Background
The skating rink at the Marina Bay Sand’s Integrated Resort in Singapore is located inside the retail complex on the Canal Level, next to the Rasapura Masters Food Court. Operating hours are 10am to 10pm daily (closed 5pm-6pm for maintenance). http://www.marinabaysands.com/Singapore-Shopping/Skating-Rink/
It is pretty small, measuring only about 600 SM. The rink shape isn’t your typical elongated oval (an Olympic hockey rink comes in at about 1830 SM. Given its small size it is mainly used just for recreational skating. It is a good way to keep the kids happy since the rest of the integrated resort is geared for adults (lots of gaming, nightlife options, upscale shopping, celebrity chef restaurants, etc).
While I’m focusing only on the rink at MBS, in case you’re curious and want to go ice skating in hot and humid Singapore, the MBS rink is one of only two operating ice skating rinks. It came online with the opening of the integrated resort in 2010. The only other rink is Kallang Ice World which opened in 2007 as part of the Kallang Leisure Park, located near the Stadium MRT. At 975.5 SM, the Kallang rink is much bigger but still nowhere near Olympic size. Nevertheless as Singapore’s larger rink, Kallang is the preferred practice rink for figure skaters and hockey players. Some more trivia that is sure to improve your life…the NTU figure skating club uses Kallang’s rink. A third rink, Fuji Ice Palace, ceased operations in 2008.
Defining Space
Space in an ice skating rink is sold implicitly but not as implicitly as a hotel where space is split up into guest rooms or restaurants where space is divided into different types of seats. The customer doesn’t know that they are being sold a piece of space which in this case would be the amount of space they are allocated based on the maximum safe capacity that the rink can handle.
Defining Time
At the MBS rink, time is sold explicitly in hour-long blocks. The pricing is as follows: S$7 for the first hour for adults (S$5 for additional hours), and S$6 for kids for the first hour (S$3 for additional hours). This makes it easy to predict duration.
Most other rinks in the industry (the kind that I’m more used to seeing) sell time in a more implicit manner using a flat rate that allows the skater to skate all day. This sort of pricing scheme makes it hard to predict duration.
If MBS sticks with an explicit definition of time, it could consider splitting time up into the half hour, perhaps offering a 0.5 hour “quickie” or a 1.5 hour option. The rink is small so I think most people will get bored pretty quickly and decide to leave before a full hour is up. Thus a quickie may be an enticing offer. They can do a few laps, take the necessary “victory” sign picture and move on with their day.
For a rink that chooses to define time implicitly, another way is to split it into perhaps morning (10:00-noon), afternoon (noon-17:00), and evening sessions (17:00-closing).
Rate Fences
Rate fencing is not really utilized at the MBS skating rink except to divide the adult rate classes and child rate classes (a non-physical rate fence). Age is used to prevent jumping to the lower rate class, though the cutoff age is not clear from the website.
Presently there doesn’t seem to be any real physical rate fence used. There are no amenities (though I guess MBS can bundle in some equipment if they were to be more creative with managing the ice rink). There are no “fancy ice skates” that can be rented at a premium over the regular ugly ones, and that can be used to differentiate a premium customer from a regular one.
Also since it is a small ice rink and people move around, there really isn’t a sweet spot that would allow you to sell a particular piece of it at a premium as you might be able to do for better seats in a movie theater or a nicer table in a restaurant.
The rink can consider rate fences to aid in RM efforts but it should probably approach it in a more back of the scenes approach (as in keep the pricing board at the ticketing counter as simple as possible). The last thing you want to do is confuse the customer when they stare at the prices. Here’s some ideas for rate fences.
- If MBS begins to do reservations (i.e. for peak periods), a credit card guarantee against arrival uncertainty could be used to justify a discount for booking ahead.
- If MBS were to consider launching targeted promotions, adding in value adding amenities (i.e. souvenirs, equipment bundling, or some sort of special service like helping to clear the ice for a few minutes so a man can propose to his girlfriend) could be a physical rate fence.
- With discount promotions, restrictions on usage become a non-physical rate fence.
