Standard Parking Case Studies


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Standard Parking Case Studies

  1. 1. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK 1 5 t h a n d Tr e m o n t — D e n v e r Fax: 312-640-8210 R a te A n a l y s i s , Au to m a t i o n B o o s t R e ve n u e s , I m p rove S e r v i c eThe Situation. The 15th and Tremont garage is a Brookfield Properties 12-story parkingfacility in downtown Denver that offers both monthly and visitor parking. A comprehen-sive review of garage operations indicated that the facility could benefit from the installa-tion of auto-cashier equipment to reduce operating expenses. The implementation plan,however, had to ensure that changes would not adversely impact the 1,100 monthlyparkers and 280 daily transient parkers.Equipment Installed. Standard Parking promptly arranged for the installation of the appropriate cashier stations andtoken dispensing machines in the elevator lobby, allowing for the exclusive use of automated cashiering in all but thebusiest four hours of the day. Parking Rates Reviewed and Revised. Standard Parking found—based upon an analy- sis of transient parking tickets and customer parking habits—that incremental parking rates, although common in the area, were not revenue enhancers. Standard Parking rec- ommended the conversion of the ½-hour incremental rates to a flat fee-per-day rate. The result: a 48% increase in transient revenues in the first year, without a rate increase! Costs Reduced, Revenue Increased. As a result of our initiatives, labor costs dropped more than $16,000 a year and transient revenue increased nearly $100,000 a year. This was achieved with a capital expenditure of only $46,500 for the cashier stations, resulting in a full return on investment for the client in less than one year. The results are another Excellence in example of how Standard Parking uses its expertise to enhance the value of a parking Execution property in a highly-competitive central business district. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  2. 2. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Fax: 312-640-8210 10 5 5 W . 7 t h S t r e e t — L o s A n g e l e s S e l f - Pa rk , C a s h i e rl e s s O p e ra t i o n s C o n t ro l S t a ff i n g C o s t sThe Situation. The parking facility for this Class-A office building in downtown Los Angeleswas incurring unusually high operating costs, due mainly to its labor-intensive valet andcashier parking procedures. The facility was designed to use single-space parking stalls aswell as tandem parking stalls that accommodate two vehicles parked one behind the other.Standard Parking was asked to review parking facility procedures and the labor costs associ-ated with the tandem stalls, and offer recommendations to reduce operating costs.Single Park Stalls Replaced Tandem Stalls. Although tandem stalls do maximize spaceutilization, they also can result in a labor intensive parking operation because valet atten-dants are required to assist customers by moving the front tandem vehicle in order to allowthe second vehicle to exit. Because this parking facility had ample parking capacity to accommodate demand withoutthe use of tandem spaces, Standard Parking chained off the tandem stalls to effectively convert them into singlespaces. This eliminated several full-time parking attendant positions. Paystation Eliminated Need for Cashiers. The parking facility had been using two cashier booths staffed by three full-time employees. Standard Parking recommended eliminating cashiering hours through automation of the facility. An automated pay station was installed in the parking lobby, where visitors now pay their parking fees. Labor Reductions, Automation Helped Contain Costs. The labor savings realized by removing the tandem parking stalls and automating the facility saved the client nearly $180,000 per year in operating costs. The facility, previously staffed with ten employees, Excellence in now operates with a manager and a maintenance employee, without a negative impact Execution on customer service. Creative, cost-savings suggestions such as these exemplify how Standard Parking helps it clients enhance the value of their parking services. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  3. 3. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Fax: 312-640-8210 1125 Seventeenth Street— Denver H e av y B a n k Tra ff i c a C h a l l e n ge to Pa rk i n g Au to m a t i o nThe Situation. Downtown Denver’s 1125 Seventeenth Street is a Class-A office buildingcontaining a multi-level underground parking facility with 445 spaces. Ownership requiredfull implementation of parking equipment automation but was wary of customer serviceimplications given that one of the building’s major tenants – a large bank – had many cus-tomers visiting throughout the day. Standard Parking met the challenge by implementing amulti-faceted plan to maintain high customer service levels throughout an equipment instal-lation and transition process.Communications, Training Crucial for Success. The Standard Parking management teamconducted individual tenant meetings to explain the parking equipment changes, demon-strate how the equipment worked and walk through the new validation controls and howthey would help tenants reduce their validation costs. A parking ambassador was hired to assist customers at the pay-in-lane exit machine, which smoothed the transition and allowed for a quicker implementation of staffing changes. Effective Signage. New signs displayed on the exit equipment and throughout the park-“Standard Parking has been ing facility significantly enhanced equipment usability. Standard Parking worked with creative and responsive to building management and its design consultant to develop a way-finding signage package resolving our operational that appropriately coordinated the building’s existing theme with the parking facility’s challenges and has provided a professional level identification system. management team approach that I have not Automation Sparked Service, NOI Improvements. The automation resulted in more seen with other parking effective revenue controls, as a result of which the number of unaccounted for tickets operators.” was significantly reduced and lost tickets virtually eliminated. By accepting credit cards for payment, we reduced parker exit times. Most importantly, Net Operating Income in- Mindi J. Romoff, RPA creased by 16% over the previous year. Automation was just one more parking enhance- General Manager ment at the facility that has produced seven straight years of improved NOI. