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.
kbo professional baseball fun play survey get involved/참여하기
I’m writing on this topic these days, baccarat online, but I have stopped writing because there is no reference material. Then I accidentally found your article. I can refer to a variety of materials, so I think the work I was preparing will work! Thank you for your efforts.
i am always looking for some free stuffs over the internet. there are also some companies which gives free samples. МЕДИЧНА ВІЗА ДЛЯ ІНДІЇ
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! bitcoincasino
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 baccaratcommunity and leave a message!!
There a few interesting points over time here but I don’t know if I see them all center to heart. There exists some validity but Let me take hold opinion until I look into it further. Very good post , thanks and now we want more! Included with FeedBurner at the same time —–I’m curious to find out what blog platform you are using? I’m experiencing some minor security issues with my latest site and I’d like to find something more secure. Do you have any solutions? I’d have got to talk to you here. Which isn’t some thing I do! I enjoy reading an article that should get people to think. Also, thank you for allowing me to comment! 토토
I’ve been troubled for several days with this topic. casinocommunity, But by chance looking at your post solved my problem! I will leave my blog, so when would you like to visit it?
Looking for something different in bridal asian jewellery? Why not try Asian-inspired pieces? In this post, we’ll explore some of the best Asian-inspired bridal jewellery, perfect for the bride who wants to stand out from the crowd.
เพียงแค่คุณมีมือถือและอินเตอร์เน็ต สามารถสนุกสนาน เพลิดเพลินได้แล้วกับ betflik68
GTA Online 파워볼전용사이트 파워 사다리 시스템 배팅 Heist “Silent & Sneaky” 2-Players (Elite & Undetected in Hard Mode)
If you don’t know the battery usage, it will often lead to battery loss, which in turn affects the service life. Once the indicator light of the battery is on during normal use, it means that the battery is about to run out of power, and we need to stop using it in time to avoid damage to the battery. These situations can be avoided if you have a battery monitor.
A good safeguard is to go nigoal123 into a situation with no expectations.
This blog is really great. The information here will surely be of some help to me. Thanks!. 카지노사이트
Very nice post. I just stumbled upon your weblog and wanted to say that I have truly enjoyed browsing your blog posts. After all I’ll be subscribing to your feed and I hope you write again soon! —-Can I just now say such a relief to get somebody who really knows what theyre discussing on-line. You definitely learn how to bring a difficulty to light and produce it critical. The diet really need to read this and appreciate this side from the story. I cant think youre no more well-known simply because you undoubtedly provide the gift. I have read your article, it is very informative and helpful for me.I admire the valuable information you offer in your articles. Thanks for posting it.. 먹튀
I really treasure your piece of work, Great post. 카지노
안전놀이터 토토수사입니다 국내 메이저사이트 및 토토사이트를 확인하여 추천 해드리고 있습니다 많은 안전놀이터들중에서 먹튀없는 메이저사이트 안전사이트만 회원님들에게 소개해 드리고 있습니다 믿고 방문해주세요 최선을 다하겠습니다 검증사이트 카지노사이트 추천 토토사이트
I can’t believe focusing long enough to research; much less write this kind of article. You’ve outdone yourself with this material without a doubt. It is one of the greatest contents. tukang besi
thanks for sharing such a great post. you can support us to accept this
site
.
An impressive share, I merely with all this onto a colleague who had previously been conducting a little analysis within this. And that he the truth is bought me breakfast simply because I uncovered it for him.. here————- I gotta bookmark this website it seems very useful very helpful. I enjoy reading it. I fundamental to learn more on this subject.. Thanks for the sake theme this marvellous post.. Anyway, I am gonna subscribe to your silage and I wish you post again soon. I am curious to find out what blog system you are utilizing? I’m having some minor security problems with my latest website and I would like to find something more secure. 토토
Thank you admin for bringing this article to read.ข่าวบอลวันนี้
Thank you for taking the time to publish this information very useful! Youtube to mp3
There are specific dissertation websites that are online via the internet when you find definitely reported in your internet site. KUBET
Shop online for the Latest Designer blouse of women’s saree blouses at the best price. Buy stylish blouses in many prints, patterns, fabrics, styles & more only at The Saffron Saga.
https://www.thesaffronsaga.com/collections/blouses
Shop online for the Latest Designer blouse of women’s saree blouses at the best price. Buy stylish blouses in many prints, patterns, fabrics, styles & more only at The Saffron Saga.
