Case Study

Unico Properties Case Study

How Unico Properties Increased Net Operating

Who’s Involved

Russ Davis | Vice President of Operations at Unico Properties

Customer Takeaways

The ability of data from [ParkHub’s] Smarking BI to let me focus on particular days is extremely important. With this data, we were able to make $80,000 above the budget across our Smarking BI parking portfolio last year.

Summary

Unico Properties – a Seattle-based real estate company with about 20 U.S. parking facilities – partnered with ParkHub to enhance parking asset management with ParkHub’s Smarking BI software. Real-time and historical data analysis informed strategic decisions and operational improvements. As a result, Unico has optimized performance metrics, increased revenue by adjusting to demand patterns, and plans to leverage these insights for future development and repurposing of its parking facilities.

The Challenge

Create an efficient method to track key performance metrics and identify trends in parking operations.

Use granular-level data to maximize potential revenue across Unico’s assets.

Evaluate the impact of decisions and track improvements over time.

Parkhub product Automated Yield Management AYM

The Results

Net Operating Income Increase

Unico saw a $280,000 increase in net operating income, beating its $200,000 goal by 40%. With ParkHub’s Smarking BI, the company maximized asset value with smarter pricing and inventory allocation decisions. Real-time assessments of garage health enabled rapid response to issues and opportunities.

In Conclusion

Unico Properties markedly enhanced its parking management capabilities with the addition of ParkHub’s Smarking BI, leading to a significant increase in net operating income. Unico has made informed decisions that optimize occupancy rates and pricing strategies, proving the power of data analytics. Unico plans to continue utilizing insights to enhance profitability and adapt to changing parking trends.

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