After maintaining at the same price for the past nine years, Golden Village Multiplex is
increasing the ticket prices for the Gold Class halls with effect from 30th October 2008.
This price increase is the first increase since 1999 when Gold Class tickets were
launched at $25.00. Differential pricing was introduced at a later stage to reflect
weekday ($25.00) and weekend pricing ($30.00).
| WHO: |
Golden Village Multiplex, Gold Class Halls |
| WHAT: |
Price increase for the Gold Class Halls.
The new pricing for Monday to Thursday is $28.00.
Pricing for Eve of Public Holidays,Public Holidays, seasonal sneaks (seasonal
May, June, July, Nov and Dec) are at $36.00. |
| WHERE: |
At both Gold Class hall locations GV VivoCity and GV Grand at Great World
City. |
| WHEN: |
With effect, 30th October 2008. |
| WHY: |
GV multiplex has finally had to yield to escalating operating costs. The increase in
operations, labour and utilities cost, had till now, been absorbed by GV Multiplex. There
is no ideal time for a price increase, but with increasing overhead costs, the first price
increase after 9 years could not be held off any longer. |
The breakdown of the price increase is as follows:
7% of ticket costs goes towards the GST. Film hire is a huge component of ticket cost,
amounting to close to 50% of the total ticket price. The balance goes towards operating
costs (labour, utilities, rental of premises, maintenance and upkeep of equipment and
premises) and profit before tax.
For more information please contact:
Customer Service at customersvc@goldenvillage.com.sg or 6311 9162
Cinema Type |
Days |
New Ticket Price with effect 30 October 2008 |
| Gold Class |
Mon-Thu |
$28.00 |
Fri-Sun, Public
Holiday and Eve
of Public Holiday/Seasonal Sneaks |
$36.00
|
*Seasonal sneaks applies to the eve of/and Public Holidays, seasonal May, June, July, November and
December School Holidays.
|
FAQ for Gold Class ticket price increase:
1. What ticket prices are being increased?
Only the Gold Class ticket prices are being increased. The prices for standard tickets
remain unchanged.
2. Why are the prices being increased? Especially so now, when the current economic climate is
gloomy?
Admittedly there is no ideal time to undertake a price increase. Having kept prices the
same for 9 years, since we introduced the concept of the Gold Class to Singapore, we
have had to yield to increasing costs. We seek that the understanding of our Gold Class
patrons for the need of a price increase, having kept it the same, for the last nine years.
3. Which halls will be affected?
The two Gold Class locations will be affected by the price increase. GV Vivo City has
three Gold Class halls. While GV Grand has one Gold Class hall that will reflect the new
pricing.
4. When will the increase take effect?
The adjustment in price will be effective 30th of October 2008.
5. Will food and beverage pricing on the Gold Class menus be increased as well?
There is currently no change to the pricing of items from our Gold Class menu. We will
regularly change the food offering on the menu. We will continually try to keep our food
and beverage options updated for our Gold Class patrons. Our wine list continues to be
popular with our Gold Class patrons. We will continue to offer special menus for specific
movie titles release in the Gold Class. The special menu offerings are also very popular
with our regular Gold Class patrons.
6. How do you expect this price increase to impact the business?
We expect that our Gold Class patrons will need some time to become aware of the new
pricing. We also envisage that they will be understanding to the price increase, being
mindful that we have not changed it for the last 9 years. Essentially, the 12% increase to
$28.00, equates to a 1.3% increase over the last 9 years. We have avoided as far as
possible to increase ticket prices on a regular basis.
7. Where does the $28 / $36 for a Gold Class ticket go towards?
Essentially, 7% of the ticket cost accounts for the GST. Film hire is a huge component of
cost, amounting to close to 50% of the total ticket price The balance cost goes towards
operating costs (labour cost, utilities, rental of premises, maintenance and upkeep of
equipment and premises) and profit before tax.
8. Why is there differentiated pricing for weekdays and weekends?
Differentiated pricing was introduced to help boost ticket sales for weekdays. |
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