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  4. 4. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Fax: 312-640-8210 11 6 01 W i l s h i r e — L o s A n g e l e s S e g re ga t i n g Ve h i c l e R e t ri e va l Po i n t s E l i m i n a te s C o n ge s t i o nThe Situation. The Wachovia Center, a Class-A office building located on the prestig-ious west side of Los Angeles, contains 1,000 parking spaces used by retail and com-mercial real estate companies, financial institutions, professional services firms and agym. Poor customer service, traffic delays and high operating expenses plagued thefacility for many years, which prompted ownership to bring in Standard Parking’s teamto evaluate facility operating plans and recommend improvements.Valet Program Backed Up Traffic at Entrance. The building’s parker profile rangedfrom short-term parking customers of the bank to longer-term, high-profile visitors ofthe professional and financial services firms. All visitors used the same entry lanes asthe building’s monthly parkers, and valet parking drop-off points hindered other carsfrom entering, causing long lines and much congestion. The extra personnel needed toaddress the frequent bottlenecks increased parking facility labor costs. Single Vehicle Retrieval Point Eliminated. Standard Parking eliminated the valet pro- gram and instead directed customers to self-park spaces, a tandem-assist area or bank customer self-park spaces. Parkers now retrieve their vehicles from separate, discrete locations. Standard Parking also moved the central pay point from the parking facility to the building lobby to further reduce customer congestion. Having eliminated traffic con- gestion on the main drive, traffic now flows smoothly to the various parking levels. Service Up, Labor Costs Down. Making the facility easier to use led to a notable im- provement in visitor and monthly parker opinions of the parking facility. Moreover, elimi- Excellence in nating the valet program saved $72,000 a year in labor costs. Standard Parking’s creative Execution evaluation of parking operations and procedures again proved that a well conceived revi- sion to an operating plan can be a valuable asset in enhancing overall property value. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  5. 5. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 B u f fa l o N i a g a r a Phone: 888-700-PARK Fax: 312-640-8210 I n te rn a t i o n a l A i rp o rt B u s y A i r Trave l S e a s o n s R e q u i re C re a t i ve Pa rk i n g S o l u t i o n sThe Situation. At the Buffalo Niagara International Airport,like many other airports across the country, access to on-siteshort-term and long-term parking lots can be severely strainedduring peak travel seasons. Airport officials in Buffalo, antici-pating a holiday week spike of almost 20% in average dailypassenger count and not wanting to tell travelers to find alter-native ways of getting to the airport, called on Standard Parking to creatively address the temporary parking spaceshortage.Temporary Expansion of Shuttle Capabilities. Having determined that the best short-term fix was to temporarilyexpand shuttle bus capabilities, the airport located eight small, temporary parking areas within three miles of the air-port, and asked Standard Parking to direct customers to these lots and shuttle them to the terminals. Standard Park-ing immediately rented two 12-passenger vans and deployed two 14-passenger shuttle buses from its operations inanother state. Tapping Additional Managers and Drivers. Two out-of-state Standard Parking man- gers and four shuttle bus drivers were quickly dispatched to the airport. The additional staff stayed in Buffalo over the four day weekend holiday to direct traffic, drive shuttles and provide additional resources and support for the on-site parking team. Swift Action = High Marks for the Airport. Due to the efforts of Standard Parking’s on-site team, airport travelers were able to avoid unnecessary taxi rides and inconven- iences and, most importantly, were able to catch their planes on time, while the airport Excellence in was able to avoid directing parkers to non-airport lots. Standard Parking again demon- Execution strated that key people and planning are critical components of successful airport park- ing management. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  6. 6. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Fax: 312-640-8210 Boston Medical Center C h a n ge s to D ri ve way D ro p - O ff P ro c e d u re s I m p rove d Va l e t S e r v i c eThe Situation. Boston Medical Center, located in the historic South End ofBoston, provides over 3,000 parking spaces in two garages for patients, visitors,faculty, employees, staff and students. Valet parking also is available for pa-tients and visitors. Because many valet customers are critical care patients, theability to quickly enter and exit the Center is essential to their care. When theprior parking operator failed to adequately address customer complaints aboutlong wait times for valet-parked vehicles, the Center turned to Standard Parkingbecause of its broad experience in handling these issues for hospitals.Clearing the Way for Valet Parkers. We identified poor traffic control in a driveway as the root cause of the prob-lem – shuttle buses and cars were dropping off passengers even though doing so completed blocked traffic. Wechanged procedures by proactively greeting drivers and directing traffic through the driveway, and, working with BMCdepartments and the shuttle bus and ambulance companies, moving drop-off points to less congested driveway areasin order to keep one traffic lane open at all times. Valet Wait Times Drop to Under Five Minutes. The effects were dramatic – valet re- trieval times were reduced from an average of 20 minutes to less than five, and improved efficiency and controls at the two valet stations resulted in revenue increases of 31% and 103%, respectively. Parking as Amenity and Revenue Source. Hospitals and medical centers often view parking as more of an amenity than a revenue source, but our success at BMC indicates that both goals often can be met simultaneously. Our management of traffic flow elimi- Excellence in nated customer service complaints and enhanced valet parking as an amenity, while Execution more rigorous controls resulted in more revenue. This two-pronged impact allows Stan- dard Parking to keep medical facilities ahead of the curve. