Demand-Based Dynamic Pricing for Parking Operators is Here, And It’s Free

In January, The Wall Street Journal previewed a new technology solution for the parking industry called SpotHero IQ: a new way to automate dynamic pricing based on real-time occupancy data. The early results were affirming: operators using SpotHero IQ saved countless hours by eliminating manual rate adjustments and saw a 76% increase in revenue compared to a control group.

Today, we’re proud to reveal the next chapter in the SpotHero IQ journey: demand-based dynamic pricing. While occupancy-based pricing requires complex PARCS data integrations to get started, demand-based dynamic pricing allows operators to start working with dynamic pricing with just a single phone call, greatly reducing the barrier to entry. By automating online channels to adjust rates based on real-time market conditions using SpotHero search data and available inventory, operators can maximize revenue and build a strong case for implementing gold-standard occupancy-based pricing in the future.

As the parking industry prepares to re-open for business in the following weeks and months, SpotHero is offering both demand and occupancy-based dynamic pricing to operators free of charge. Take advantage of fast-changing market conditions and daily fluctuations in demand, and free up resources tied to manual rate adjustments. Give us a call today to learn more.

About SpotHero

SpotHero is the digital parking leader and the largest place to buy and sell parking in North America. Millions of drivers use SpotHero’s mobile apps and website to find, book and access off-street parking in 7,000 locations across 300 cities. Leading mobility companies use the SpotHero developer platform to power seamless parking at scale for fleets, connected cars, and urban mobility solutions.