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Jordan Hollander
CEO @ HotelTechReport
Jordan is the co-founder of Hotel Tech Report, the hotel industry's app store where millions of professionals discover tech tools to transform their businesses. He was previously on the Global Partnerships team at Starwood Hotels & Resorts. Prior to his work with SPG, Jordan was Director of Business Development at MWT Hospitality and an equity analyst at Wells Capital Management. Jordan received his MBA from Northwestern’s Kellogg School of Management where he was a Zell Global Entrepreneurship Scholar and a Pritzker Group Venture Fellow.
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What it does:
Collects payment for parking: Whether you have day-use customers, overnight guests, or residents or tenants with monthly contracts, parking management software can ensure compliance and handle payments and invoices for easy, accurate billing.
Controls access to parking areas: Gone are the days of paper tickets and frustrating access gates; a modern parking management system can read license plates and keep tabs on parking garage occupancy automatically so you can control who goes in and track when cars come out.
Reports on parking usage: How much do you know about your parking lot occupancy? Parking management software comes with robust reporting features so you can gain a deep understanding of trends and find opportunities to boost revenue.
How it adds value:
Streamlines parking operations. Parking management software takes much of the manual work out of parking operations. With tech-forward software, you can do away with paper tickets, vouchers, and cash transactions. Instead, a cloud-based parking management system can run your entire parking lot from one screen, reducing the risk of human error and greatly enhancing the guest experience.
Unlocks parking revenue while decreasing costs. In addition to giving you access to revenue-generating tools like dynamic pricing and add-ons, your parking management system decreases costs by reducing the need for parking lot staff to collect payment, monitor entry and exit limits, and handle validations or contracts.
Payment collection: Process payment for parking fees from guests, residents, or tenants.
Entry and exit control: Track which cars enter and exit your parking area, plus see real-time parking lot occupancy.
Validations: Easily offer free or discounted parking to events, meetings, or groups with customizable validation and promo code functionality.
Contract management: Organize monthly permits, send renewals, and see history of long-term parking contracts.
Additional parking services: If your parking garage has features or services beyond a simple parking spot, such as electric vehicle charging or premium spaces, you can monetize these via your parking management system.
Dynamic pricing: Leverage artificial intelligence and historical demand to strategically raise or lower parking rates by day of week or time of day.
Reporting: Gain insight into your parking revenue, costs, occupancy, and more metrics to help you optimize your operations.
Integrations: Connect your parking management system to your hotel’s property management system or your accounting software for the most seamless guest experience.
Like many types of enterprise software, parking management software is generally priced to suit your unique needs. Pricing can vary based on your location, parking capacity, and desired functionality. The most popular parking management systems offer custom pricing upon request, but you can expect to pay at least a couple hundred dollars per month for basic functionality. Large parking operations that require the most sophisticated features may pay around $1000 per month for parking management software. Some software vendors offer a free trial, and some charge an implementation fee.
Parking management system implementation often involves two components: hardware and software. Although modern, gateless parking management systems don’t require installation of entry and exit gates, you will likely need to install cameras, sensors, or other required devices for the system to function. Besides the hardware, the software installation requires some work on your side, like entering all the details specific to your parking lot. The system will need to know the number of spaces, your base rates, your existing contracts and permits, and any other rules or policies that you want the system to enforce. You’ll need to connect your payment processor or accounting software, and link your property management system or any other complementary systems for a seamless flow of data. Finally, together with the customer support rep from the vendor’s side, you should conduct thorough training for your staff so that they not only know how to use the back-end system well, but also so they can help guests or customers use the externally facing version.
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