Author Topic: PKT.V - Parkit enterprise  (Read 36279 times)

doc75

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Re: PKT.V - Parkit enterprise
« Reply #90 on: March 04, 2019, 11:31:31 AM »

It's a significant concern.  It's getting harder and harder to blame the impact of construction.

Absolutely.  They've had a year post-construction to draw back any customers who were lost, and they're clearly having a hard time doing so.   

They have a competitor directly across the street, plus a few others in the area in addition to parking at the airport.   Google Reviews are pretty bad of late, though these aren't always super reliable.  The general theme seems to be bad service (too few drivers/buses/cashiers is the biggest complaint).   The folks across the street are either better operators, or better at messing with Google reviews.



KJP

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Re: PKT.V - Parkit enterprise
« Reply #91 on: June 04, 2019, 09:13:12 AM »
Recent presentation:  https://www.parkitenterprise.com/investors/presentations/ld-micro-invitational.pdf

It includes calendar year 2018 NOI for each lot and updated waterfall projections for the OP Holdings JV.  Note that the projections are in USD.

It shows significant deterioration at Canopy and significant improvement at Nashville.
« Last Edit: June 04, 2019, 09:20:19 AM by KJP »

KJP

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Re: PKT.V - Parkit enterprise
« Reply #92 on: July 04, 2019, 08:04:54 AM »
Improved financial performance at Canopy, which is by far the most important asset in the JV.  From the recently filed quarterly MD&A:

"Roadwork construction surrounding Canopy Denver was completed in December 2017;  however, there is increased competition from two new parking facilities that have opened in the area.  Strategies have been put  in  place  to  incentivize  parkers  displaced  during  construction  to  return  to  Canopy  and  recruit  first-time users  to    the  facility.      Revenue  for  Canopy  increased  11%  in  Q2  2019  compared  to  Q2  2018,  and  NOI increased 23%."