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Admission Income and Historic Houses: Higher Revenue Is associated with Price Policy. More Services and Less Education.
Author(s) -
Hendon William S.
Publication year - 1983
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1983.tb01735.x
Subject(s) - visitor pattern , revenue , profit (economics) , business , agricultural economics , economics , finance , computer science , microeconomics , programming language
A bstract . A survey of 800 historic houses in England. Wales. Scotland and Northern Ireland , which produced detailed data on 108, indicates that restaurants, gardens and souvenir shops are most beneficially related to income. Collections increase visitor numbers, particularly for houses with larger revenues. The higher the number of amusements and services, the higher the annual income. But educational and interpretive services do not appear to increase visitor numbers. Houses have some latitude to increase admission charges. Only 20 percent of the properties showed a profit. With more effective and cost‐efficient advertising, an appropriate pricing policy and a reconsideration of promotional and educational programs, more might cover their costs.