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  7. 7. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK C r e s c e n t R e a l E s t a t e — Au s t i n Fax: 312-640-8210 E q u i p m e n t , S e a m l e s s l y I n te g ra te d , G e n e ra te d $ 1 M i l l i o n i n N e w R e ve n u eThe Situation. Crescent Real Estate Equities owned four Class-A office buildingsin downtown Austin, Texas. Faced with a tightening parking market, revenueneeded to be increased without negatively affecting customer service in thehighly competitive CBD parking market. Crescent called on Standard Parking toimplement enhanced revenue controls and devise an improved utilization plan forthe properties’ 3,500 parking spaces.Integrated Access and Exit Equipment. Standard Parking managed the installa-tion of new equipment and technology to control inventory, maximize parking space oversell and improve the function-ality and profitability of the parking assets. The new system fully integrated all access and exit equipment with both“read” and “write” capabilities to encode tickets. We synchronized the equipment installation with other improve-ments, and by purging the card inventory and utilizing new data to analyze parking facility traffic, we were able to addmore vehicles while maintaining inventory for existing customers. Staged Implementation Made Transition Seamless. Standard Parking assumed the role of Project Manager for the equipment upgrade, and had lane equipment staged dur- “Standard Parking has ing the week and installed at night and on the weekends. All systems were run in parallel provided great service to until a new access card was delivered to each contract customer. Instructions on card me and my team, I highly usage were reinforced with a personal greeting and an offer of assistance at entrancesrecommend their service.” during the first week of the transition. Thomas J. Petrie Vice President / General Over $1 Million in New Revenue Generated. As a result of the upgrades, the four fa- Manager cilities generated over $1 million in new revenue. Adoption of electronically encoded pre- paid validation tickets eliminated validation fraud. Our understanding of and expertise with new technology make us the clear choice for enhanced revenue generation. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  8. 8. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK DST Realty—Kansas City Fax: 312-640-8210 M a n a ge m e n t O ve r s i g h t , Au d i t i n g G e n e ra te R e ve n u e I m p rove m e n t sThe Situation. DST Realty, a major facilities management and development firmin Kansas City, Missouri, is responsible for a portfolio of 29 parking facilities con-taining over 10,000 spaces. In 2004, Standard Parking was asked to manage theportfolio because the prior operator was unable to adequately control revenues andexpenses, offer enhanced customer services or submit monthly statements in atimely manner.Hands-On Approach Enhances Revenue. Standard Parking quickly assessed the performance issues and installednew revenue monitors including key card auditing, cashier lane controls and new facility operating hours during specialevents. We also provided our client with access to our Client Viewsm electronic financial reporting system so that ourclient had easy, quick online access to its monthly operating statements. Overhauling Facility Appearance and Services. To control expenses and enhance facil- ity aesthetics, Standard Parking implemented in-house snow plowing, power washing and “Standard Parking’s power sweeping services. When teamed with new customer care services such as battery proactive approach to jump starts, vehicle location reminders and windshield washing stations, DST Realty re- managing our parking ported a noticeable jump in customer service ratings.facilities has resulted ina significant increase in Revenue Posted an 11% Gain. Standard Parking’s revenue and auditing programs, ex-our parking revenues aswell as better customer pense containment policies and enhanced financial reporting capabilities led to a $700,000 service” improvement in parking-related revenue. We are committed to helping DST Reality expand its presence in the Kansas City area. Vincent P. Dasta President, DST Realty Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  9. 9. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Equity Office Properties – Phone: 888-700-PARK Fax: 312-640-8210 Los Angeles M u l t i - P ro p e rt y “ G re e n” A p p ro a ch to M a i n te n a n c e H a s C l i e n t A p p e a lThe Situation. Over 20 Equity Office Properties Class-A office locations in the LosAngeles area were utilizing different maintenance contractors to handle pressure wash-ing and dry-sweeping services. These contractors were not following “green” prac-tices, which prompted EOP to turn to SP Plus® Maintenance, a service line of StandardParking, to provide environmentally-friendly pressure washing and dry sweeping ser-vices on a consolidated basis.Synergies of Parking and Maintenance Services. Standing Parking, as the parkingoperator for EOP’s Los Angeles properties, used its parking team as a bridge to en-hanced maintenance services. We added value by coordinating service dates for drysweeping and setting dates for pressure washing consistent with budgetary timelines.We also were able to offer expanded maintenance liability insurance coverage. Water