Theme park revenue management with a dual admission policy

ABSTRACT

There are several efforts to increase the revenue of theme parks. One of them is to divide admission policy into normal and express admission. If a certain customer buys express admission ticket with more expensive price, it is possible to reduce the excessive waiting time by using the exclusive waiting line for some or all the attraction’s rides. In this study, decision-making elements such as the price of the express admission ticket, maximum allowed number of express admission ticket per day, and the type of rides which can apply the express admission ticket are investigated to maximize the revenue.

KEYWORDS:

• Revenue management
• pricing
• express ticket decision
• theme park
• genetic algorithm
• mathematical model
• operations research
• optimization
• waiting time
• customer satisfaction
• customer demand

Disclosure statement

No potential conflict of interest was reported by the authors.

ORCID

Young Dae Ko http://orcid.org/0000-0003-4069-3473

Kyungsu Park http://orcid.org/0000-0002-5386-5222

Additional information

Funding

This work was supported by a Dong-A University research fund.