Universal Studios to adopt airline-style pricing
Universal Studios Hollywood is implementing a form of ‘demand pricing’ for tickets ahead of the highly anticipated April opening of the Wizarding World of Harry Potter attraction.
Universal will be the first major US theme park operator to adopt demand based pricing, long used by airline revenue management, hotels and the unpopular ‘surge pricing’ by ride hailing apps Uber and Lyft.
Under the new pricing policy, Universal Studios tickets bought in advance online for low-demand days can save up to $20 on the gate price of $95 which remains unchanged.
Bookings for busier weekends or during holidays save just $5 when booked online.
Universal is hoping the incentive of lower ticket prices will ultimately lead to shorter wait lines, one expert says.
“Demand-based pricing not only helps maximize ticket revenues, but also provides a tool to shift price-conscious consumers to less-busy days,” said Michael Erstad, senior consumer analyst at New York-based ITG Investment Research.
“Spreading visitations throughout the week may help improve the overall customer experience at the park.”
When the Harry Potter attraction first debuted at Universal’s Orlando park, attendance spiked by a estimated 30%.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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