DFW Airport Hotel Sells Unused Parking Spaces to Maximize Revenue
Towne increased hotel’s revenue by monetizing unused parking spaces with optimized pricing
The Challenge
A Dallas-Fort Worth airport hotel faced significant challenges in maximizing its parking pricing strategy, hindering the financial potential of its parking assets by:
- Fixing its rate to $4.00 a day
- Relying on a single online aggregator that limited visibility and sales
- Leaving numerous paces unused – especially during high-demand periods
To unlock the full potential of its parking assets, the hotel needed a dynamic pricing strategy, broader sales channels, and optimized management to drive higher revenue.
The Solution
By partnering with Towne to enhance how they managed and sold unused parking spaces with a new gateless digital parking solution and revenue optimization channels, the hotel adjusted its parking rates based on demand, maximizing revenue by increasing prices during peak times, and lowering them during slow periods.
1. Expanded Booking Channels: By listing spaces on 12+ platforms, they broadened market reach and attracted more airport travelers.
2. Adaptive Pricing: Rates now adjust in real-time to optimize revenue across peak and off-peak periods.
3. Efficient Management: A centralized dashboard enables real-time tracking and booking oversight.
4. Ongoing Support: Towne provides continuous optimization through performance reviews and strategy updates.
The Results
The results of Towne’s interventions were nothing short of transformative for both the hotel’s operations and the guest experience:
Airport Parking Profit: The hotel now averages $30,000 per month from airport parking revenue alone.
Revenue per Available Space: After implementing e-commerce strategies, the hotel achieved a RevPAS of $3.89 per available space (+15% increase) and a more seamless experience.