Reclamation and Safe Detergents. SP Plus® Maintenance’s pressure washing techniques not only ensure water reclamation – in itself a sound business practice – but also helped EOP score LEED points for one of its buildings. The water is reclaimed and filtered, thus capturing pollutants and using less water. Moreover, the citrus-based deter- gent used by SP Plus® Maintenance does not emit any noxious odors. Saving Money and the Environment. SP Plus® Maintenance was able to reduce EOP’s annual maintenance costs and enhance the value of the EOP properties, all with a keen eye on environmental protection. Our pressure washing charges for the EOP portfolio represented a 17% discount from market rates, and our charges for dry sweeping pro- Excellence in vided EOP with a 10% savings compared to its previous vendor. This concern for our Execution clients’ pocketbooks and reputations – as well as for the environment – is yet another example of how Standard Parking goes the extra value-added mile. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  10. 10. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Georgetown University Phone: 888-700-PARK Fax: 312-640-8210 Hospital I s s u a n c e o f N e w Pa rk i n g Ac c e s s C a rd s E n h a n c e s R e ve n u eThe Situation. Georgetown University Hospital is one of the largest healthcaredelivery networks in the area, consistently ranked among the best in the nationby U.S. News and World Report. However, parking availability is at a premiumgiven the hospital’s urban and campus location. The hospital needed to elimi-nate the constant competition for parking spaces among faculty, staff, students,medical center employees, patients and visitors. That’s when Standard Parkingcame aboard as the parking operator.Clearing Up Access Card Problems. Standard Parking quickly identified the problem: a parking access card distribu-tion system that was not being effectively monitored. We immediately issued new access cards only to authorizedemployees and deactivated more than 8,000 unauthorized cards. With this control in place, the hospital eliminatedlabor costs incurred to stack park up to 200 vehicles a day, increased parking availability and enhanced revenue. Immediate Revenue Growth. Revenue controls put in place by Standard Parking, par- ticularly in the areas of accounting and cash handling, led to immediate increases in reve- nue from both employee and public parking. During the first year under Standard Park- ing’s watch, hospital parking revenue jumped 85%. Higher Revenues Allowed for Reduction in Permit Fees. The hospital was able to translate the parking revenue increase into a 20% permit fee reduction for employees. The unwavering focus on auditing and parking revenue controls is an added value that Standard Parking brings to its clients. Excellence in Execution Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  11. 11. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK G r a n d H y a t t N e w Yo r k Fax: 312-640-8210 H i g h Pe r fo rm a n c e Va l e t s C u t Ve h i c l e R e t ri e va l T i m e sThe Situation. The Grand Hyatt New York, one of the crown jewels of theHyatt hotel chain, offers valet parking to its guests. Consistent with the hotel’sstature, the valet parking operator must offer — at all times and under all condi-tions — prompt and impeccable customer service. When wait times for cus-tomer vehicles became excessive (running on average over 20 minutes), thehotel replaced its operator with Standard Parking.Vehicle Wait Times Cut in Half. Standard Parking quickly evaluated the traffic circulation pattern and vehicle retrievalprocedures and found that inefficient routes were being used and valets lacked adequate training. By mandating theuse of more direct routes and implementing comprehensive valet training programs, Standard Parking was cut vehicleretrieval times in half! Theft and Damage Claims Also Reduced. During the former parking operator’s ten- ure, hotel guests frequently reported items missing from their cars. Proper valet screening and strict enforcement of Standard Parking’s ten-point Valet Code of Conduct virtually eliminated theft and related problems. Valet performance was also enhanced through implementation of a training program tailored to the hotel’s specific parking valet environment. Better Service Without Higher Parking Fees. Standard Parking implemented the cus- Excellence in tomer service improvements sought by the hotel without raising parking fees. The pro- fessional appearance of the valets and fastidious attention to details like key handling Execution procedures and ticket stub placements reinforced the Grand Hyatt’s confidence in Stan- dard Parking’s valet parking services. Prompt and attentive customer service is a cor- nerstone of Standard Parking’s commitment to its valet parking clients. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  12. 12. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Hamilton Health Sciences Phone: 888-700-PARK Fax: 312-640-8210 a n d S t . J o s e p h’s H e a l t h c a r e R e m o te M o n i to ri n g , C e n t ra l i ze d O p e ra t i o n s H e l d D ow n E x p e n s e sThe Situation. Hamilton Health Sciences and St. Joseph’s Healthcare areamong Canadas largest multi-site hospitals, serving more than 2.3 million resi-dents of Hamilton, Central South and Central West Ontario. Like many otherhealthcare institutions facing budget shortfalls, these organizations looked toStandard Parking to find innovative ways to reduce costs without having a nega-tive impact on services.Centralizing Operations Hold Down Costs. Standard Parking recommended centralizing the administrative proc-esses for parking operations across Hamilton, with all revenue control functionality and reporting performed online.Installation of the centralized system now allows Standard Parking to monitor equipment and perform other tasks at allsix locations via CCTV, Intercom and revenue control systems. The centralization of auditing and accounts receivablesin one office significantly reduces on-site management costs and allows for more efficient operations. “Standard Parking leaders