Owner of LEGOLAND and other global resorts Merlin Entertainments plans to introduce surge pricing to its locations by the end of the year.
Merlin Entertainments Chief Executive Scott O’Neil has told the Financial Times that the company is working on a dynamic pricing model, a system commonly known as surge pricing, with plans for it to be introduced at its top 20 global attractions by the end of 2024 and major US attractions the following year. Surge pricing refers to a means of having flexible prices depending on supply and demand, often using machine learning. What Merlin has built so far is reportedly 'very intuitive', according to O'Neil.
“If [an attraction] is in the UK, it’s August peak holiday season, sunny and a Saturday, you would expect to pay more than if it was a rainy Tuesday in March,” he continued.
As it stands, there are already varying prices at LEGOLAND Windsor and LEGOLAND California, with cheaper prices tending to fall on Monday's and Tuesday's, as opposed to at the weekend. Judging from O'Neil's words, we can likely expect this to expand throughout the year and at more LEGOLAND locations, as well as other resorts within Merlin's portfolio.
This comes after Merlin Entertainments recently reported that the company's revenue was up by 1% year-on-year, reaching £914m in 2023.
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