Case Study: Parques Reunidos Optimises Revenue Management with FLYR
Tropical Islands in Berlin. Image: Courtesy of Parques Reunidos
(eap) The Madrid-based theme park and attractions operator group Parques Reunidos has more than 55 amusement parks and accommodation facilities in its portfolio worldwide. The leisure tourism operations range from luxury lodges and themed accommodation to animal parks and family entertainment centres, the well-known Tropical Islands water park in Brandenburg (Germany) and theme parks such as Parque Warner in Madrid and Movie Park Germany in Bottrop. In order to optimise the different pricing strategies, operational planning and revenue management associated with this number of operations, the group recently introduced a data-driven overall solution from the US technology company FLYR, which specialises in complex management systems, particularly for airlines and large hotel operations. Parques Reunidos has now published a case study on the restructuring of its processes.
“Our portfolio includes everything from large-scale theme parks with year-round high demand, to smaller water parks and cultural attractions that have highly seasonal traffic. Our old ways of manually managing the properties were not agile enough to adapt to the changing demands of each property, especially as customers began booking closer to their visit date. We needed a solution that could handle the complexity of our business and give us the ability to react to demand more quickly,” explains Iliana Cruz, Corporate Director of Performance, Revenue Management & Distribution at Parques Reunidos.
Over the last three years, the Parques Reunidos team has harmonised, standardised and digitised most of the existing processes and systems to achieve a more robust approach to managing the business and optimising the performance of both the accommodation and leisure facilities, as the company states. “One of the biggest deciding factors for us was FLYR’s ability to handle complex, multi-property portfolios with very different pricing needs. We also wanted a solution that could forecast demand to take care of the ‘no-brainers’ and to adapt to customer context and booking behaviour given our limited historical data,” says Cruz, adding that the FLYR platform learns from data patterns in order to make smarter and, above all, faster decisions.
Now that Parques Reunidos has recently started using the FLYR platform, it is already seeing success, as it confirms. Hugh Wood, Chief Commercial Officer at Parques Reunidos, says: “We’re delighted to be working with FLYR and already starting to see benefits to our business […].” The team is now better able to proactively monitor trends and demand and use heat maps and detailed insights to better predict customer behaviour. Thanks to this flexibility, budget variances were reduced by 40 per cent in the first three months and financial targets were achieved earlier and more effectively than expected, the group concludes.
“What I see is that pricing and revenue management thrive on both technological and human strengths. We are in a time of integrating legacy systems with new technology, data, market context, and people with machines. Thanks to FLYR, we are now moving faster into that direction. Our teams have enhanced their roles and value creation for the company and our customers. We are building an ecosystem with FLYR’s predictive and descriptive models, enhancing decision-making, accelerating agility, and evolving the way we work,” concludes Iliana Cruz. ■
