A new partnership between SpotHero and TIBA is bringing innovation to the online and offline parking market, as the two companies work together to improve customer parking experience within off-street facilities. SpotHero, working in 300 markets across U.S and Canada, and TIBA, an industry innovator in parking management software and hardware solutions for centralized parking operations, plan to offer a standardized process for implementing online reservations and joint product yield management via TIBA’s powerful parking API, SmartConnect.
The long term partners will create a “360-degree view of online and offline parking demand data, advanced yield management capabilities, and frictionless redemption”—all capabilities to make customer parking more efficient and accessible. SpotHero’s parking platform collects demand data that is almost four times larger than other online reservations platforms, which will be used by TIBA to analyze and provide actionable insights. By leveraging data that shows the drivers occupancy, duration of stay, and online demand, parking facilities operators can better manage their capacity and increase revenue.
TIBA uses ParkBlue, a user-friendly Bluetooth technology that allows drivers to present access credentials to a parking spot without rolling down their window, which then enables operators to process payments sooner while also opening up the doors for future technological needs of fleets and autonomous vehicles. The companies are currently piloting platform integrations, working to overcome challenges regarding payments, access, and the redemption for all types of vehicles.
“TIBA’s innovative solutions let parking operators keep pace with the latest trends in centralized operations, automated smart facilities, online reservations, and mobile payments. The outcome of this partnership is a parking operator platform for combined online and drive-up data, smarter yield management, and a better process for supporting and redeeming digital passes,” said Levi Rinkoff, Executive Vice President at TIBA, in a press statement.
