Merlin Entertainments is to introduce a dynamic pricing scheme whereby the price of a ticket will fluctuate depending on weather, holiday periods and overall demand.
Chief executive Scott O’Neil explained that the move “would help offset a decline in visitors since the pandemic,” adding that “the peak period experience is optimised by avoiding overcrowding.
“These changes enable greater flexibility for guests booking online to choose discounted prices for select dates and times.
“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,” commented O’Neil.
Merlin Entertainments will operate the scheme at venues across the world and will be implemented this year.
Merlin Entertainments already uses an off-peak and peak time pricing policy but now the company is set to use AI to determine a more flexible business plan judged by visiting on a sunny bank holiday than a rainy-day midweek.
This would lead to prices increasing or decreasing daily depending on determining factors.
The news comes off the back of Merlin Entertainments posting its financial highlights for the year 2023 in which it posted record revenues of £2.1bn in 2023, an increase of 8% year on year – numbers which were boosted by international tourists visiting London, where one in every four visitors to the capital came to a Merlin attraction.
Merlin Entertainments also confirmed that 62 million guests visited its parks last year – seven million more visitors than in 2023.
It was also confirmed a strong revenue growth at Gateway attractions, particularly in Asia Pacific, the UK, and Continental Europe, with “resilient performance across Legoland Parks and Resort Theme Parks.”
Image: Merlin Entertainments