Maintaining Quality Customer Service. All sites have customer service representa- were very knowledgeable in tives during regular business hours. During off-peak hours, intercom and CCTV monitor- recommending technology ing across Hamilton is transferred to one central office, eliminating the need for over- to support change, implementing processes to night Customer Service Representatives at other sites while maintaining timely re- effectively manage the sponses to customer service inquiries. change and in completing evaluation metrics at each phase of work.” Expense Reductions. The centralization of the operations has produced a reduction in annual wage costs to Hamilton Health Sciences and St Joseph’s Healthcare of Shelley Moneta, MBA $320,000. Remote monitoring systems and consolidation reflect the proactive actions Director, Integrated taken by Standard Parking to increase efficiency and hold down costs at multi-facility Corporate Services parking locations. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  13. 13. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Hyatt Regency Columbus Fax: 312-640-8210 Ac c e s s to N e a r by G a ra ge E a s e s H o te l Pa rk i n g C ru n chThe Situation. Located adjacent to the Greater Columbus ConventionCenter, this 631-room convention hotel is within blocks of the statecapital, corporate office plazas and Nationwide Arena, and near PortColumbus International Airport and Ohio State University. The hotel’sbustling surroundings and limited guest parking capacity prompted thehotel to seek out Standard Parking for, among other things, overflowparking solutions and creative new ideas.Access to Self-Park Garage. Standard Parking quickly partnered with the owner of a nearby self-park garage to sig-nificantly increase parking availability of parking for the hotel at significantly reduced rates. This decreased the hotel’sparking expenses by nearly 30% per space while increasing occupancies and net cash flow for the garage owner. Providing Guests with a Self-Park Option. An added benefit of the new parking ar- rangement was to make a self-park option available to hotel guests. Guests can charge “We look forward to a their parking fees to their rooms, with complimentary in/out privileges and accessibility to continued positive and and from the hotel via an enclosed and covered walkway professional workingrelationship in our efforts to enhance, even further, the Enhancements Translated into Profits. Through these enhancements, Standard Park- service we provide everyHyatt and Standard Parking ing improved the hotel’s parking profitability by over 46% after the first year and demon- customer.” strated the tangible benefits that a premier and pro-active parking management company can bring to the table. Tim Dant, GM Hyatt Regency Columbus Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  14. 14. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Kansas City Phone: 888-700-PARK Fax: 312-640-8210 I n te rn a t i o n a l A i rp o rt R o b u s t A i rp o rt s R e q u i re To p - F l i g h t R e ve n u e C o n t ro l sThe Situation. Kansas City International Airport’s parking facilities include three ga-rages, four large surface lots and a valet-style shuttle lot comprised of over 24,000 park-ing spaces. Because the prior operator’s revenue control and staffing procedures wereinadequate for an operation of this size, competing off-airport parking operations weretaking away significant amounts of business from KCI. Standard Parking was asked tooversee necessary revenue control, financial reporting and customer service upgrades.Better Audits and Revenue Control Reporting. Standard Parking established the po-sition of Revenue Control System Administrator to oversee financial reporting and infor-mation systems, and put in place structured requirements for internal shift audits and reporting. A cash drop systemwas created, as were improved security methods for cash counting and depositing of daily receipts. These proceduresvirtually eliminated the penalties for poor revenue control performance routinely assessed against the prior parkingoperation. The timely reports now available provide a clear audit trail and detailed accounting of revenues and activity. Addressing Competition By Off-Airport Facilities. Standard Parking implemented a multi-phased marketing program to promote on-airport parking. The program started with a customer sweepstakes to create excitement and awareness, and that program in turn generated a parker database upon which a frequent parker loyalty program was built. That program now has over 18,000 members. A valet-style parking facility was success- fully opened in a location formerly operated by an off-airport competitor. Operational Quality Noticeably Improved. Increasing supervisory coverage and train- ing programs contributed to measurable customer service improvements. Standard Park- Excellence in ing’s assumption of facility maintenance and management of certain large subcontracts Execution allowed the airport to more efficiently allocate airport staff. These are the types of proac- tive initiatives that make Standard Parking the national leader in airport parking services. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  15. 15. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK M a c y ’s P l a z a — L o s A n g e l e s Fax: 312-640-8210 P ro p e rt y Va l u e R i s e s Fo l l ow i n g Au to m a t i o n , S i g n a ge I m p rove m e n t sThe Situation. Macys Plaza (one of downtown LA’s two largest shopping centers),a Sheraton hotel and an office building, are all served by a nine–level, 2,000 spacegarage. The parking facility accommodates over 500,000 vehicles per year and duringthe holidays handles 4,000 vehicles a day, with a 2x turnover rate for each parkingstall. Because the owners were considering selling the property, they wanted to re-duce operating expenses and improve parking cash flowPay Stations, Signage Promptly Installed. Standard Parking coordinated the selection, purchase and installation ofa pay-on-foot system, always making sure that parking customers were comfortable with the conversion from manualto automated operation. Enhanced signage was also installed to help the retail shoppers, health club members, hotelbanquet guests, office workers and other customers navigate through the facility. The equipment installation wascompleted on time, within budget and without adversely affecting customer service. Expenses Reduced, Revenues Increased. As a result of Standard Parking’s initiatives, annual payroll and fringe benefit costs were reduced by more than $125,000, and the average rate per ticket rose from $4.43 to $5.63. An added bonus was a reduction in exit lane transaction times, from an average of 21 seconds to an average of 7 seconds. Parking Improvements Helped Enhance Property Value. The property owners sold their newly-improved asset 15 months later. The parking operation’s improved cash flow played an important role in generating an enhanced return on their investment. Excellence in Execution Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  16. 16. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Fax: 312-640-8210 Navy Pier—Chicago Pa rk i n g Pay S t a t i o n s Ke e p Tra ff i c M ov i n g a n d G a ra ge s Ac c e s s i b l eThe Situation. Located on the shores of Lake Michigan just east of Chicago’sdowntown, Navy Pier is one of the countrys most unique recreation and expositionfacilities. With more than 8.6 million visitors a year, Navy Pier’s on-site parking ga-rages (1,600 spaces) were often taxed to the limit, slowing down entrance to thegarages and clogging drive lanes around the facilities. Excess congestion also led tounacceptable staffing levels.Parking Pay Stations Improved Service. Standard Parking reviewed the situationwith the client and recommended installation of automated parking equipment anda flat-rate pricing structure. We supervised the installation of the pay stations at various locations throughout NavyPier, which allowed visitors to pay for parking in advance, any time during their visit to the Pier. The new equipmentresulted in better customer service, a reduction in multiple cashier shifts and overnight staff, and improved reporting. Automation Also Benefits Employees. Simultaneous with the automated system for guests, Standard Parking implemented an automated system for Navy Pier employees. Those with identification badges issued by Navy Pier can access one of three pay stations to add value directly to their cards, and also can use the badges as access credentials. The system can provide discounted rates and complimentary parking as part of an em- ployee recognition program. Helping Keep a Tourist Destination #1. Navy Pier is a unique destination, showcasing amusement rides, restaurants, exhibitions, entertainment venues, shopping, dining cruises and tour boats. The parking system that supports these activities must accom- Excellence in modate all types of facility users and their associated traffic patterns. Standard Parking Execution met the challenge with its automation expertise and flat-rate pricing, helping Navy Pier maintain its position as the number one tourist and leisure destination in the Midwest. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  17. 17. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK One Nashville Place Fax: 312-640-8210 Tra n s i e n t Pa rk i n g , B e tte r S e r v i c e P ro d u c e d Q u i ck R e ve n u e H i keThe Situation. One Nashville Place is a 25-story office building with a 532-spaceself-park facility, located one-half block from the hub of Nashville’s Central BusinessDistrict The parking facility’s net operating income and facility expansion targetswere not being met by the parking operator, and customer service was perceived aspoor. The property owner selected Standard Parking to overhaul parking operationsconsistent with the expectations for this Class-A office building.Finding New Sources of Revenue. Standard Parking quickly honed in on untapped sources of new transient revenuefrom special events in the area. On weekends, for example, we started staffing the back entrance of the parking facil-ity to tap into local club activity. Prior to scheduled football games at nearby Adelphia Coliseum, we opened the park-ing facility earlier than our competitors, gaining additional parkers as a result. To increase transient revenue, we elimi-nated the “monthly only” sign that had deterred potential parkers in the morning. Tackling Customer Service Issues and Aesthetics. We addressed substandard cus- tomer service practices by implementing a targeted Three Keys to Customer Satisfaction training program that emphasized facility and employee appearance, constructive cus- tomer relations and positive resolution of customer concerns. New signage and graphics were installed in the garage, painting projects were started and new procedures were adopted to eliminate incorrect billings and timely process parker account changes. Betters Operations Translated into 14% More Revenue. After only a few months un- der our management, the parking facility posted a 14% increase in revenue and a 9% decrease in expenses, allowing Standard Parking to jump-start the necessary training, Excellence in signage and painting projects. Our ability to work with a property manager, understand Execution how the parking facility fits into the property’s bigger picture and deliver on a realistic budget are characteristics that earn our clients’ trust. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  18. 18. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Regency Garage—Houston Fax: 312-640-8210 R e p l a c i n g O u t d a te d Sy s te m s I m p rove s O p e ra t i o n a l R e p o rt i n gThe Situation. The Regency Garage is one of Houston’s largest and most complex park-ing facilities, spanning 14 levels served by two circular ramps, with each level pricedbased on its location within the garage. The facility is located in the heart of the centralbusiness district and provides access to the city’s tunnel system and the Regency HyattHotel. The owner of the facility, CenterPoint Energy, sought out Standard Parking to maxi-mize revenues and enhance service levels provided by the previous parking operator.Better Operational Reports. Because the facility was not generating the types of re-ports necessary to property manage operations, Standard Parking conducted a revenueand access control system audit. The audit revealed that the reporting deficiencies werecaused by an outdated operating system. Standard Parking arranged for the installation ofnecessary system upgrades at a reasonable cost. Enhancing Occupancy and Aesthetics. Standard Parking also audited the garage and “We have been very relocated customers to appropriate levels, calculating the potential oversell for each pleased with our level. A successful marketing program increased occupancies to an average 8% over- decision to change to sell. In addition, Standard Parking tightened revenue control procedures to better handle Standard Parking. They the cash generated from visitor and hotel parkers. To improve energy efficiency, a com- are pro- actively plete lighting retrofit replaced the existing fixtures. managing our asset.” Improved Revenues. In less than a year after assuming responsibility for the parking Jeff Stones operations, Standard Parking’s superior revenue control, financial reporting, expense con- CenterPoint Energy tainment and pro-active management programs increased revenue 24%. Facilities Management Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  19. 19. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Sinai Hospital of Baltimore Fax: 312-640-8210 C o n t ro l s o n Fre e Pa rk i n g I m p rove d H o s p i t a l ’s F i n a n c e sThe Situation. Sinai Hospital of Baltimore, a major provider of health and health-relatedservices in the Baltimore metropolitan area, offers parking for patients, visitors and guests.The hospital was aware that its parking operation was losing money and that it needed toenhance revenue through a reduction in discounted and free parking being provided, but atthe same time recognized that it needed to do so without upsetting hospital users.Setting Targets for Complimentary Parking. Standard Parking was brought in to addressthe problem and found that the posted-rate parking fees were being collected only 20% ofthe time, and that the remaining tickets were either being validated or waived for variousreasons. We recommended adoption of a free parking target limit of 20%, which wouldaccommodate the legitimate special situational needs of the hospital’s patients. Multi-faceted Approach to Replace Free Parking. Working with the hospital, Stan- dard Parking adopted a phased approach to eliminate free parking, which included sub- stituting value coupons for selected patrons instead of free parking. In addition, a re- view of validation entitlement provisions in medical office building leases led to a 50% reduction in the number of tenants entitled to use coupons. Finally, new parking equip- ment was installed and rates were minimally raised to increase revenue without undue hardship on patients, visitors or staff. Excellence in Controls Led to a 530% NOI Improvement. These changes allowed the hospital to open new garages, eliminate the need for stack parking in the visitor lot and reduce la- Execution bor costs. As a result of Standard Parking’s advice and expertise, the hospital’s Net Operating Income improved 530% over a four-year period! Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  20. 20. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 S o u t h we s t F l o ri d a Phone: 888-700-PARK Fax: 312-640-8210 I n te rn a t i o n a l A i rp o rt O p e ra t i o n a l E xc e l l e n c e R e q u i re d to M a n a ge A i rp o rt G row t hThe Situation. Over the past ten years, Southwest Florida InternationalAirport has been one of the country’s fastest growing airports. When theairport decided to build a new state-of-the-art airline terminal building,they needed help transitioning to a new 12,400 space parking lot and,concurrently, starting up one of the largest on-airport bumper-to-bumpershuttle service operations in the country.Parking Operations Seamlessly Transitioned. Standard Parking successfully transitioned the entire parking opera-tion from an old split terminal to a new mid-field terminal and parking complex. We applied our expertise to reviewtraffic flow for the new parking facility, create a comprehensive transition document, manage and oversee a new reve-nue control system, secure a variety of expanded vendor services and implement a new employee shuttle service totransport employees to the new terminal. Bumper-to-Bumper Shuttle Service. The airport’s new parking configuration more than tripled the number of required shuttle vehicles. Standard Parking now operates thirty 14- “Standard Parking passenger shuttle vehicles, serving over 8,000 spaces in the long-term parking facility. continues to do a tremendous job with our The buses traverse a 3.3 mile loop and are dispatched to accommodate on-demand ser- comprehensive parking vice to every parking patron. Standard Parking designed the system using a ‘smart load- management and bumper- ing’ technique in which patrons are directed into specific parking areas via customer ser- to-bumper shuttle service vice agents or movable signage. operations.” A Full Service Solutions Provider. Successful management of rapid parking growth and Jeffrey Gray, A.A.E. Department Director installation of enhanced customer services are trademarks of Standard Parking’s opera- Lee County Port Authority tions at Southwest Florida International Airport. Whether it’s parking management, facil- ity planning, shuttle buses or curbside services, Standard Parking brings the full range of customer amenities, services and solutions to airport clients across the country. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  21. 21. