Gregg Borman SVP-FEC Division Palace Entertainment

Transcription

1 Gregg Borman SVP-FEC Division Palace Entertainment

2 The Future of The FEC Industry We are recovering from three years of challenging times; are you in a position to ride the recovery? Now the Mideast crisis and gas prices on the rise. Our industry is changing rapidly; did you reinvest or did you hold onto cash until the economy improved? Loosely defined but really it s about making memories. FEC (Family Entertainment Center)- LBE (Location Based Entertainment) CBE (Community Based Entertainment) - CEC (Children Entertainment / Education Center) Be the best at creating a better WOW and be consistent in delivering it! Many of our guests will never visit Disney parks.

3 The Future of The FEC Industry Top 5 Challenges Constantly changing in-home entertainment technology. Increased options for the entertainment dollar and economic factors keep discretionary spending lower. The need to reinvest into your facility and keep it fresh is greater today than ever before. Today s guests can quickly spread word of dissatisfaction through Social Media. The failure to swiftly react to the first signs of guest dissatisfaction and reversing revenue trends. Our Defenses Incorporate a SWOT analysis into your planning. (evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a new project or in evaluating your business ) Be unique in delivering a consistent memory -The WOW factor! Give them a reason to socialize at your park. Stay connected use Social Media and the internet to your advantage. Use technology to give a better experience to your guests. Network with your peers The Basics still work!

4 2011-Trends of Our Industry We are seeing bowling centers incorporate FEC components and Traditional FECs incorporating bowling into their mix. Card Systems Loyalty Programs -Online Sales and Party Booking. Online networking and Social Media management. Laser Tag cannot Be Boring Think Themed Arenas. Go-karts need to be fast speed sells- Mini Golf & ADA Are your rides earning their keep? Water spray grounds in conjunction with or in place of bumper boats. More capacity, increased length of stay, added F & B revenues. More emphasis on F&B quality menu items encourage guests to stay and eat. Add some value to encourage combo purchases.

5 2011-Trends of Our Industry Digital menu boards Improved way signage Automated and digital attraction instructions. Frequent surveying of your guests-in-house, survey monkey, web site, kiosks - Stay connected to what your guests want and think. React quickly to what your guests are telling you. If you are not focused yet on birthday parties and growing the number you host you are already behind the curve. Get on board Now! Network with your peers-bring in a consultant to help you-solicit input from your party team on what your guests want. Ambiance-Lighting, Sounds, Visual what sets you apart?

6 Template for Decision Making Process for New Equipment / Attractions With Capital Tight You Must Plan and Follow It

7 Fully automated party and event bookings Links directly to your website to streamline the sales process Customers can book parties online 24/7 Customized to look and feel like your current website Create a stress-free party booking experience for your customers Increase revenue through Add-Ons Full Customization Add-Ons

8 CJ Barrymore s sees spike in revenue of up to 40%! Mr. Rick Iceberg, IAAPA FEC committee member and owner of CJ Barrymore s Sports and Entertainment $30k+ in labor cost savings per year! - Mr. Robert Peppard with Combat Sports Outdoor Laser Tag Any FEC not using online booking is wasting time and money. Mr. Jeff Hooten, Owner Hoot s Party Zone