https://www.thesaffronsaga.com/collections/blouses
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! keonhacai
GTA Online Diamond 카지노커뮤니티 Heist Full Review, What Heists Should Have Originally Been
Recursos de apoyo para la aplicación práctica de Un curso de milagros (ACIM) con enseñanzas avanzadas del maestro David Hoffmeister. un curso de milagros
I am incapable of reading articles online very often, but I’m happy I did today. It is very well written, and your points are well-expressed. I request you warmly, please, don’t ever stop writing. https://zaradne.com/articles/pochemu_stoit_ispolyzovaty_derevyannye_dveri.html
Recursos de apoyo para la aplicación práctica de Un curso de milagros (ACIM) con enseñanzas avanzadas del maestro David Hoffmeister. un curso de milagros autor
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 casinocommunity and leave a message!!
Democratic candidate Grover Cleveland, who was running for president and enjoyed a flawless reputation amongst masses, was severely impacted by this scandal in 1884. As per records, a top newspaper issued a story about his long-term affair and an illegitimate child. The story highlighted him as the father of a child from a widow named Maria C., further stating that the relationship had been active for almost a decade. Soon other newspapers also started publishing stories about the scandal. Surprisingly, Cleveland did not deny them contrary to public belief. ma ma where’s my pa
Does Varo Work With Cash App To Allow Instant Money Transaction?
Does Varo Work With Cash App record to allow you to make moment
installments with next to no sort of in accommodations? Indeed, you can do likewise by adding a Varo record to your Cash App account. When you add a Varo record and add an essential wellspring of installment, you can begin making exchanges with no issue. Aside from that, you need to take fundamental help and backing from nerds to deal with assuming anything is the matter with your Cash App account.
I’m writing on this topic these days, totosite, but I have stopped writing because there is no reference material. Then I accidentally found your article. I can refer to a variety of materials, so I think the work I was preparing will work! Thank you for your efforts.
Im grateful for the article post. Much thanks again.
tarea อุบล
I was looking for another article by chance and found your article casino online I am writing on this topic, so I think it will help a lot. I leave my blog address below. Please visit once.
I saw your article well. You seem to enjoy majorsite for some reason. We can help you enjoy more fun. Welcome anytime 🙂
Lentor Modern is a 99-year leasehold condo developed by Guocoland. The condo will be a luxury mixed-use development in the heart of the new Lentor Hills Estate. lentor modern
ig tools dotnet ig tools dotnet Free Instagram Story Viewshttps://igtoolsnet.com/
TOTO4D result pengeluaran toto macau singapore pool dan juga hk live draw sydney 2022 salh satu situs judi online terbesar dan terpercaya togel indonesia. toto macau 4d
If you are feeling anxious, scared or nigoal123 panicked there are many things you can do to help yourself cope.
สล็อตเว็บตรง ไม่ผ่านเอเย่นต์ สล็อต pg เว็บตรง ไม่ผ่านเอเย่นต์ วอ เลท
Our private Escorts In Islamabad is the oldest one in town. Our clients trust our escort agency because we make sure they are safe and don’t have to worry about their privacy.
There are young Karachi Escorts who can give you an experience you’ll never forget. Sex sculpture is something that can’t be ignored, and that’s not a secret. Every man wants a beautiful woman who will satisfy all of his sexual needs and wants.
Thank you very much for keep this information. dcccd ecampus
Looking forward to more updates. 深圳桑拿
Play David Hoffmeister ACIM A Course In Miracles and discover followers on SoundCloud | Stream tracks, albums, playlists on desktop and mobile. a course in miracles audios
Excellently written article, if only all bloggers offered the same level of content as you, the internet would be a much better place. online video downloader
Tractor Pro Crack Full Crack, the Native Instruments iOS app (which also works on Mac and PC), news updates, and simultaneous global live streams seem the right time to do this. Unfortunately, the Tractor DJ Crack Download 2.4 update includes several incompatible features with the flow of custom feature requests, focusing on the transport interface Tractor Pro Crack.
The assignment submission period was over and I was nervous, majorsite and I am very happy to see your post just in time and it was a great help. Thank you ! Leave your blog address below. Please visit me anytime.
Your writing is perfect and complete. baccarat online However, I think it will be more wonderful if your post includes additional topics that I am thinking of. I have a lot of posts on my site similar to your topic. Would you like to visit once?