Dynamic pricing at Orlando themepark result in postive trends
In a new article, Richard Balbao interview Dennis Speigel from the Cincinnati-based International Theme Park Services. Comparing the pricing strategies for different parks in Orlando, positive trends are expected this year and beyond.
Tourists are excited to see what’s coming next to Orlando’s big theme parks — something on which park executives want to capitalize. And one way they’re expected do that this year and beyond is through what’s known as pricing structures, or dynamic pricing, which is when the theme parks vary their admission prices based on attendance trends, say experts.
“Pricing is still an issue. Everyone is grappling with it and trying to figure out what is the optimum way to price their product throughout the entire year,” Dennis Speigel, president of Cincinnati-based International Theme Park Services, told Orlando Business Journal. “As we have seen with SeaWorld, they are lowering the bar, but Disney and Universal are holding that bar and rising slowly. But I think parks will, in the future, look at how they can fill some of the lower points through pricing and how they can continue to spread the attendance curve to more of a rolling attendance rather than high peak and low peak — that is the way they utilize their capacity and assets the best and make the most money.”