Challenge
In 2017, Colonial Parking® assumed operations of The George Washington University’s (GW’s) entire portfolio of parking facilities, consisting of 24 locations across two campuses, which provide over 2,600 spaces to faculty, staff, students, and visitors. The transition required a thoughtful approach to develop relationships and build trust with the GW team, while carefully planning around staffing requirements, facility upgrades, and technology enhancements.
Approach
To ease our transition, Colonial hired all existing GW parking staff as Colonial associates. These individuals’ collective knowledge of the portfolio proved invaluable to our management team as they worked to understand each facility and areas for improvement. Colonial, in turn, provided the new associates with expert training to ensure they understood and upheld our high standards for garage management.
Colonial extensively cleaned all visitor lots with machine sweeping and power washing to give them a “like new” appearance and create a lasting positive impression on all customers. Our Technical Services team cut costs by providing equipment servicing in-house. Later, Colonial led the bidding, procurement, and installation of new, modern Parking Access and Revenue Control Systems at 16 other locations throughout the portfolio, and has connected specific locations to our Remote Management Center – as appropriate – to provide real-time resolution to PARCS-related issues.
Colonial has also worked diligently to drive additional revenue across the portfolio, recommending rate adjustments and utilizing online sales for event parking, including high school graduations and sports tournaments.
Results
As a result of our efforts to enhance revenue and lower expenses, GW experienced a 24% increase in budgeted income during the first six months following our engagement. Our team consistently receives positive feedback from parkers about their experiences, and the associates we have gained have become vital members of the Colonial family.
