What is a Multi-Day Reservation?
A multi-day reservation is defined as a single transient reservation lasting longer than 24 hours. By providing drivers who are looking to park for multiple days with
affordable and convenient options, you can capture more demand and maximize the yield of your inventory.
Optimize for Multi-Day Reservations
To seize this chance to rev up your revenue, we highly recommend:
Enabling in & out privileges for your inventory.
What are in & out privileges? Enabling in & out privileges allows drivers to enter and exit freely using the same reservation.
How does this benefit you? Our data shows that the number of multi-day rentals that are booked at facilities with in and out privileges is double that of daily transient rentals.
How will drivers know your facility has in & out privileges? Drivers can use the "In & Out Allowed" filter on our platform to easily find facilities with spots that allow them to enter and exit through out the duration of their reservation.
How do you enable in & out privileges? If you are interested in setting up in & out privileges at your facility, reach out to your SpotHero Rep or sellerssupport@spothero.com
Optimizing your rates for multi-day reservations by setting multi-day discounts.
What is a multi-day discount? A multi-day discount is a percentage discount applied to reservations lasting longer than 24 hours. Multi-day discounts can be set for all days of the week or for specific days, and they can vary from day to day.
How does this benefit you? We recently conducted an experiment across several facilities in six major cities. During this experiment, we lowered rates by 10% for reservations exceeding 24 hours. The results were remarkable: within just four weeks, participating facilities experienced a substantial uptick in revenue, approximately 20% higher than previous figures. Additionally, there was a rise in the average revenue per visit, indicating that drivers were willing to stay longer due to the adjusted rates. By aligning rates with parking duration, these facilities not only optimized occupancy, but also gained a competitive edge within their respective markets.
How will drivers know your facility offers multi-day discounts? Multi-day discounts are visible to drivers at each stage of the booking process on our platform. This ensures that as drivers search and compare parking options, they will immediately notice the discounts in search results and be drawn to the facilities offering them.
How do you set multi-day discounts? If you are interested in setting up multi-day discounts at your facility, reach out to your SpotHero Rep or sellerssupport@spothero.com
Questions?
Contact your SpotHero Rep or sellersupport@spothero.com