A company or entity that is granted the rights and responsibilities to operate and manage a parking facility or parking services on behalf of a property owner or governing authority. The concessionaire is typically responsible for the day-to-day operations, maintenance, and revenue generation of the parking facility. When a parking concession is awarded to a company, it involves a contractual agreement between the concessionaire and the property owner or authority granting the concession. The terms of the agreement may include the duration of the concession, the scope of services to be provided, financial arrangements, and any specific performance requirements.