the likely anticompetitive effects of the proposed merger is the provision of off-street parking services.
Consumers drive their vehicles to the CBDs of cities for work, business, shopping or entertainment.
Off-street parking facilities are the primary type of location at which they may leave their vehicles while they are in the city. These parking facilities generally are open lots, free-standing garages, or parking garages located within commercial or residential buildings. Each defendant offers consumers off-street parking services at facilities that it owns, leases, or manages. When a defendant owns or leases a parking facility, it is the proprietor of the business and sets the conditions of operation, including prices. When a defendant manages a parking facility for an entity that owns the facility, the defendant recommends conditions of business operation, including prices.