- If MBS were to introduce discounted pricing onto their pricing board based on time of day, day of week, weekday/weekend & public holiday, then these factors become non-physical fences
- If MBS were to do group sales (more on that later), then the group affiliation becomes the non-physical fence.
Factors appropriate for Revenue Management
Fixed Capacity: The MBS rink has a fixed capacity. It’s not going to get any bigger. There’s probably also a maximum limit of people who can be on the ice at any one time for safety reasons.
Perishable Inventory: This is valuable real estate inside a busy retail complex. If the space isn’t being utilized as efficiently as possible (i.e. not a lot of skaters) throughout the operating timeframe each day then there are lost revenue generating opportunities.
Appropriate Cost Structure: high fixed cost (to build it) and relatively low variable cost to run it (probably just some staff to sell tickets, handle the shoe rental, someone to watch for safety, and someone to drive the zamboni)
Varying Customer Price Sensitivity: maybe…Ice skating at MBS is pretty expensive. I’m used to paying a flat rate back in the States which is something like $10 all day. At MBS there is a fixed pricing scheme of S$7 for the first hour for adults (S$5 for additional hours), and S$6 for kids for the first hour (S$3 for additional hours). While I’m sure there are tons of rich, price insensitive people who come to MBS, there are probably lots of poor people like me who just visit from time to time to walk around. I might be more inclined to want to skate (on an impulsive whim) if they offer a variable pricing scheme with promotions for off-peak periods.
Predictable Demand and Time Variable Demand: MBS probably has the data to forecast customer arrival patterns by time of year, DOW, and TOD. I don’t think they do reservations so you’re not going to really have an exact on-the-books kind of demand picture at the start of the day, but there might be a correlation of ice rink customer volume with occupancy patterns, particularly if drilled down to certain customer segments in house?
What Quadrant?
Currently the MBS ice rink is likely at quadrant 1. It has a predictable duration (customer is charged based on how many hours they want to skate), and a fixed price (though they get a little discount after the first hour). The rink would have to move towards a more dynamic pricing scheme in order to advance towards quadrant 2.
Measurement
Similar to a restaurant where customers start and end their meals at different times, the MBS ice rink has people starting and ending their time blocks at different times. Additionally there is a limit to how many people who can safely be on the ice at one time. Although I’m not sure what the best way to measure success is, I’ve got two ideas.
One way is to use revenue per available square meter (RevPASM) since you know the rink dimension. You can look at RevPASM hour by hour (to be more accurate you can look into prorating the revenue from each customer based on when they start and finish arriving at a total hourly revenue figure for the rink) and try to maximize it without overcrowding the rink.
Another idea that I’m more inclined to attempt is that I’d take into account the maximum safe capacity of the rink based on company policy (or regulation?) and do an imaginary compartmentalization of space so that it can be sold more implicitly. This would be analogous to dividing up a restaurant dining room into seats. Instead of restaurant seats, you’d have skater-space (the amount of space you’d allocate for the skater on the rink). So if I say 10 SM per skater, then I can safely put 60 skaters on the 600 SM rink. Doing so, I can use a measurement similar to revenue per available seat hour (RevPASH) that incorporates both a space and time element: revenue per available skater-space hour, which abbreviates to RevPASSH (threw in the extra “S” to avoid confusion)
Ancillary Revenue
Skate rental $3 (you’re forced to rent; cannot bring your own skates), socks $6 (probably b/c a lot of people probably make a last minute decision to skate and don’t have crew socks high enough to protect your ankles from chafing), gloves $10 (maybe if you fall a lot). People who skate probably also spend some money on food (hot chocolate?) at the adjacent food court. Additionally, they (especially the parents) probably are going to spend money in other parts of the integrated resort as well.
How to Boost Revenue Performance
For the MBS ice rink, probably the easiest way to boost revenue performance and get closer to Quadrant 2 is to examine RevPASSH and figure out the hot/cold periods throughout the day. Then attempt to implement variable pricing to maximize revenue. They can launch promotions and discounts to drive demand on the cold periods (i.e. through targeting their Premium Advantage member card holders). Actually if they’re more concerned with a total RM approach, I want to put it out there that I’m a Premium Advantage card holder and I’m a sucker for free things. So if they gave me a free skate hour I’d probably use it, and end up staying and blowing money in the casino after. This suggests that if you can do something to get kids to beg their parents to take them to the rink, MBS stands a good chance of getting one parent to venture into the casino while the other watches the kids.
