Member News: Use of Smart Parking Technology Helped Largest Resort Casino Property in California Increase Annual Profits by $60 Million
Parking Sense’s parking guidance technology helps patrons find parking fast
SAN FRANCISCO (Oct. 28, 2019) – The largest resort casino property California, also one of the largest in the country, has increased its annual profits by an estimated $60 million after deploying smart parking technology offered by San Francisco-based Parking Sense, the fastest growing parking technology company in the world. The Southern California area resort casino, recognized as the most technologically advanced in the country, implemented Parking Sense’s guidance technology in an effort to manage increased traffic volume following a recently completed $300 million expansion project that doubled the resort’s size.
Use of Parking Sense technology has allowed the resort casino property to effectively manage its 11,000 parking spots across three garages and provide patrons with up-to-the-minute, accurate information about available parking.
In addition, implementation of Parking Sense technology has given the resort casino the ability to:
- Recoup the cost of its expansion significantly faster than anticipated
- Ensure accurate valet staffing levels
- Establish a Four Diamond experience for patrons from the moment they arrive on-site
- Speed up parking to offer a better guest experience
- Know precisely how many people are parked in the garages at any point during the day
- Better manage existing, available parking spots
- Understand parking patterns
- Better predict revenues, and
- Increase value to its VIP program
“Implementation of Parking Sense technology has reduced instances where patrons previously turned around and left because they couldn’t easily find available parking,” said Matt Taub, Executive Vice President at Parking Sense. “For example, the Parking Sense system data revealed that a lower level in one of the garages was only reaching 1% capacity while all other levels were reaching about 92%. This had huge revenue repercussions as the average casino spend is $578 per visit and the average car arriving at the resort brings 2.1 patrons.”
Bringing the lower level’s capacity up to match the other levels, the resort had the potential to gain more than $1 million per weekend and over $60 million over the course of the year, according to the resort’s chief data analyst. Using this information, the resort took advantage of the Parking Sense app to assign spots in the lower-level garage, bringing capacity up.
Parking data also revealed that disabled-reserved parking spots on the upper levels of a new garage were sitting empty while spots on the ground level routinely filled up. Disabled visitors were parking in spots farther from the elevator on the first floor rather than driving up to a higher floor and taking advantage of handicapped-reserved spots closer to the elevator. As a result of access to this data, the property added more handicapped-reserved spots on the ground level to accommodate the first floor parking preference of its disabled guests.
“Because Parking Sense technology is scalable, can be easily upgraded and is essentially ‘future proof,’ the total cost of ownership of the system can be reduced by 80% over its lifetime,” continued Taub.
Learn more about Parking Sense and its suite of intelligent parking solutions at www.parkingsense.com.
About Parking Sense
Parking Sense is a technology company disrupting the parking and transportation industries with a cost-effective, comprehensive and easy-to-install suite of intelligent parking solutions. Parking Sense technology reduces both the time it takes drivers to find a parking space and related vehicle emissions by half, while offering businesses real-time data that allows them to better manage, track and charge for on and off-street parking. Offering 99+% accuracy, the company’s best-in-class guidance solutions can be tailored to individual client needs. At its core, the Parking Sense system is a scalable, dynamic, “evergreen” technology solution that allows clients to integrate additional features and technology over time. Learn more at www.parkingsense.com.