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.
tarafbet
I went over this internet site and 6 I think you have a lot of great info , saved to favorites.
토토캐논
PR Newswire is the global leader in innovative communications and marketing services that enable interaction and networking between organizations and their key audience anywhere in the world.
PR Newswire is a global newswire that distributes content through newspapers, websites, mobile apps, television, radio, and other channels. It also provides a full range of media relations services and social media monitoring to businesses, public relations professionals, and the media.
There are particular dissertation online sites over the internet if you ever buy of course proclaimed in the site. selling payment processing services
I hope you write more articles like this. I’m your biggest fan.
ข่าวฟุตบอลล่าสุด
This site really good
vegus168 member
Dealing with someone’s Nigoal toxic behavior can be exhausting.
High-end online gaming Sexy Games , often known as seduction, is a concept in which attractive girls deal the games and an automatic savings mechanism operates every 10 seconds with no waiting required. We restate our commitment to providing players with the opportunity to engage with new and classic experiences.
Took me time to read all the comments, but I really enjoyed the article. It proved to be Very helpful to me and I am sure to all the commenters here! It’s always nice when you can not only be informed, but also entertained! buy rosin online
This is a good sport news website.ข่าวฟุตบอลล่าสุด
Thank you, dear editor, for bringing such valuable content together with us..
https://tmsdecor.com/dis-mekan-dekorasyon/
Polkadot press release distribution service
Polkadot is a press release distribution service that distributes press releases and news to the world’s media and the public. They have built a worldwide network of more than 100,000 journalists, media influencers, and global community members that deliver press releases and news to their Polkadot press release distribution service.
My friend mentioned to me your blog, so I thought I’d read it for myself. Very interesting insights, will be back for more! https://www.joyfy.com/
여기에 나열된 것이 중요하다는 것을 배우고 유용한 웹 페이지에 링크를 제공합니다. 홈타이
This money was supposedly used for trading and investing, and Ketan got into legal trouble When this alleged loan came into the public eye. Ketan could not repay that loan at that time (in the early 2000s), and thus, the bank had to close down. https://medium.com/@sararafi.blogger/truth-behind-scam-of-madhavpura-mercantile-cooperative-bank-4e82428ff048
I read this article. I think You put a lot of effort to create this article. I appreciate your work. เล่นคาสิโน10บาท
You have a real ability for writing unique content. I like how you think and the way you represent your views in this article. I agree with your way of thinking. Thank you for sharing. Thanks for every other informative site. The place else may just I get that kind of information written in such an ideal means? I have a venture that I’m just now operating on, and I have been on the look out for such information. Impressive web site, Distinguished feedback that I can tackle. 스포츠토토
i really like this article please keep it up. alliant reloder 23
La formation en immobilier désigne le processus d’apprentissage des différents aspects du secteur immobilier, notamment le droit de la propriété, les méthodes d’évaluation et les techniques de marketing. De nombreuses personnes entrent dans le domaine de l’immobilier sans aucune formation officielle, mais prendre le temps de se renseigner sur le secteur peut vous donner un avantage considérable. La formation en immobilier peut être obtenue par des cours en ligne, des cours du soir ou des programmes à temps plein. Le type de formation que vous choisirez dépendra de votre emploi du temps et de votre niveau d’expérience. Que vous soyez débutant ou que vous cherchiez à faire passer votre carrière au niveau supérieur, la formation en immobilier peut vous apporter les connaissances et les compétences dont vous avez besoin pour réussir. Formation Immobilier
Artikel yang sangat menarik, jangan lupa melihat Syair Sdy dari kami, kami juga memberikan Kode Syair Sdy di dalam Forum Syair Sdy
The website is looking bit flashy and it catches the visitors eyes. ข่าวฟุตบอลล่าสุด
Check out our embroidered blouse selection on thesaffronsaga.com, For people who have a taste for luxury and grandeur, the splendor of silk and the comfort of cotton make for the correct choice.
