Attractions Make Long-Term Bet on Season Passes
Attraction operators are currently in an awkward spot as they try to cope with some broader trends reducing attendance at amusement parks. Their market of customers isn’t growing fast enough, and the overall number of possible customers, mainly teenagers and young families, has been stagnating demographically. Labor costs are an issue as well, with many operators seeing inflationary pressures in its wage costs because of the tight labor market. For these reasons, many amusement park operators are attempting to cash in on a popular subscription model—the season pass.
Season passes solve two problems. Bad weather usually depresses one-off sales, but a season pass encourages people to come back on a better weather day. Season passes also generate repeat business, and parks can profit by charging top dollar for food and souvenirs. Executives at major U.S. park operators are playing the long game by moving from sales for day tickets to season passes—hoping that customers see the greater value, and that parks can more quickly attain pre-pandemic normals through a greater savviness of extracting revenue from customers. (Skift, 06.04.21)
Is your attraction looking to make pricing adjustments to your Season Pass offerings? Don’t make changes without the data to back it up. Schedule a free consultation today or email us at email@example.com to learn more about H2R’s Pricing Research.
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