Revenue Management in Hospitality Assignment Example | Topics and Well Written Essays - 2500 words

Revenue Management in Hospitality - Assignment Example The top 20 theme parks in North America have reported a footfall of 135.1 million with an annual rise of 2.7% over its 2012 levels, whereas top 10 theme parks in Latin America have witnessed a 3.8% growth in foot fall. Such increased level of foot fall is characterised by growth in leisure and international travels. Leisure travels witnessed an absolute growth of 11% from 2004 – 2013, whereas international arrivals saw a growth of 51%. The total visits of the top 20 theme parks in North America saw an absolute growth of 17% from 2004 – 2013, while the US population grew at 9% over the years. Disneyland opened in 1955 and Disneyland California Adventure was established in the year 2001 and offers host of services that include attractions, rides, shows, refreshment stands, merchandise shops and diners which are clubbed under various names like Carls land, Condor flats, Hollywood land, Buena vista street, paradise wharf, pacific wharf and bug’s land. It also extended its service portfolio to resorts and spas. Disney resorts have 2400 rooms, conference space of 180,000 and 50 vacation clubs. Down town Disney is another attraction that is spread across 15 acres that offers entertainment, dining and shopping facilities. It is next to Disneyland and Disney California adventure ((Disneyland. 2015a). Though Disneyworld is the market leader in the theme park industry, it still faces acute direct competition from Merlin entertainment and Universal studios. Disney’s theme park has witnessed highest total attendance of 132.5 million compared to Merlin and Universal group’s 59.8 million and 36.3 million. Merlin entertainment and Universal studio have witnessed high growth rate in foot falls from 2010 – 2013. All the three theme park groups have presence across various regions vis-a-vis US, Europe, Middle East and Asia. Merlin has more than 10 theme parks in different states of the US that makes Disney and Universal studios the only competitors in