I assumed the spacecraft parking lot is more like an airport or a hanger where you park planes. But as I read, I discovered it is not a physical location like an airport but it is more or less like an orbit parking. We might not be really familiar with some of these concepts, same with me, especially because we've not encountered it in person. But for someone who has been in space, this is like a usual thing.
Here is a piece I saw online that will be of help in understanding the concept:
A "spacecraft parking lot" refers to a parking orbit, a temporary, waiting orbit a spacecraft enters to prepare for a subsequent mission phase, such as reaching a final destination or completing scientific measurements. It's an alternative to a direct injection, where the spacecraft is sent directly to its final trajectory without any coasting time. Link
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