The Parking Spot

What The Parking Spot does

The Parking Spot (legal entity TPS Parking Management, LLC) is the largest near-airport parking operator in the United States, founded in 1998 and headquartered in Chicago, IL. The company operates 70+ off-airport parking facilities serving 45+ U.S. airports, providing shuttle-based terminal access, touchless QR-code entry/exit, real-time GPS shuttle tracking, and tiered parking products (Basic, Standard, Premium). It is privately held by Green Courte Partners (GCP), a PE real-estate specialist, and serves a mix of individual leisure travelers, corporate travel programs, travel agents, and monthly/commuter parkers across major U.S. metropolitan markets.

The technology layer is a mobile-first reservation platform (iOS/Android apps, web) integrated with an electronic vehicle locator, QR-code gating, and the Spot Club loyalty program, which has accumulated more than 4 million members earning points toward free parking and tiered elite status (Gold, Platinum). The company also runs an Airport Network Partners program that lets third-party operators sell inventory through The Parking Spot digital platform, effectively operating a two-sided distribution marketplace alongside its owned facilities. Ancillary services include car wash/detailing (Soft Hands Car Care®) and monthly subscription parking with locked-rate contracts.

The business model combines per-transaction daily parking fees (rates ranging from approximately $6.50 at Houston Hobby to $23.95 at San Francisco), recurring monthly subscriptions for commuter/storage customers, corporate account billings, and travel-agent commissions. GTM is hybrid: direct-to-consumer via website and app, sales-led for corporate accounts, and channel/reseller-driven for travel agents and Airport Network Partners. The company is debt-funded for growth, having secured a $750 million senior secured facility from Carlyle in February 2024 alongside the acquisition of Park 'N Fly, with continued bolt-on consolidation (Park n' Jet at SLC, March 2026) driving footprint expansion from 24 to 45+ airports.

Name

The Parking Spot

Legal name

TPS Parking Management, LLC

Website

https://theparkingspot.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

The Parking Spot is the largest near-airport parking operator in the United States, operating 70+ facilities across 45+ airports under Green Courte Partners ownership, serving individual leisure travelers, corporate travel programs, travel agents, and monthly commuter parkers with shuttle-based parking, touchless QR-code entry, and a 4M+ member loyalty program.

Ownership category

akta.pro rank

Product category

Airport Parking Services

NAICS

Parking Lots and Garages (81293)

SIC

Airports, Flying Fields & Airport Terminal Services (4581)

akta.pro primary industry

Off-Street Parking Facilities Operations (Garages, Lots, Park-and-Ride) (TLAJAIAB)

akta.pro secondary industries

Parking Asset Management & Facility Services (Cleaning, Security, Staffing, Maintenance) (TLAJAIAG), Airport Parking Shuttle Operators (THAIAFAD), Parking Facility Operations (Garages, Lots, On-/Off-Street) (BPABAKAA)

Keywords

• Airport parking services
• Off-airport parking
• Parking reservations
• Shuttle parking
• Corporate travel parking

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Per-Transaction Parking Fees: Customers pay per-use parking fees when reserving spots at The Parking Spot facilities. Rates vary by airport location, parking type (Basic, Standard, Premium), and booking timing. Reservation fees apply for non-Platinum members.
2. Monthly Parking Subscriptions: Flat-rate monthly subscription offering unlimited entry/exit at a single facility. Monthly pricing locked for one year. First month discount available (10% off with promo code).
3. Corporate Accounts: Corporate travel programs with negotiated discounts, detailed expense reporting, and direct billing for business travelers.
4. Travel Agent Commissions: Travel agents book parking for clients and earn commission on reservations. Agent portal provides commission-eligible bookings.
5. Storage Solutions: Monthly parking for vehicle storage when and how customers need it, with special monthly billing and rates.
6. Car Care Services: Car wash and detailing services (hand wash, wax, interior vacuum, complete detail) added to parking reservations at select locations.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

The Parking Spot operates off-airport parking facilities with shuttle service to airport terminals at 70+ locations serving 45+ U.S. airports. It sells parking reservations under its own brand and the acquired Park 'N Fly sub-brand, tiered as Basic, Standard, and Premium, and monetizes via per-stay fees, monthly subscriptions, corporate accounts, travel agent bookings, car care add-ons, and an Airport Network Partners platform for third-party inventory.

Product overview

The Parking Spot operates as a near-airport parking management platform offering off-site parking services at 70+ locations across 45+ U.S. airports. The core offering combines the flagship The Parking Spot brand with the Park 'N Fly sub-brand (acquired), both providing shuttle-based parking with tiered options (Premium, Standard, Basic). The platform is supported by The Spot Club loyalty program with four million+ members earning points redeemable for free parking, and The Parking Spot Mobile App enabling touchless entry, shuttle tracking, and mobile checkout. Business services include Corporate Accounts, Travel Agent Portal, Airport Network Partners, Storage Solutions, and Contract Parking. Additional offerings include Monthly Parking Subscriptions and Car Care Services (wash/detailing).

