Park News
www.parkworld-online.com
ParkBloggin’ by Dr Jack Samuels
Dr Jack Samuels The Price Is Right? Or Is It?
As a new approaches at many of the world's parks and attractions, pricing decisions must be made. Frequently managers make such decisions based on costs rather than market realities. If labour costs go up, the ticket price may have to increase.
are whisked towards a roulette wheel with the 12 characters of the Chinese zodiac. On meeting the Fortune Rabbit himself they are blessed with good fortune and a shower of fireworks and gold coins. If only they were real. Oh wait, there’s a casino next door…
This less than subtle entertainment plays inside the resort’s Bubble theatre, the world's largest special effects projection dome, costing MOP300 million ($37.5m/€27.3m). The rabbit featured in the show stands around 10-metres tall. “Dragon’s Treasure is one of the world's greatest multimedia shows and has been experienced by over 2.5 million visitors since City of Dreams opened in 2009,” notes Nicholas Naples of operator Melco Crown Entertainment. “This new edition keeps the show fresh and exciting, showcasing the versatility and adaptability of The Bubble theatre.”
www.cityofdreamsmacau.com
UK Farm Attraction of The Year
A farm in the North East of England is celebrating its success as a tourist attraction with an award from the National Farm Attraction Network (NFAN). Hall Hill Farm near Lanchester in County Durham scooped top prize as “Farm Attraction of the Year” during a ceremony last month at Drayton Manor theme park. This is the second accolade in recent months for the farm as it was also named Best Tourism Experience of the Year at the 2010 North East England Tourism Awards. Hall Hill Farm, which employs up to 50 staff, welcomes around 60,000 visitors a year, who can bottle-feed lambs, see fluffy chicks, cheeky goats and magnificent Highland cattle, or enjoy a tractor or donkey ride around beautiful countryside. The farm, which opened in 1981, is very much a family business, owned by Jack & Pat Gibson. Son David runs the working farm and livery while daughter Ann Darlington manages the visitor attraction. The farm was devastated by foot and mouth disease in 2001 but is now reaping the rewards of hard work following diversification by the Gibson family. “Hall Hill Farm offers a fantastic experience for children, and is a well managed and
professional organisation, with a commitment to staff training,” notes NFAN’s Barry Davies. “They richly deserve this award.”
www.hallhillfarm.co.uk MARCH 2011 Hall Hill Farm’s Ann Darlington
While costs should always be an underlying consideration, this can be a poor way to make such choices, especially if you raise the price too much or too little. What can be done to determine pricing? Here are a few suggestions: •Look at the competition. When evaluating competition it is important not only to compare directly competing facilities (other parks) but also other leisure attractions in the market. This may include shopping malls, museums, cinemas, even sporting events. •Survey your existing customer base. Complete pricing studies with your customer base to evaluate propensity to pay for the service offered, including season passes and auxiliary services such as food and merchandise. Special promotions should also be investigated. There are many ways to vary pricing to maximise revenues. Factors affecting pricing will include demand, capacity of facilities, frequencies of customer visit and season pass use. When pricing season passes, research must be done to determine the average number of visits to your facility per customer over the pass period. Other considerations might include whether the season pass should be offered to locals only or tourists, and whether the pass will damage the perceived value of the daily ticket.
The conventional wisdom is that a season pass should be offered for a full operational season or calendar year. This may be an incorrect assumption. What is perhaps is more important to consider how you can boost attendance over quieter periods and generate incremental revenues. “Periodic passes,” already in use at some facilities, can be used on all but the most busy days, with “blackout” dates for example over Christmas, New Year or other holiday periods.
Always collect data about the number of visits that are made at full price by non-pass holders during a given season pass period. Once that is collected you should usually sell your pass at that price or just slightly above it. Hopefully, you will arrive at a price that is attractive to the guest, but good for you as you would not otherwise have generated more gate receipts from that pass holder. While season pass holders will visit more often, these visits should result in incremental food , merchandise and midway game revenues. You can also offer added extras such as priority ride access, but how about an option that includes inclusive food and beverage throughout the season? Most facilities offer just one or two options but, through research, the possibilities are endless as you strive to create loyal guests and guaranteed income, something which can't be taken for granted in the current climate.
Dr Samuels has written numerous articles for the amusement, theme park and entertainment industries. He provides consulting services in marketing, facility development, customer service, safety, crowd and event management, plus promotional activities such as birthday parties.
samuelsj@mail.montclair.edu
7
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40