Families planning a day out at major attractions like Thorpe Park and Legoland might have to pay more on certain days of the year. The owner of these attractions, which also includes the London Eye and Madame Tussauds, says it is introducing "dynamic pricing".
This means that people will have to pay more on sunny days. Merlin Entertainments, the company behind these attractions, said this new pricing strategy would help makeup for the drop in visitors since the pandemic started. About 20 of its global venues will see these changes this year, but it is not known which ones will be included.
Merlin already uses off-peak and peak-time pricing. This allows them to change prices based on how busy they expect to be at different times of the year. But now, they're going to use machine learning to make their ticket pricing even more flexible and detailed.
READ MORE:Controversial way of getting around London is 'what gondolas are to Venice'
For example, if a sunny Saturday during the summer holidays turns out to be less busy than expected, the company could decide to lower ticket prices on the day. Merlin the pricing structure would help make sure the park isn't too crowded during peak times.
The company mentioned that "these changes enable greater flexibility for guests booking online to choose discounted prices for select dates and times". Scott O'Neil, the group's chief executive, explained that this approach allows them to adjust prices depending on the season and manage visitor numbers.
He added: "We had it in 2023 and we had the highest guest satisfaction scores in the history of the company, and seven million additional guests." But not everyone is happy with the "dynamic pricing" model, like the ones Uber and some restaurants use, with complaints that it is not always clear why prices go up at certain times.
Mr O'Neil said that "dynamic" pricing is good for making sure visits are enjoyable even when it's really busy, by helping to control long lines at popular spots. He also said that offering cheaper tickets when it's less busy, like a rainy weekend in March, means more people can come. Mr O'Neil compared it to "happy hours" in pubs or how hotels and planes change their prices.
"It is not a new concept, but our focus is on two things that matter most; the guest experience and making sure that we are accessible and value-based for families," he added.
Get the most exciting London events and new bars and restaurants sent straight to your phone
You can sign up to get the most exciting events to the new bars and restaurants in London sent straight to your WhatsApp from the MyLondon team.
To sign up, you need to already have WhatsApp. All you need to do is click this link and select 'join community'.
No one will be able to see who is signed up and no one can send messages except the MyLondon team.
We also treat our community members to special offers, promotions, and adverts from us and our partners.
If you don’t like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
If you’re curious, you can read our privacy notice.
Click here to join our WhatsApp community.
Merlin revealed its sales soared to a record high last year as more visitors flocked to city-centre attractions. Total revenues jumped by 8% to £2.1 billion in 2023, compared with the previous year, and it had 62 million total visitors across the globe.
About a quarter of all tourists to London visited one of its attractions last year, and 40% of those visited more than one, according to the company. However, Merlin revealed it swung to a pre-tax loss of £214 million last year, from a profit of £106 million the previous year, which the company said was due to one-off costs including refinancing some of its debts.
The group said it had agreed to buy Orlando Wheel at Icon Park, the tallest ferris wheel on the US east coast, which will strengthen its presence in a top global tourist hub. Mr O'Neil also said it was expecting a boost from a new rollercoaster opening in May at Thorpe Park, named Hyperia, which will be its tallest and fastest ride.
Stay up to date with London's most exciting events, newest restaurants and latest deals with our What's On newsletter, Going Out Out. You can sign up HERE.
(Feed generated with FetchRSS)