There are two separate services that you need for a functioning website - a domain and a hosting plan for it. Each time you type the domain name in your browser, you see the content that’s uploaded in the hosting account, but if that Internet domain isn't linked to such an account or to an email service, it's parked. In other words, the Internet domain is registered and you are its owner, but it lacks content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it can be forwarded to some other URL of your choice. The main benefit of parking a domain is that you can keep it and make certain that nobody else is going to take it. In the meantime, it's not going to block a slot for a hosted domain within your account. You could also park domains if you have a .com, for instance, and you register domain addresses with other extensions such as .net, .org or country-code ones to direct them to the main web site so as to protect a brand name.