QuikPark Measures Their Performance Against the Industry with Smarking’s Benchmark
QuikPark, Inc. is a locally based garage management firm that has been serving commercial property users in the Mid-Atlantic since 1983. As a subsidiary of Quadrangle Development Corporation (QDC), QuikPark is dedicated to the highest level of service and satisfaction to customers.
QuikPark and Smarking have partnered since 2015 to enable real-time visibility for their parking assets through Smarking’s Business Intelligence. Through this partnership, QuikPark’s team has access to Smarking’s Industry Benchmark at no additional cost, with unlimited users.
The parking benchmark tool provides critical and timely data for transportation and mobility leaders to monitor national and regional trends, and to measure their performance against the industry. In 2020, it was exceptionally difficult for parking operators and asset owners to evaluate the performance of their locations, given that a year-over-year analysis was no longer accurate.
Benchmarking real-time performance metrics against the industry has been crucial throughout the pandemic to understand what the new normal looks like for each unique region and to monitor recovery patterns. It provides critical context needed when evaluating a garage's performance by providing a holistic view of the industry.
QuikPark Uses Smarking’s Industry Benchmark to Measure Their Performance Against the Industry
January 1, 2020 - December 31, 2020 compared to the regional performance in Washington, DC
While the industry’s average occupancy was down to 24% in December 2020, QuikPark’s Washington garage recovered to a 47% average
Leading QuikPark to rank above 90% of locations in the region
Although QuikPark’s performance was down year-over-year, Smarking’s Industry Benchmark revealed that their Washington Square location was actually recovering at a faster pace than the region. This data helps provide peace of mind to their customers and stakeholders at QDC Property Management.
“Smarking’s Business Intelligence solution has allowed us to shift towards a data-driven model. We use it to evaluate our assets at a granular level and to uncover valuable revenue opportunities. Smarking has been a strategic partner of ours since 2015.” - Sigismond Nicolls, General Manager at QuikPark
Driving Demand Amid the Pandemic
Sigismond Nicolls, General Manager at QuikPark was looking for a way to drive new demand to their garage in Washington Square amid the pandemic. He noticed that the nearby hotel, Grand Hyatt hotel was experiencing a high demand and didn’t have sufficient space for their guests. Sigismond reached out to Grand Hyatt to partner and garage space to their guests, providing a sufficient boost in their occupancy levels.
Throughout the pandemic, the QuikPark team also elevated their hygiene practices among their retail and office properties, providing premier safety practices to their customers.
To learn more about QuikPark's services, visit https://quikparkinc.com/.
For free access to Smarking’s Industry Benchmark, visit https://www.smarking.com/smarking-industry-benchmark