SpotHero Bows Real-Time, Data-Based Dynamic Pricing for Parking Facilities

Parking app company SpotHero launched dynamic pricing at more than 1,000 parking facilities in North America, it said Tuesday. SpotHero IQ gives parking garage operators dynamic rates so they can set optimal pricing in high- and low-demand environments using real-time data, said the company. SpotHero CEO Mark Lawrence said the service allows operators to proactively manage demand volatility during a lull or spike in traffic. Drivers using the app can get “everywhere easier at the right price,” said the company. One Parking Vice President Rosario Palella called it a “game changer” that allows a parking facility to reach customers in time frames it wouldn’t have been able to do previously. The SpotHero app is live in over 65 cities with 100 operators.