SP Plus Corporation Awarded Five-Year Contract Extension At McCormick Place In Chicago; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
SP Plus Corporation (NASDAQ:SP) has been awarded a five-year contract extension with its long-term parking client McCormick Place in Chicago. The company has implemented several enhancements over the years, including digital reservation technology and parking equipment improvements, which have significantly improved the financial performance of the parking operations.
July 10, 2023 | 12:30 pm
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SP Plus Corporation's contract extension with McCormick Place is likely to provide a steady revenue stream for the next five years. The company's successful enhancements to the parking operations demonstrate its capability and reliability, potentially attracting more clients.
The contract extension ensures a steady revenue stream for SP Plus Corporation for the next five years. The company's successful enhancements to the parking operations at McCormick Place demonstrate its capability and reliability, which could potentially attract more clients and positively impact its stock price.
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IMPORTANCE 75
RELEVANCE 100