Palace Entertainment operates theme parks, water parks, and family entertainment centers throughout the United States and engaged Integrated Insight to conduct strategic revenue assessments for three locations: Lake Compounce Theme Park in Connecticut, Raging Waters Water Park in San Dimas, CA, and Boomers Family Entertainment Center in Irvine, CA.
Through a holistic assessment of product, pricing, packaging, marketing, and distribution, Integrated Insight was able to recommend higher pricing for the theme park to align with market perceptions and strong price value, eliminate nuisance parking fees, reduce discounting, and develop stronger yield on group pricing.
Similar analysis at Raging Waters resulted in recommendations for higher single day pricing, introduction of annual pass product, elimination of discounts during peak summer weekends, more targeted promotions, and reduced group discounting.
For Boomers, recommendations called for elimination of a complex points systems in favor of two tracks of play: Attractions and Video. The tracks could also be combined for an all-inclusive option, and were priced in two hour, four hour, and all-day increments.
Across all three locations, EBITDA improvement of 10% was identified.
Market Assessment, Marketing, Sales, and Distribution Strategies, Operational Efficiency and Process Improvement, Pricing Strategy, Revenue and Profit Optimization