Differentiator

Problem solved

Functional benefit

Brands

• Park 'N Fly: Near-airport parking brand operating under The Parking Spot umbrella, offering best-in-class parking service.
• Park N Fly by The Parking Spot
• theSpotClub
• The Owners Spot

Products and services

• Airport Parking (The Parking Spot) Near-airport parking service with continuous shuttle transportation to and from airport terminals at over 70 facilities across 45+ U.S. airports. Customers reserve spaces through the website, mobile app, or call center and choose from Basic, Standard, or Premium service tiers. Targeted at leisure and business travelers.
• Park 'N Fly by The Parking Spot Sub-brand of near-airport parking retained after acquisition by The Parking Spot, operating at select facilities with separate branding but integrated loyalty. For travelers seeking airport parking at Park 'N Fly branded locations.
• The Spot Club Loyalty Program Free loyalty program with 4+ million members that awards 4 points per dollar on Standard and Premium parking, redeemable for free parking and member offers. Tiered Gold Elite and Platinum Elite statuses provide bonus earning rates, priority service, and exclusive discounts.
• The Parking Spot Mobile App Mobile application for iOS and Android enabling QR code touchless entry and exit, real-time GPS shuttle tracking, electronic car locator, mobile checkout linked to Spot Club accounts, and reservation management.
• Corporate Accounts Managed business travel parking program offering negotiated discounts, free parking earnings, detailed expense reporting, and direct billing for companies whose employees park at The Parking Spot facilities.
• Airport Network Partners Distribution program that allows third-party airport parking operators to list and sell their inventory through The Parking Spot website and mobile channels, expanding geographic reach without operating new facilities.
• Storage Solutions Monthly parking offering for customers needing safe, secure vehicle storage on a recurring basis with special monthly billing and rates.
• Contract Parking Long-term and event-specific parking solutions for airport commuters with expenses billed directly to a business account, enabling recurring and project-based parking needs.
• Travel Agent Portal Dedicated booking portal for travel agents to reserve airport parking for clients, with commission eligibility on bookings, easy booking tools, and access to special client discounts.
• Monthly Parking Subscription Flat-rate monthly subscription providing unlimited entry and exit at a single facility via QR code with rate locked for one year; cancelable anytime online.
• Car Care Services Car wash and detailing services including hand wash, wax, interior vacuum, and complete detail packages added to parking reservations at select locations, performed while customers are away.

Quantifiable outcome

• Over 10 million reservations processed in 20+ years
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered major and minor.

• AAAmajorGTM or Marketing PartnerNational partnership with AAA offering customers more ways to save. The Parking Spot is AAA Partner of the Year. AAA membership number can be linked to Spot Club account for benefits.
• Shell Fuel RewardsmajorGTM or Marketing PartnerNational partnership with Shell Fuel Rewards offering customers additional savings opportunities. Shell partnership provides fuel rewards to customers using The Parking Spot services.
• Hope Springs WaterminorGTM or Marketing PartnerHope Springs Water provides clean water to guests at select Parking Spot facilities near Dallas, Austin, and Houston airports. Hope Springs Water brings clean water, improved sanitation, and hygiene education to communities.
• National Parking AssociationminorStrategic or Co-development PartnerMember of National Parking Association helping to advance the parking industry through professional standards and industry advocacy.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Park 'N Fly: Acquired by The Parking Spot in February 2024, Park 'N Fly was historically the most directly comparable off-airport parking competitor, operating at major hubs including OAK, SFO, MSP, and MIA. Now operates as a wholly-owned sub-brand of TPS with shared loyalty integration.
• WallyPark: One of the largest remaining independent off-airport parking operators in the US, with locations at LAX, SEA, and other major airports. Competes head-to-head with The Parking Spot on price, shuttle service, and digital booking in shared markets.
• FastTrack Airport Parking: Regional off-airport parking operator primarily serving the Los Angeles area (LAX, BUR, LGB). A direct competitor at the largest US airport market where The Parking Spot also has multiple facilities.

Regional players

• Diamond Parking: Regional parking operator with a strong presence in the Pacific Northwest and Western US, including airport-adjacent operations. Comparable in business model though smaller in scale and geographically narrower than The Parking Spot.

Broad incumbents

• Impark: Major North American parking management company (formerly Imperial Parking). Operates a broad portfolio of off-street and valet parking including airport-adjacent facilities, making it a comparable broad incumbent in the parking services market.
• SP+ Corporation (Metropolis): Now part of Metropolis, SP+ is one of the largest parking management companies in North America, operating thousands of off-street and on-street parking facilities. While not exclusively focused on airports, it competes in the airport parking services segment and represents a broader incumbent in the parking industry.
• LAZ Parking: One of the largest privately-held parking operators in the US, managing parking facilities across commercial, residential, hospitality, and airport-adjacent segments. Overlaps with TPS in airport-related parking operations.

Emerging players

• ParkMobile: Digital parking platform providing reservation and payment solutions across thousands of parking facilities. While focused more on on-street and urban parking, ParkMobile's mobile-first approach is adjacent to TPS's digital booking and loyalty platform strategy.

Others

• BBA Aviation (Signature Flight Support): Global aviation services company providing fuel, ground handling, and airport-related services including parking at FBO locations. Comparable as an airport-adjacent commercial services operator, though focused on aviation rather than passenger ground parking.
• Green Courte Partners (Portfolio Companies): The PE sponsor of The Parking Spot, with a portfolio strategy focused on parking real estate and adjacent assets. GCP's other portfolio investments in parking and mobility provide contextual comparables for valuation and operational benchmarking within the PE-owned parking space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/theparkingspot
• YouTubeyoutube.com/user/TheSpotClub
• Facebookfacebook.com/theParkingSpot
• Instagraminstagram.com/theparkingspotofficial/?igshid=YmMyMTA2M2Y=
• LinkedInlinkedin.com/company/the-parking-spot

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Parking Spot