MBS can make more money by selling ice rink souvenirs and enticing people to eat at the food court next to the rink. You can have your hot chocolate. And, since it’s Asia, there’s dim sum!
Another thing MBS can do is to consider selling to small groups as part of their meeting package. It could be marketed as a “quick fun break” where meeting goers can all go down and have a few minutes of fun. But MBS must do this carefully and target the cold periods. MBS is a large MICE facility. The last thing you want is a few hundred meeting goers all demanding to use the rink at once. The poor rink attendant will get slaughtered.
Additionally they can look into streamlining the procedures to get people off the ice quickly once their time is up and to clean and turn over the ice skates. This will help to enforce the predictable duration and also reduce time between customers.
This is an excellent article, and I appreciate you giving this useful information. I’ll return to your blog on a frequent basis to see what’s new. Hello, my name is Arushi Sharma, and I’m the Best plumbing Service in florida Out Call Service, which offers high-quality and outstanding group services. Visit the following website for additional information:- beagle puppies for sale near me
바카라사이트 에서는 1,000% 안전하고 검증된 국내 최대 온라인 안전바카라사이트 와 카지노사이트 만을 소개해 드리고 있습니다. 3중으로 검증된 우리카지노 사이트 소개 및 그 외 자체 검증된 카지노사이트 온라인바카라를 만나보실 수 있으며 여러 가지 안전놀이터 정보를 제공하고 있습니다. 카지노사이트
바카라사이트 에서는 1,000% 안전하고 검증된 국내 최대 온라인 안전바카라사이트 와 카지노사이트 만을 소개해 드리고 있습니다. 3중으로 검증된 우리카지노 사이트 소개 및 그 외 자체 검증된 카지노사이트 온라인바카라를 만나보실 수 있으며 여러 가지 안전놀이터 정보를 제공하고 있습니다.
5 Colleges in Ashland, Oregon: If you’re looking for a college in Ashland, Oregon, you’ve probably heard of Southern Oregon University. Initially founded in 1872 as Ashland Academy, this public University has been in its current location since 1926. It has been known by nine different names, including Ashland Academy. In 1997, it assumed its present name. Read on to discover more about this campus and its many degrees. colleges in Ashland oregon
สล็อตแตกบ่อย https://fhm789.co/สล็อตแตกบ่อย
Thank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. https://www.fiverr.com/polebaby
Wise care 365 crack program is clean and tidy and allows you to answer all the options. Purpose through tabs and visible cues; The utility is integrated using drag-and-drop, and it is easier to manage system programs than Windows Task Manager Wise Care 365 Pro Crack.
I have been looking for articles on these topics for a long time. casino online I don’t know how grateful you are for posting on this topic. Thank you for the numerous articles on this site, I will subscribe to those links in my bookmarks and visit them often. Have a nice day
Sweet Dishes Article is Awsome. Thank you for providing an Amazing article. I Really Like Your article This Website Is Very easy to use Such Great Work Here is My website is checked it out
Click here Thanks for sharing your thoughts Feel free to surf to my web.
Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. https://startupo.fr/course/203/
Find the best insurance company for your Cryptocurrency. We help to protect against risk of theft and attacks of hackers on wallet smart contracts. Can I insure my cryptocurrency
A dialogue that is similar to a moral drama based on the Internet world.
ผลสกอร์สด
Two full thumbs up for this magneficent article of yours. I’ve really enjoyed reading this article today and I think this might be one of the best article that I’ve read yet. Please, keep this work going on in the same quality. dewa slot 88
https://apksmoddy.blogspot.com/
Boss araç kaplama, Antalya araç kaplama
Bilekte, ferrucci saat erkek modelleri sizlerle.
Thank you so much for providing good-quality information. Read about Custom Rigid Boxes
What a nice article i found , i was looking it for a long time , i been searching it for so long now that i found out really help me.
파워볼
I was looking it for so long , and i found it finally that i know it will help me .
