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.
สล็อตpgเว็บตรง ยินดีต้อนรับเข้าสู่ CLUBRED666 สล็อตpgเว็บตรงออนไลน์หากนักลงทุนท่านไหนประสบปัญหาหรือไม่เข้าใจตรงไหนก็สามารถสอบถามน้องๆแอดมินของทางเราได้ตลอด 24 ชม.เลยนั้นเอง และทางสล็อตเว็บตรงของเรายังมีเกมที่เป็นที่นิยมในหมู่นักลงทุนเรียกได้ว่าเป็นค่ายเกมอันสล็อตอันดับ 1 ของโลกเลยก็ว่าได้เป็นสล็อตเว็บตรงที่มีผู้เล่นจากทั่วทุกมุมโลกเข้ามาเล่นกันเป็นจำนวนมากนั้นก็คือสล็อตpgเว็บตรงค่ายเกมสล็อตเว็บตรงที่ไม่ผ่านเอเย่นหรืออื่นๆ เป็นค่ายเกมที่กำลังเป็นที่นิยมในสมัยนี้ด้วยลูกเล่นต่างๆมากมายภายในเกมสล็อตpg อีกทั้งยังมีเอฟเฟคเสียงและกิจกรรมมากมายภายในตัวเกมสล็อตpgให้นักลงทุนทุกท่านได้ร่วมสนุกกับกิจกรรมของเกมสล็อตpg
bebek beşikleridetaylı bilgi için tıklayın
Whether for work or pleasure, there will inevitably come a time when you need a taxi’s services. Numerous modes of transportation are available with CabTime. Our Reading Taxis are best known for our top-notch services, and can transport you to and from every airport in the UK. We offer a full selection of commercial, executive, MPV person’s carriers, and chauffeur services at affordable prices to fulfill all of your travel needs. Every service by each Reading Taxi is performed expertly by licensed drivers who have received training to deliver the best service possible. Taxi In Reading
This is very good and useful information.
토토사이트
Perfect Why E-commerce Is So Important
Nice How to Overcome 5 Years Syndrome?
오피사이트I’m confident that it’s a major. We’ll only provide the best games.
Bu web sitesi benim özlemim, çok iyi tasarım ve stil ve mükemmel içerik.
스포츠토토링크는
Thanks for sharing the list of do follow blogs but I cant comment on Basicblogtips, Kong technology and Pub articles. Rowman is a unfollow blog now. Please remove those blogs from your do follow commenting site list.
우리카지노
Great article! All the articles you have, they enjoy reading and learning a lot. Your article is very helpful for me. I hope you will continue to write such good articles as well
카지노사이트
I love you more than I can say 구글 상위 노출
I hope you write more articles like this. I’m your biggest fan.
7m
Most of the time I don’t make comments on websites, but I’d like to say that this article really forced me to do so.
먹튀검증순위
Let go of the less important things. It can help 123bet you to leave certain tasks to someone else.
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.. CCI 200 PRIMERS
I wanted to thank you for this excellent read. This is a really good post here. Thanks for such post and please keep it up. Great work.
If you’re planning to study in UK. So now apply for upcoming January 2023 intake in Best UK Universities.
Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I’ll be subscribing to your feed and I hope you post again soon. CCI SMALL PISTOL PRIMERS
สล็อต789 เว็บตรง ไม่ผ่านเอเย่นต์ ทางเข้าเล่นสล็อต มือถือ ที่ดีที่สุด เกมคาสิโนออนไลน์ ไพ่บาคาร่า ดาวน์โหลดแอพสล็อต สล็อต 789
안전이 확보된 곳이기 때문에 안전한토토사이트,안전토토사이트라고 합니다. 안전카지노먹튀
We sell perfect money e-voucer. You can pay with paypal or credit card. You may also get ukash instead of e-vouchers. Quick and easy. PerfectMoney mit Kreditkarte kaufen
UFC Fight Negotiations against Nate Diaz in Game 3 against
McGregor McGregor VS Negotiations
Thanks for sharing this wise and mindful content.
토토사이트웹
Discover 7 ways to step into your divine feminine power and radiate feminine energy throughout your daily life. feminine power art
There are particular dissertation online sites over the internet if you ever buy of course proclaimed in the site. 토토사이트추천
Your work is very good and I appreciate you and hopping for some more informative posts สล็อตpg
Great blog. Thank you for sharing information
Keep Going on.
