Application of revenue management practices to the theme park industry

Heo, Cindy Yoonjoung; Lee, Seoki

doi:10.1016/j.ijhm.2009.02.001

Cited by 87 publications

(67 citation statements)

References 55 publications

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“…Comprehensive reviews of the RM literature in hospitality and tourism by Guillet and Mohammed (2015) and Wang et al (2015) yield only two pieces of research relating to theme parks, of which Heo and Lee (2009) is the only identifiable title. We discuss it below.…”

Section: Review Of the Literature: Theme Park Management Pricing And Rmmentioning

confidence: 99%

“…Annual operating income rose by 20% in the first year and by high single digits for years thereafter (Newkirk and Sanders, 2016). Heo and Lee (2009) focused explicitly on RM's real-world application to the theme park industry. Their paper outlines the market conditions that are ideal for RM application, compares the similarity of these ideal conditions to theme park industry conditions, and then discusses the suitability of RM techniques within the theme park industry context.…”

Section: Review Of the Literature: Theme Park Management Pricing And Rmmentioning

confidence: 99%

“…The applicability of revenue management (RM) techniques to the theme park industry has received attention from very few academic researchers (Heo and Lee, 2009;Milman and Kaak, 2013;Phillips, 2005) and makes up only a small fraction of RM research in recent years (Guillet and Mohammed, 2015;Wang et al, 2015). This is perhaps not surprising given that the theme park industry itself has historically demonstrated limited interest in the topic (Clarke, 2012), despite sharing many of "the conditions or characteristics amenable to effective implementation of RM" (Guillet and Mohammed, 2015, p. 527).…”

Section: Introductionmentioning

confidence: 99%

“…Industries that now apply RM methods include spectator sports (Shapiro and Drayer, 2012), theatre (Healy, 2011;Jones, 2012), foodservice (Hayes and Miller, 2011;Heo, 2013;Heo et al, 2013;Kimes and Beard, 2013), parking (Cooper and McGinty, 2012;Shoup, 2011), taxi and limousine service (Lowrey, 2014;Zhao, 2016), mobile gaming (Murphy, 2015) and many others. Nevertheless, academic applications of RM to the theme park industry have been extremely limited (Heo and Lee, 2009). This study hopes to help fill this gap in knowledge.…”

Section: Introductionmentioning

confidence: 99%

“…We then offer a brief review of the literature on theme park management and theme park RM. We then build on Heo and Lee's (2009) comparison of RM prerequisites in the theme park industry and traditional RM industries. We then look at the direct evidence of changes towards RM in theme park pricing strategy with data gathered in 2012 and 2016.…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Demand-based pricing in the US theme park industry

Lewison

2017

IJLTM

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Even as revenue management practices spread from the travel sector to other industries, the US theme park industry practiced static pricing. Highly visible demand-based pricing introduced by Disney and Universal highlights the relative lack of research on theme park pricing. We surveyed the research and gathered pricing information from 70 different US theme park websites in 2012 and 2016 and found that US theme parks in our sample added online ticket sales, discounts for advance sales and differential daily pricing during that period. We also report the proportion of US theme parks offering queue products and meal plans as ticket add-ons. Characteristics of theme parks may prevent true dynamic pricing, but the US theme park industry has begun moving away from its traditional static pricing model towards demand-based pricing.

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Section: Review Of the Literature: Theme Park Management Pricing And Rmmentioning

confidence: 99%

Section: Review Of the Literature: Theme Park Management Pricing And Rmmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Demand-based pricing in the US theme park industry

Lewison

2017

IJLTM

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Application of Operations Research In Amusement Park Industry

Yildirim¹

2011

Wiley Encyclopedia of Operations Research and Management Science

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In this article, a review of the application of operations research methods in the amusement park industry is provided. Although marketing and strategic management side of the theme park industry has been studied extensively, literature in the field of operations research is limited. Research focuses mainly on capacity management and revenue management; however, there are a few under‐researched but key areas that merit more attention. We identify those areas for future research.

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The role of personal relevance in the value creation process of edutainment consumption

Chan

2019

J of Consumer Behaviour

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This paper explores the value creation process in an edutainment context. It attempts to capture the dual, differential value creation processes through two pathways, namely, affective and cognitive. Results revealed that affective and cognitive values not only increase customer satisfaction but also enhance consumer well‐being. Moreover, contrary to conventional belief asserting that value creation is a universal process, this study finds that those who had higher personal relevance with the edutainment context experienced more intense emotional and intellectual values, which in turn enhanced both their satisfaction, well‐being, and revisit intention. Results suggest that marketers need to rethink their engagement strategy in order to create both emotional and intellectual value for customers.

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Application of revenue management practices to the theme park industry

Cited by 87 publications

References 55 publications

Demand-based pricing in the US theme park industry

Demand-based pricing in the US theme park industry

Application of Operations Research In Amusement Park Industry

The role of personal relevance in the value creation process of edutainment consumption

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