The Parking Spot Revenue and Competitors

The Parking Spot is the leading near-airport parking company in the United States. The first Parking Spot location was acquired in December of 1998 at Houston's George Bush Intercontinental airport. Since then, The Parking Spot has grown to 19 locations at 12 airports serving 10 metropolitan areas. Please click here for a list of all Parking Spot locations. The company was started by Martin H. Nesbitt. As air travel continued to grow in the 1990s, Marty saw an unmet need for more and better airport parking. On-airport parking was scarce, with high rates charged for limited space and service. Remote parking was less expensive, but also inconvenient. Remote airport parkers faced long walks to bus stops, long waits and many stops on the way to the airport terminal. Marty recognized an opportunity to give airport parkers better service at a fair price, creating value for guests and the company. Marty brought the business idea to real estate financier Penny Pritzker. They agreed that a focus on hospitality would differentiate The Parking Spot from other airport parking options. As Chairman of Classic Residence by Hyatt and a board member of Global Hyatt, Penny knows hospitality. The Parking Spot is based in Chicago, a block away from The Hyatt Center. The management team at The Parking Spot has a diverse background in real estate, consumer products, parking and other industries. Biographies of key executives can be reviewed here.