Visit for best motion sensor light for home in Vadodara.
black leather jacket Perfect for everyone who is looking for a great Black leather jacket, good that I was able to get it while it was on sale. I saw an ad before it was without the discount and didn’t want to pay for it, but because it’s on sale now, I got it immediately. Recommend
Interesting topic for a blog. I have been searching the Internet for fun and came upon your website. Fabulous post. Thanks a ton for sharing your knowledge! It is great to see that some people still put in an effort into managing their websites. I’ll be sure to check back again real soon. Віза в Туреччину онлайн
Boşanma Avukatı arıyorsanız sayfamıza tıklayın.
very interesting ติดต่อ hokabet
Cheapest Pet Insurance for Cats : How Does It Work?: How Does It Work? We often seek for solution for our queries i.e Is Insurance for cat worth?, What does the insurance policy cover in Cat Insurance, does pet insurance cover conjunctivitis,
I’m glad I found this web site, I couldn’t find any knowledge on this matter prior to.Also operate a site and if you are ever interested in doing some visitor writing for me if possible feel free to let me know, im always look for people to check out my web site. smp nyc
Syair Sdy adalah kumpulan syair sydney dari berbagai sumber dengan kode kode angka sdy,yang merupakan Prediksi Syair Sdy hari ini jitu dan akurat, isi postingan ini merupakan kumpulan gambar atau forum syair sdy.
Awesome blog. I enjoyed reading your articles. This is truly a great read for me. I have bookmarked it and I am looking forward to reading new articles. Keep up the good work! easyuefi professional
kami akan memberikan Syair Macau yang pastinya akan sangat membantu para pembaca sekalian dalam bermain togel. Syair – syair togel yang kami tampilkan di situs ini sudah sangat terpercaya dan banyak menjadi acuan para togellovers selama ini, nah langsung saja kami tampil kan Syair Kampleng, Syair Nagamas, Syair Semar Mesem, Syair Pak Tuntung, Syair Mbah Buyut, Syair Arjuna, Syair Srikandi, Syair Dewi Bulan, Syair Judge Bao, Syair Kuntilanak, Syair Pantai Selatan, Syair Naga Jitu, Syair Mbah Petruk, Syair Ayam Jago, Syair Kuda Lari, Syair Wiro Sableng, Syair Bandot Sakti, Syair Raja Shio, Syair Pue Baraka, Syair Kuda Mas, Syair Bunga Desa, Syair Gerhana Bulan, Syair Mbah Otong, Syair Qilin, Syair Bintang.
Wohh just what I was looking for, regards for posting. 7m
From some point on, I am preparing to build my site while browsing various sites. It is now somewhat completed. If you are interested, please come to play with bitcoincasino !!
…
Why couldn’t I have the same or similar opinions as you? T^T I hope you also visit my blog and give us a good opinion. majorsite
Thanks for Nice and Informative Post. This article is really contains lot more information about This Topic
jokerbet
Amazing articles and helpful information you put there. Repost and keep sharing. thank you
jokergame
Makes all gamblers able to defeat more rewards from the dg casino website.
It’s a good option for an aspiring investor because in show betting mode. Because it can be played for free, no need to pay, no fees and charges for any service.
This allows investors to practice their skills and build their skills with your favorite team before you start betting on dg casino
By being embraced by January and the warm seeking, wisdom is much valued in the spring breeze. It gives and saves the spring wind, which is abundantly spring wind. Blood fades from youth, and youthful skin is the spring breeze. If not called to them, I am glad, giving, and with myself. There are all kinds of things, and soon to come. Yes, live happily and at the end of the fruit how much your heart will be on ice. Even if you search for it, the magnificent blood of love holds a large hug, what do you see here. It is a bar, from the days of January and the Golden Age.비아그라구매 For the sake of ideals, it is a bar, it will. Decaying beauty hardens, and bright sandy birds hold onto it.
Regular caffeine use alters your Nigoal brain’s chemical makeup, leading to fatigue, headaches and nausea if you try to quit.
This Website is fastest football result. 7m
بازی انفجار با بالاترین میزان ضرایب و سوددهی 100% در معتبرتربن کازینو آنلاین | اصول بازی انفجار بت در سایت کازینو انفجار با درگاه مستقیم بانکی و بونوس های ویژه برای کاربران در تمامی ایام سال | آموزش گام به گام بازی انفجار آنلاین از صفر تا صد با بهترین ترفند ها و روش های پیروزی قطعی بازی انفجار آنلاین
checkout the brel for more info
you have done a great job.
Follow the football scores here. A variety of information, focus on fast prices, great football tips every day, we also have ข่าวกีฬา
If you have old coins and notes then you can sell them for lakhs of rupees.
Nice post! This is a very nice blog that I will definitively come back to more times this year! Thanks for informative post. تصليح طباخ