ropeways.net | Home | 2019-09-04
LIFTOPIA: Driving More Revenue to Off-Peak Days
Many resorts and attractions know the pain of dealing with overcrowding on the weekends, while seeing fewer visitors during the week. By pricing each date according to its demand, Liftopia’s pricing model is able to drive more revenue towards off-peak days by offering more aggressive pricing on days with lower demand.This leads to a smoother visitation pattern, reducing overcrowding on the weekends and creating a better customer experience. Our Analytics team recently studied the extent to which a resort or attraction can expect their revenue on off-peak days to increase when working with Liftopia.
Among all Liftopia partners, weekday bookings accounted for 60.1% of total date-specific revenue during the 2018-19 season.1 This figure ranges from 35% to 86% and includes resorts of all sizes.
Midweek revenue, unsurprisingly, is largely driven by multi-day products. 1-day and 2-day tickets are booked most often on Saturdays, but 3-day products are booked most often on Fridays, and 4 and 5-day products are booked most often on Mondays. Offering multi-day tickets during the week can encourage customers to visit your resort or attraction on off-peak days.
After implementing a Liftopia-recommended pricing strategy, several partners have seen their share of midweek revenue increase substantially. Between the 2017-18 and 2018-19 seasons, one large destination resort increased the extent to which they followed Liftopia’s pricing guidance. As a result, the resort saw their proportion of weekday revenue increase by 8% year over year; they earned 53% of their total revenue during weekdays, compared to 45% during the prior season.
Another large resort in the Rockies region earned 57% of their total revenue from window sales on weekdays in the 2017-18 season. In the same season, they earned 64% of their total revenue on the Liftopia platform during the week. Customers who purchase on the Liftopia platform are more likely to shop around for the best prices, which may be during the week, than a customer who purchases at the window.
This pattern persists across industries as well. A medium-sized waterpark on the Liftopia platform had a specific goal to drive more midweek revenue. Before working with Liftopia, they saw 59% of their visits occur during the week. After Liftopia helped them develop a plan aligned with their goals, their proportion of midweek revenue dramatically increased – during their busiest month, they earned 70% of their revenue on weekdays.
By selling tickets on the Liftopia platform, your resort can drive more customers to visit on weekdays, reducing the crowds on busy weekends. If you’d like to learn more, reach out to email@example.com.
1The weekday revenue figure for all partners includes only partners who were open 7 days a week and earned at least $20,000 in revenue in the 2018-19 season. All weekday revenue percentages reported throughout the post exclude revenue from holidays (both weekday and weekend).