LDP recent project mix
The Instagram and TikTok generations have made the visual appeal a crucial factor of visitation, and cultural attractions are embracing it.
Variable & Dynamic Pricing under scrutiny
Optimising pricing and enhancing admission yield (or in other words – reducing the level of discounting) by encouraging more price sensitive customer groups to visit during less popular times, and those who can afford it – to pay a premium for prime time sounds like a no brainer. Digital art and experiential attractions have employed a dynamic price algorithm by using event- focused ticketing platforms, theme parks such as PortAventura and Disneyland introduced complex variable pricing, Merlin Entertainments use surge pricing for selected attractions, and even some educational and cultural sites have stepped onto this path. However, the results have been mixed. By taking away transparency and predictability, the approach has created a feeling of unfair treatment among some visitors and, as a result, higher levels of dissatisfaction. Aided by high-profile fiascos, such as the Oasis reunion where a dynamic pricing algorithm inflated ticket costs severalfold, the reputation has been tarnished. We expect high levels of scrutiny going forward. In some cases, less is more.
Premium is gaining momentum
In the aftermath of COVID lockdowns, VIP experiences and upcharges have strengthened the revenue streams for many attractions. As COVID has made the rich richer, and many others to place higher value on time and experience, the premium sector has seen growth. By constantly innovating and offering limited-time experiences, special events and pop ups, attractions create a sense of urgency and exclusivity. This drives consumers to make decisions based on a fear of missing out (FOMO), especially in the age of social media, where everyone wants to be part of the latest trend. Providing value for visitors
Immersive 4%
Wildlife, Nature and Botanic
3% 69% 23% Feasibility 5% 3% Enhancement Strategy/other Due Diligence Water parks 4%
Event venue or show
3% 4% Heritage Workplace 2%
Brand Centre or Hall of Fame
Resorts, Clusters and Mixed Use
24%
FECs, Indoor Parks & Play
21%
Theme Parks 19%
Museum & Gallery, Science Centre
6%
5% Sports entertainment
Viewing attractions
5%
remains vital. Associated with increased capex and maintenance costs this should of course be carefully planned for, especially when retrofitted.
Cultural attractions reinvented
The Instagram and TikTok generations have made the visual appeal a crucial factor of visitation, and cultural attractions are embracing it. Among recent striking openings are FENIX Museum of Migration in Rotterdam and V&A East Storehouse in London. Would the next step be an occasional sensitive integration of technology in educational attractions to enhance educational experience and information retention? We certainly hope so.
THE EXPERIENCE ECONOMIST: EUROPE EDITION 2025 | © LDP 15
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