The Challenge
Ownership of two significant airport hotels in a bustling metropolitan area recognized the untapped potential of utilizing paid parking to cater to transient hotel parkers and generate ancillary revenue. They were in search of a solution to efficiently capture and optimize revenue from these parking assets. One of the challenges they encountered was the stringent and costly process enforced by the city's airport authority for zoning, requirements, and approvals to charge for non-hotel guest parking. Given the considerable investment and effort required to secure these rights, it was crucial to fully leverage this opportunity. Their aims were to:
- Leverage their parking assets to generate new profit and augment asset value.
- Utilize a parking solution with an easy implementation model to minimize hotel staff management of parking while keeping costs down without large equipment investment or staff.
- Stay ahead in the competitive hotel landscape by offering guests and travelers a convenient and seamless parking experience, that is ticketless, gateless, and contactless.
The Solution
The hotel ownership observed some competitors in the market using Towne Park’s gateless, digital self-parking solution, T-Park, and inquired about the opportunity for their portfolio. They liked what they saw with T-Park, as it offered integrated data and analytics, a suite of revenue optimization tools, and PMS integration which creates a seamless payment experience for overnight hotel guests.
Once implemented, T-Park delivered immediate operational enhancements, elevating the parking experience. The outcome was parking revenue generation enabled by a responsive pricing strategy that captured optimal revenue in real-time. Towne Park’s revenue optimization and management tools could easily be scaled across portfolios to generate parking revenue with substantial impact.
The hotels implemented several key features that together helped them meet their objectives:
- T-Park Gateless, Digital Parking and Revenue Management Solution: An easy-to-use system tailored for revenue capture that helps hotels control, manage, and increase parking revenue while providing a simple and easy parking experience.
- T-Park’s PMS Integration: Allows seamless payment direct to the guest’s folio, enhancing customer experience and simplifying hotel revenue reconciliation.
- Rate Optimization: Worked with the Towne Park client success team to develop pricing strategies and market-driven competitive rates to help utilize spaces and maximize revenue.
- Dedicated Partnership & Support: With Towne Park's parking management expertise and around-the-clock call center support they had the right team to help them get the most out of their parking operations.
"At Towne Park, we didn't just provide a parking solution; we crafted and executed a strategic asset optimization plan in partnership with the hotel to significantly boost their revenue. Witnessing the success, we're now in discussions to implement T-Park and other Towne Park solutions across more hotels in their portfolio."
Joshua Miller
Senior Vice President, Revenue Optimization
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