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Wa t e r f r o n t P l a z a — H o n o l u l u Fax: 312-640-8210 M o n i to ri n g o f Pa rk i n g S p a c e U s a ge C ri t i c a l to R e ve n u e G a i n sThe Situation. Waterfront Plaza is a complex of seven corporate buildings in theheart of Honolulu, infused with a promenade of shops, restaurants and entertainment.The covered parking structure contains 1,226 full-size parking stalls with optional valetparking available. Top-notch customer service and adequate revenue controls werenot being provided by the parking operator, which prompted the property manager tocall on the expertise of Standard Parking.Before We Took Over. The client reported poor management of parking stall inventory, untracked lease allocations,inaccurate rate billing and poor communications by an unreliable parking staff.What We Did. Standard Parking documented and regularly maintained a “parking rent roll,” itemized stall allocationsagainst actual usage, corrected billing rate records and implemented comprehensive, customer service oriented train-ing for all employees that included written Standard Operating Procedures for use by all employees. “I hired Standard Parking Comprehensive Rate Structure Review. In addition, Standard Parking reviewed allbecause they could provide early-bird, employee discount, validation and other parking programs, and made specific proactive revenue and recommendations as to which to retain, discontinue or adjust. physical management of the garage, supported by The Result: 36% Revenue Gain. Net income for the facility rose by 36% in the first ten independent audits and months under Standard Parking’s management. The customer service and staffing en- quality control.” hancements, along with revenue control recommendations – capturing lost tickets at the Cecily A. Ching, (B) exit stations, limiting cash handling and closing validation loopholes – all played a role in Shidler Hawaii Investment creating a financially efficient parking operation. Partners, LLC Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  22. 22. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK We s t f i e l d C e n t u r y C i t y Fax: 312-640-8210 E x p re s s Pa rk i n g E x p e d i te s Tra ff i c F l ow - a n d P ro f i t s !The Situation. This bustling, high-end retail shopping center in Los Angeles is hometo over 170 stores and a 3,000-space parking garage. Standard Parking, the operatorof the parking facility for more than 20 years, was asked to convert the facility from apay-in-lane operation to a fully automated pay-on-foot operation. The owner’s man-date was to reduce operating expenses while enhancing service levels for the morethan four million vehicles that use the garage every year. Given local shopping centercompetition, smooth implementation of an express parking plan was essential.Maintaining Service During Installation. Standard Parking selected the best equip-ment option and developed an installation timeline with the stated goal of maintainingproper revenue control and service levels throughout the installation period. Multipleentry and exit driveways and numerous escalator and stairwell access points presented special operational challenges.“Frankly, I can’t say enough Expenses and Transaction Times Reduced. Installation was completed on time, within about how smooth the budget and without adversely impacting customer service. The project lowered overall changeover went. We payroll and fringe benefit costs, increased revenues on the average ticket and reduced were all here for the first exit lane transaction times from an average of 20 seconds to seven seconds. day, which was on schedule. There werevirtually no complaints. We Return on Investment Came Quickly. The return on investment on the cost of thenow have a true read on our equipment, physical improvements, signage and operating expense savings was 68%, traffic and our revenue. representing a full payback in less than two years. At peak periods during the holidays, That’s a real benefit.” Westfield Century City can now more efficiently handle 15,000 vehicles a day, resulting in a 5x turnover rate for each parking stall. Standard Parking’s expertise in equipment selec- Paul Kurzawa, Vice President, Westfield tion and installation proved to be a valuable asset for the client. Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals
  23. 23. 900 N. Michigan Avenue Suite 1600 Chicago, IL 60611 Phone: 888-700-PARK Fax: 312-640-8210 Ya n k e e S t a d i u m Au to m a t i o n , Pa rk i n g R e s e r va t i o n Sy s te m M a ke a W i n n i n g Te a m !The Situation. The Yankee Stadium parking operation encompasses over7,500 parking spaces in five garages and eight surface lots. The manualcollection of parking fees, congested traffic patterns, customer frustrationwith “lot full” signs and the inability to reserve parking in advance allprompted management to retain Standard Parking to modernize parkingoperations and improve the parking experience for Yankee fans.Leading Off: Revenue Control Equipment. Standard Parking installed pay-on-foot technology in the garages andstarted to use hand-held computers and printers in the surface lots. In the two newly-built garages, parking and trafficflow plans were developed and implemented to accommodate automation and eliminate the need to turn away poten-tial parkers. Customer service booths were installed in all surface lots. The Home Run: Online Parking Reservations. The ability to reserve and pay for event “Your group has been parking on line, in advance of game day was made possible through implementation of extremely responsive and our Click and ParkSM online parking reservation system, which also provides parkers with has brought forth very detailed driving directions. New signage, improved lighting and crisper employee uni-valuable recommendations forms also enhanced the customer experience. on how to improve operations and the Removing Cash Handling From the Equation. Standard Parking’s expertise with reve- customer experience.” nue control equipment and the opening of new garages has improved the monitoring of William Loewenstein the Yankee Stadium facilities and substantially reduced cash handling. Approximately President 24% of all event revenue now comes from prepaid parking, and half of the garage event parking fees are paid on-site via credit card. Let Standard Parking help you get ready forBronx Parking Development your next game. Company, LLC Please Contact Us For Details on How We Can Help You Achieve Your Financial Goals