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.
Evolution, the world’s No. 1 online gaming service company,
on the official website of Evolution Gaming Korea.
에볼루션카지노
Evolution, the world’s No. 1 online gaming service company,
on the official website of Evolution Gaming Korea.
에볼루션카지노
메이저사이트 Do you want information? We’re providing the best information.
Kağıthane halı yıkama hizmeti, Sistem halı yıkama güvencesiyle sizleri bekliyor.
Good to know that The Marina Bay Sands Ice Skating Rink…Thanks for sharing it out hope to see more information like this…
http://www.gmail.com
Very interesting blog. Alot of blogs I see these days don’t really provide anything that I’m interested in, but I’m most definately interested in this one. Just thought that I would post and let you know. webinsider
Thanks for informative post. This post has helped me save many hours of browsing other similar posts just to find what I was looking for. I’m going to bookmark this post.
DESKTOP-I238E5L
good site. https://toryburch-outlet.us/
You could definitely see your skills in the work you write. The world hopes for more passionate writers like you who are not afraid to say how they believe. Always follow your heart.
welcome to my page; https://main7.net/
Thank you for the good writeup. It in fact was a amusement account it. Look advanced to far added agreeable from you! By the way, how can we communicate?
check my page; https://amd1080.com/
Evolution, the world’s No. 1 online gaming service company,
on the official website of Evolution Gaming Korea.
에볼루션카지노
Evolution, the world’s No. 1 online gaming service company,
on the official website of Evolution Gaming Korea.
에볼루션카지노
Evolution, the world’s No. 1 online gaming service company,
on the official website of Evolution Gaming Korea.
에볼루션카지노
i exactly needed to realize you all another time. I’m now not certain the things i might have carried out with out the real tactics mentioned with the aid of you regarding my enterprise. It previously turned into a real frightful circumstance for my part, off-road electric skateboard however looking at a specialized way you treated it made me to jump over satisfaction. I am simply thankful on your recommendation as well as want you discover what an incredible activity your are installing instructing other people through your blog.
메이저사이트 Do you want information? We’re providing the best information.
this is one of the kidney specialist hospital in Jaipur
I was looking it for so long , and i found it finally that i know it will help me . 바카라
upon reading in this blog im craving about this kind of food wanna want some more and wishing to havve one too. check this site too >> 파워볼사이트닷컴
Useful information. Lucky me I found your web site by chance, and I’m shocked 카지노사이트링크
I was looking it for so long , and i found it finally that i know it will help me . 토토사이트
MYB tekstil iş montu satış sitelerinden bir tanesi.
I am very happy to discover your post as it will become on top in my collection of favorite blogs to visit. bbctimes
Thank you for your text
El ilanı
Great Article it its really informative and innovative keep us posted with new updates. its was really valuable. thanks a lot. 카지노사이트링크
Thanks to this type of article it will enlighted my mind how to take care our environment and how to make more eco friendly. 카지노사이트링크
Thanks for sharing out the good blog…
facebook
Thanks for your lifesaver and time saver blogg.thanks for your important time
❤️ Chandigarh Escort chandigarh Call Girls
❤️ mohali escort mohali call girls
i m Poojaa an Independent chandigarh Model girl who is providing services for your enjoyment. You will enjoy one of the best orgasms of your life, you will see. Book me anytime at the best affordable rate.
Selection of escorts is made vigilantly after checking their kingdom of fitness and background. Girls with records of misconduct withinside the beyond aren’t made a part of our series.
zirakpur call girl zirakpur escort
i read a lot of stuff and i found that the way of writing to clearifing that exactly want to say was very good so i am impressed and ilike to come again in future.. starcmn
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.. ezwebblog
Electrical power dissertation web-sites on-line when you likewise be given clearly advertised with your web page. ลดริ้วรอย
i really like this article please keep it up. sportsnewstime
Nice information, valuable and excellent design, as share good stuff with good ideas and concepts, lots of great information and inspiration, both of which I need, thanks to offer such a helpful information here.
파워볼
You have made some decent points there. I looked on the internet for more information about the issue and found most people will go along with your views on this web site
카지노사이트
Slots, Bonus Buys and Live 카지노사이트 온라인카지노 우리카지노! – !LIKE for cash raffle
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. Really nice post! newsportsweb
Sarkari Naukri is to provide the latest information which includes vacancies in government sector or any other sectors across India and also provides employment news about Sarkari Exam like sarkari naukri, sarkari Job for various posts
Sarkari Exam is an excellent source of sarkari exam Sarkari Naukri, Rojgar Result, Sarkari Job for the candidates seeking employment from various Indian Government departments and organizations
Very useful information. Thank you so much for this great articles
blackpods
The info here is very interesting. thanks.
topescortsuganda.com
Thank you so much for these great articles. Very useful information.
HP 414A Toner
I admire this article for the well-researched content and excellent wording. I got so involved in this material that I couldn’t stop reading. I am impressed with your work and skill. Thank you so much. ทางเข้าslotxo
It proved to be Very helpful to me and I am sure to all the commentators here! Feadrs
mehndi design
Nice Very Nice Articles Blogs My Guys
https://www.ahmedabadescortsgirls.co.in
메이저사이트 추천 Do you want information? We’re providing the best information.
Hello I am Yiling independent girl from Taiwan. Thanks for your valuable post.
斷食營
This is very educational content and written well for a change. It’s nice to see that some people still understand how to write a quality post! 출장마사지
So wonderful to discover somebody with a few genuine thoughts on this subject. https://www.yadong.biz