High-temperature thermal storage in a packed bed of rocks is considered for air-based concentrated solar power plants. The unsteady 1D two-phase energy conservation equations are formulated for combined convection and conduction heat transfer, and solved numerically for charging/discharging cycles. Validation is accomplished in a pilot-scale experimental setup with a packed bed of crushed steatite (magnesium silicate rock) at 800 K. A parameter study of the packed bed dimensions, fluid flow rate, particle diameter, and solid phase material was carried out to evaluate the charging/discharging characteristics, daily cyclic operation, overall thermal efficiency and capacity ratio.