Given global trends, how should attractions best reinvest in themselves to ensure maximum growth?
Matthew Earnest, Entertainment + Culture Advisors (ECA): Think beyond the ride
As with any business, the focus should be on growing revenue potential. In this context, reinvestment should be considered not just a tool for attendance growth, but also a driver for stronger pricing or other revenue enhancements across the guest experience (food & beverage, retail, etc.). Keeping all revenue opportunities in mind, reinvestment can be defined as new attractions, entertainment and event programming, and premium guest experiences from dining to VIP access.
With this broader perspective, operators do not need to focus exclusively on capital intensive ride development but can also explore other guest experience investments that require less capital but still enhance the property and grow revenue potential. The reinvestment that created The Wizarding World of Harry Potter is instructive in that it included an innovative ride experience as well as Ollivanders Wand Shop and Butter Beer. The result was double-digit growth in attendance and per capita revenue.
Comments Off on Attraction closures and re-openings
Comments Off on Loveland Laser Tag implements Semnox’s Klaimprize self-service redemption kiosks
Comments Off on Christie laser projectors take flight at Branson’s Beyond the Lens!
Comments Off on Space Center Houston to honor Apollo program during Spring Break
Comments Off on Jason Surrell joins Storyland Studios as Executive Creative Director
Feb 26, 2021 Comments Off on Loveland Laser Tag implements Semnox’s Klaimprize self-service redemption kiosks
Feb 26, 2021 Comments Off on Jason Surrell joins Storyland Studios as Executive Creative Director
Feb 26, 2021 Comments Off on Museum professionals advocate for Congressional funding during annual AAM Museums Advocacy Day
Feb 25, 2021 Comments Off on IAAPA study examines how hard-hit attractions industry is from COVID-19 pandemic
Feb 16, 2021 Comments Off on Eleventh Hour seeks Technical Proposal Writer/Manager for entertainment company clientThe position is ideal for a technical proposal writer who...
Feb 16, 2021 Comments Off on Little Canada seeks Visual Arts SpecialistLittle Canada is a highly detailed and animated journey...
Feb 15, 2021 Comments Off on Scenario seeks LA-based safety managerThe main office/shop located in San Fernando with various...
Feb 10, 2021 Comments Off on Steelman Partners and Gensler designing 75 hectare resort near Angkor WatThe initial phase is expected to be completed by 2025 at an...
Feb 03, 2021 Comments Off on Walt Disney Imagineering seeks Business Planning and Operations ExecutiveThe Director will lead financial planning and tracking and...