Merlin Entertainments is introducing a new “dynamic” pricing model to its global attractions such as Legoland parks, Sea Life aquariums and Madame Tussauds venues.
The company, which already utilises off-peak and peak time pricing, has been using the new system since last year.
By the end of this year, 20 of Merlin‘s top global attractions will have implemented airline-style surge pricing.
Surge pricing is the practice of increasing the cost of goods and services according to how much demand there is for them. With Merlin’s new model, guests will pay more on peak summer weekends than rainy weekdays.
In a statement (via BBC), Merlin said the use of surge pricing “makes sure that the peak period experience is optimised by avoiding overcrowding”.
The new system will also “enable greater flexibility for guests booking online to choose discounted prices for select dates and times”.
Merlin’s CEO Scott O’Neil said: “We had it in 2023 and we had the highest guest satisfaction scores in the history of the company, and seven million additional guests.
“So we’re definitely getting the signal that our processes are moving in the right direction”.
“Dynamic” pricing at Merlin attractions
As above, O’Neil said dynamic pricing would help to “protect the guest experience” during busier times of the year at its theme parks and other location-based entertainment (LBE) locations.
He explained, “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.”
Merlin has reported record revenues for the 2023 fiscal year. The group’s 141 theme parks and visitor attractions in 23 countries welcomed 62 million guests, an increase of seven million (13 percent) compared to the prior year.
Revenues in 2023 increased by 8 percent to £2.1 billion.
O’Neil said Merlin’s visitors in 2023 reported “the highest levels of guest satisfaction in Merlin history”.
Images courtesy of Merlin Entertainments
