Fair Rental Value in Public Transportation Infrastructure
Challenge
Maximizing the value of public transportation infrastructure requires an optimal mix of businesses, including multiple retail categories that can meet to passengers’ varied needs—be it a cup of coffee or a new cellphone. Station owners, property managers and potential tenants constantly seek information to support decisions about location, price and other contract terms.
Absent objective data to support fact-based decision-making, parties face challenges associated with:
- Inaccurate information about passenger flows
- Intuitive decision-making based on misleading or non-representative data
- Incomplete data about conversion rates and customer engagement
Solution
An automated data capture system capable of tracking passengers and consumers—without offending data privacy rules—can reliably deliver performance KPIs that property managers can use to support fair market value evaluations. Robust and cost-effective, such systems can increase transparency and improve performance, but only if the system is:
- Accurate: with counting precision at or near 100%
- Versatile: able to cover a large area and resistant to interference
- Complex: capable of delivering valuable data points about passenger flows
- Resilient: not requiring regular maintenance and durably built
To bolster performance, designated stakeholders must be able to access real-time and historical data the system captures to understand the evolving challenges and opportunities they face.
Benefits
Relying on data to improve performance benefits owners, property managers, tenants and, most importantly, consuming passengers.
Rents that accurately reflect the value of space within a station are one of the main benefits, but using rich data points to support decisions about utilizing public transportation also helps to:
- Improve overall efficiency by optimizing passenger flows, taking into consideration passengers’ retail needs
- Enhance the passenger experience by ensuring that commercial offerings reflect travelers’ demands
- Support reputation-building initiatives pursued by cites or regions
- Increase overall infrastructure convenience, safety and cleanliness
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Solutions for Transportation
Xovis sensors create real-time passenger counts and are easy to integrate into current counting systems, saving time, money and resources. Find out more.
