If you have ever been unlucky enough to catch an Uber at a peak time then you will know all about dynamic pricing.
It is an algorithm whereby prices rise at busy times, but reduce when demand for services is lower.
Get ready for dynamic pricing at tourist attractions. And be ready to pay more at busy times.
Tourists wanting to visit the Empire State Building’s observation decks in New York City could soon be experiencing the joys of dynamic pricing.
It could cost more than $US100 per person to ascend to the observation decks on the 86th and 102nd floors.
The Empire State Realty Trust will implement dynamic pricing with prices to be determined by overall demand. Which they will determine, news portal Travel Mole reports. l
Tickets are currently priced from $79 for an adult, up to $96 for high-demand sunset viewing.
CEO Tony Malkin unveiled the surge pricing policy, saying: “We expect continued growth in 2025. We are still below overall 2019 levels of volume and have room for upside as visitation levels improve.”
Upside means you will pay more.
The building already has fluid pricing based on the time of day although using a pricing algorithm could see prices surge during high demand periods.
The new policy would algorithmically “monetize high-demand times through the day", Malkin said.
The building already has fluid pricing based on the time of day although using a pricing algorithm could see prices surge during high demand periods.
The new policy would algorithmically “monetize high-demand times through the day", Malkin said.
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