Shaun Keasey, who operates two nightclubs and two pubs in the city and is chair of Pubwatch, previously said many premises were “fuming” at the rise of up to £15 a day to park in the city centre and £6.40 for four hours.
But he said news of the reduction was a “positive move” that would help the later nightlife economy.
“Unfortunately, it will do very little for the day-time venues and shops,” he added.
“I hope to see this initiative widened and expanded to all council-operated car parks in the city centre.”
Councillor Chris Burden, cabinet member for city development, jobs and skills, said the change in parking prices came after engaging with businesses, workers and residents and he hoped local people would support “our fantastic night-time businesses”.
“It will help drive footfall during what is a challenging time and critical trading period for the hospitality sector,” he said.
A wider car parking strategy is yet to be developed, the council said, which will include a review of all car park uses and charges across the city centre.
