Case Study: Park 88 increases NOI with Vend Park's digital parking management platform

Park 88 Takes Parking Management Digital to Increase NOI

Park 88, a luxury residential property managed by Pacific Crest Real Estate, faced significant challenges with its outdated parking management system. The equipment was unreliable and constantly breaking, leading to a poor experience for tenants and visitors, lost revenue, and increased costs. They lacked real-time reporting and needed a solution that wouldn't require hiring additional staff to be profitable.

The property implemented Vend Park's Digital Access & Revenue Control Smart Parking Platform. The new system provided features like license plate recognition, digital validations, and real-time reporting. The results included an 82% increase in transient revenue, a 36% decrease in parking expenses, and 100% of transactions moving to digital. Vend Park's solution allowed Park 88 to forgo hiring a parking operator and significantly improved the customer experience.

Park 88

Nick Lorisch

Superintendent