카지노
I high appreciate this post. It’s hard to find the good from the bad sometimes, but I think you’ve nailed it! would you mind updating your blog with more information? FORMULÁRIO DE INSCRIÇÃO PARA O VISTO DOS EUA
Your explanation is organized very easy to understand!!! I understood at once. Could you please post about safetoto ?? Please!!
Thanks to my father who told me about this blog, this webpage is really awesome
Weight Loss SARMs Stack
I’ve been troubled for several days with this topic. safetoto, But by chance looking at your post solved my problem! I will leave my blog, so when would you like to visit it?
Thanks for sharing a fine content with us.
digital marketing services for small business .
Struggling to wake up early nigoal123 isn’t about whether you hate mornings,
Get Sarkari Job, Sarkari yojana, Sarkari Schemes Update On Sarkari Alert
Hey I’m for the first time here. I came across this board and I find It truly useful & it helped me out a lot. I hope to give something back and help others like you helped me. Leather Sofa Set
Instagram Profilime Kim Baktı
NewStalker uygulaması profilinize kimlerin baktığını gösteren ücretsiz bir uygulamadır.
Very nice article, I enjoyed reading your post, very nice share, I want to twit this to my followers. Thanks!. raja slot
you can check the https://1win-app.in/app/
Instagram Profilime Kim Baktı
Profilime kim baktı çoğu ınstagram kullanıcısının merak ettiği bir sorudur.
instagram stalk sitesi
Sizi takip etmeyip profilinize girenleri farklı bir renk ile gösterir.
Nice post, get Fullstack course in Pune from SevenMentor, it is one of the best training provider in India taking the level of education one step ahead and provides training in almost every field like, Java, CSS, HR, Software development, competitive exams, ethical hacking and many more.
It teaches students all the modern concepts related to it, from beginners level to advanced level.
Bahis için en iyi site https://bet10beton.com/ tıkla gir.
I like post thank u presale tokens
Your explanation is organized very easy to understand!!! I understood at once. Could you please post about casino online ?? Please!!
Free slot games are available from play777games, a software provider serving players and operators. It is just for entertainment’s sake. Byplay777games
Movierulz – Download watch latest Bollywood Hollywood Hindi English Telugu
Tamil Malayalam Dubbed Kannada Marathi Punjabi movies online free movierulz…
Movierulz is
a website that offers users the best HD movies download experience. With a wide
range of movie genres and updates every day, …
It’s the same topic , but I was quite surprised to see the opinions I didn’t think of. My blog also has articles on these topics, so I look forward to your visit. 바카라사이트추천
I came to this site with the introduction of a friend around me and I was very impressed when I found your writing. I’ll come back often after bookmarking! 바카라게임사이트
Your explanation is organized very easy to understand!!! I understood at once. Could you please post about 카지노게임사이트 ?? Please!!
As I am looking at your writing, 온라인바카라 I regret being unable to do outdoor activities due to Corona 19, and I miss my old daily life. If you also miss the daily life of those days, would you please visit my site once? My site is a site where I post about photos and daily life when I was free.
I’ve been looking for photos and articles on this topic over the past few days due to a school assignment, 카지노게임사이트 and I’m really happy to find a post with the material I was looking for! I bookmark and will come often! Thanks 😀
It’s the same topic , but I was quite surprised to see the opinions I didn’t think of. My blog also has articles on these topics, so I look forward to your visit. 카지노사이트추천
It’s too bad to check your article late. I wonder what it would be if we met a little faster. I want to exchange a little more, but please visit my site 온라인바카라 and leave a message!!
I have been looking for articles on these topics for a long time. 바카라사이트 I don’t know how grateful you are for posting on this topic. Thank you for the numerous articles on this site, I will subscribe to those links in my bookmarks and visit them often. Have a nice day
Not drinking enough water nigoal123 can cause mild dehydration,
I found so many interesting stuff in your blog especially its discussion. From the tons of comments on your articles, I guess I am not the only one having all the enjoyment here! keep up the good work… http://www.shayarism.com
The worst part of it was that the software only worked intermittently and the data was not accurate. You obviously canot confront anyone about what you have discovered if the information is not right. 카지노사이트
Thanks a lot for sharing this post with us.All about loan