https://www.thesaffronsaga.com/
PG SLOT size has a free credit level promotion, just apply for it. ทางเข้าเล่น pg slot
I tried to read through your writing in the midst of drowsiness. Because this article was written from a perspective that I’ve never thought about. I realized my knowledge and perspective were too narrow-minded. Thanks to you, I was able to see the world from a new perspective. Thank you so much. 토토사이트추천
Kartu Poker Online adalah situs poker online yang paling banyak diminati hingga kini. Situs Ini menyediakan berbagai permainan yang menarik yang membuat para pemain poker online betah bermain disini. situs ini juga sering mengadakan turnamen dengan hadiah ratusan juta, hal ini yang membuat para pemain lama betah bertaruh dan bermain judi poker online di situs kartupoker fun ini.
Gabung dewapoker asia sekarang dan dapatkan jackpotnya, situs ini menyediakan permainan poker online degan hadiah ratusan juta rupiah
This is also a very good post which I really enjoyed reading. It is not every day that I have the possibility to see something like this.. agencia marketing digital en houston
There are some types of Business Press Release Services
1) General News Release
2) Launch Press release
3) Product Press release
4) Expert Positioning Press Release
5) Event Press Release
6) Executive or Staff Announcement
7) Social Media Release
fastcomet Coupon
Urban Kitchens & Joinery specialise in bespoke kitchen & joinery design, construction, & project management solutions. Revamp your home today! kitchen designs Gold Coast
Nautical Shipping delivers comprehensive shipping agency services for containerised, project, heavy lift, dry bulk and break bulk cargo. shipper agent
Integrity Soils is committed to the transformation of agriculture to regenerative agriculture systems. We do this through our education, coaching and monitoring activities largely in New Zealand, Australia and North America Nutrient dense food
It has fully emerged to crown Singapore’s southern shores and undoubtedly placed her on the global map of residential landmarks. I still scored the more points than I ever have in a season for GS. I think you would be hard pressed to find somebody with the same consistency I have had over the years so I am happy with that. News
Great blog. เว็บข่าวกีฬาออนไลน์
Thanks for sharing nice information with us. i like your post and all you share with us is uptodate and quite informative, i would like to bookmark the page so i can come here again to read you, as you have done a wonderful job. Indiese Visa-aansoek
Eating a well-balanced diet can 123bet help you get the calories and nutrients you need to fuel your daily activities, including regular exercise.
I am a highly experienced therapist with over three years of experience in my field, and I take pride in providing exceptional customer service to all of my clients. Body to body massage in HSR layout
i am Shopia from bangalore, we have Body massage in HSR layout. We provide best service in the city for body massage and other services like full body spa, female massage near me etc. Body massage near me HSR layout
Thanks to sharing of knowledges with us. Cool post with Enough of information
Body massage in HSR layouts
Polkadot is the first Polkadot press news distribution service that allows users to launch their own news networks at no cost with no limits on sharing or publishing content anywhere around the world.
토토 광고 홍보Do you want information? We’re providing the best information.
I appreciated your work very thanks SEO Services
Awesome this is excellent article very interesting สมัครเล่นคาสิโน10บาท
All Type of POS Systems Dubai & POS Software Dubai By Barcosofttech among one of the best POS Companies in Dubai provides quality automation, authentic sales report, customer managemen, inventory reports, etc. qr code scanners
Really a great addition. I have read this marvelous post. Thanks for sharing information about it. I really like that. Thanks so lot for your convene. selling credit card processors
Photos available on your site even though producing attention rapidly some quantity submits. คาสิโน 10 บาท
great work.
NBA 2K23
مكتب خدمات تعقيب بالسعودية
مكتب خدمات التعقيب | افضل معقب بالمملكه | خدمات التعقيب في السعودية
شراء الاثاث المستعمل بالرياض
افضل شركة شراء اثاث مستعمل بالرياض
شراء الاثاث المستعمل بجدة
افضل شركة شراء اثاث مستعمل بجدة