Towne Park Announces Strategic Acquisition of Park Plus Parking

• Increases Presence in Huge Tri-state Market

• Strengthens Off-Airport Parking Business

ANNAPOLIS, Maryland, May 3, 2017 – Towne Park announced today that it has acquired Park Plus Parking, a leading provider of parking solutions for hotels and airports in New York, New Jersey and Pennsylvania. Together the companies will offer the region’s most powerful full-range hospitality services platform, helping clients to build better guest experiences and improve business performance.

“Park Plus Parking brings to Towne Park valuable relationships with a number of high-profile clients, as they currently provide valet services at Ritz Carlton and Marriott International hotels and off-airport parking services at John F. Kennedy International Airport, LaGuardia Airport, and Newark Liberty International Airport,” stated Frank Pikus, executive vice president, acquisitions at Towne Park. “We are particularly excited about their strength in off-airport parking, which is a natural progression of our platform that complements our value proposition and adds an attractive growth driver.”

The acquisition of Park Plus Parking strengthens Towne Park’s position in large, growing markets and opens up additional revenue opportunities. The combination creates the largest service network in the Northeastern U.S., with an on-call staff that features over 800 associates, enabling Towne Park to respond to the heavy demand periods or special needs of any of the more than 70 portfolio clients it now serves in the region.

The deal also accelerates Towne Park’s product roadmap, adding strong off-airport parking capabilities that build upon Towne Park’s strengths in deploying highly motivated, high-caliber, mobile employees and in supporting services with sophisticated processes and systems.

“Towne Park’s people, systems, and scale enable the company to maximize efficiencies, drive up customer satisfaction, and create value, making them an outstanding partner,” stated Park Plus Parking President Anthony Preza. “I couldn’t be more pleased: We are now positioned for faster growth and deeper market penetration, and our employees have tremendous career opportunities with the No. 1 hospitality services provider nationwide.”

The acquisition by Towne Park is its fourth in the past five months as it continues to increase both its diverse range of services and its service capacity in the hospitality and healthcare industries. Towne Park’s portfolio of services is unlocking synergies in the healthcare and hospitality verticals, helping hospitals, hotels and other businesses create new business models, maximize growth opportunities and enhance their brands.

 

About Towne Park

Towne Park is America’s leading hospitality and healthcare services company with over 13,000 employees at more than 800 sites nationwide, including approximately 500 hotel and hospitality sites and 300 hospitals. We build better guest experiences, touching the lives of over 15 million people every year. For nearly 30 years we have been partnering with some of the most respected corporations in the world, including premiere global hospitality brands and state-of-the-art hospitals, offering a broad array of world-class, high-impact services and solutions. See what happens when you extend your brand and add new services that matter. Deeper connections. Greater efficiencies. Made Simple. Towne Park has been honored as a “Best Run Company,” a “Best Place to Work” and frequently been named one of “America’s Fastest Growing Companies.” For more information on Towne Park, please visit our website at www.townepark.com.

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