Hotels are constantly searching for innovative ways to generate ancillary revenue, and monetizing underutilized parking spaces is emerging as a powerful solution. With the right technology and strategy, hotels can transform vacant parking spots into a consistent source of income. This blog explores how Ocra, a leading online parking revenue management platform, helped MCR Hotels turn parking into a significant revenue generator, adding millions to their bottom line.

The Untapped Potential of Hotel Parking

For many hotels, parking lots are underused assets—particularly for off-airport hotels or those located near popular venues. These spaces often sit idle, representing a missed opportunity for revenue.

Key Benefits of Ocra’s Parking Management Platform:

• Maximized Revenue from Non-Hotel Guests: Ocra enables hotels to list unused parking spaces online for non-guests attending nearby events, airports, or attractions.
• Hands-Off Optimization: With Ocra CoPilot, hotels are able to optimize parking prices without extra labor or diverting focus from core hotel operations.
• Data-Driven Decisions: Real-time data and expert guidance from Ocra’s platform help hotels make informed decisions on pricing and availability, leading to better profitability.

MCR Hotels’ Success with Ocra

MCR’s partnership with Ocra showcases the potential for any hotel to capitalize on its parking assets. By implementing Ocra’s online parking revenue management platform, MCR generated an additional $3.4 million in annual parking revenue, contributing $2.5 million in incremental Net Operating Income (NOI).

Read the MCR Hotels’ case study.

The Bottom-Line Impact

By monetizing their parking spaces, hotels can unlock a new revenue stream that requires minimal operational involvement. Ocra showcases the potential for any hotel to capitalize on its parking assets.

Whether you manage a single property or an entire portfolio, monetizing parking through platforms like Ocra can make a significant difference in your revenue mix. With minimal upfront investment and no operational disruption, Ocra allows hotels to seamlessly generate income from an often-overlooked asset.

If you’re ready to explore how your hotel can benefit from parking monetization, start by analyzing your property’s parking assets. With the right tools and strategy, you could unlock a substantial revenue stream that complements your existing business.

Conclusion: By partnering with technology platforms like Ocra, hotels can turn an underutilized asset into a significant contributor to their bottom line. Don’t let your parking spaces go to waste—take action today to start driving incremental revenue.

Set up a demo or learn more about Ocra: https://hoteltechconsultant.com/ocra/.

Ocra is a preferred technology partner of HotelTechConsultant.com