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Business Issue
The Singapore Flyer was under construction and would become one of Singapore’s most iconic attractions. However, due to the cost of the structure, finding additional revenue streams was key to its profitability.
Solution
The overall structure would hold commercial space, F&B, a botanic garden and other elements that could be commercialised beyond the traditional model. Finding and unlocking these values would be key to the speed of profitability moving forward. We were able to identify commercial opportunities through leasing of key commercial spaces, naming of the botanic garden, pouring rights in the VIP lounge and Champagne flights as well as other areas that helped to provide streams of revenue that the attraction management had not considered.
Outcome
The Singapore Flyer was able to open its doors with revenue streams that had added to its bottom line from day one. Along with the strategic positioning and beauty of the structure, the commercialization program led to stronger receipts from opening.