Tourists who want to watch the sunset from the Empire State Building's observation deck could soon be forced to exceed $100 or more.
That's because the owners of the renowned landmark decided to enact dynamic pricing. This is a scheme that allows you to earn money that is hated by increasing ticket prices during high demand.
Tickets for the 86th and 102th floor observation decks now start at $79 for adults and jump to $96 for prime display at sunset. If desperate Romantics raises costs under the surge pricing model, that number could exceed $100.
Stratospheric prices have led to protests from fans of King Kong's skyscrapers.
“The Empire State building was once an iconic and affordable NYC experience,” Atlanta chef Kyle Taylor, who has travelled frequently to the Big Apple over the years, told the Post. “Pricing it as a gorgeous appeal adds to the growing city's exclusiveness. In general, I'm not a fan.”
The new pricing model was revealed during a revenue call on Thursday by Tony Malkin, CEO of Empire State Realty Trust.
“We look forward to continuing growth in 2025,” Malkin said. Crain's New York first reported the move. “We are still below the overall level of volume for 2019 and there is room for a rise as visit levels improve.”
According to the Empire State Building website, ticket prices for beloved tourist decks already fluctuate based on time and are rising to the highest level at sunset.
But even at their cheapest time, a trip to the top floor of New York Skyline Staples requires a family of five for around $400. This is a big jump from a $1.10 ticket to an observatory in a building in the 1930s, or a $55 price just 15 years ago.
Dynamic pricing systems employ algorithms to raise prices even further during high demand. For example, it is unclear how expensive, high demand tickets will be won at sunrise.
Empire State Realty Trust did not immediately respond to requests for comment.
Jurga Rubinovaite, a Belgium-based travel writer behind the blog's full suitcase, was splattered over tickets while visiting the Empire State Building last year. Despite her tall price tag, she said the experience was worth it.
Still, she told the Post, “They will introduce family tickets or bigger discounts at a quieter time for their families.”
“An iconic attraction like this should be something that everyone has the opportunity to experience at least once,” she added.
Dynamic pricing is adopted by many major companies, including Uber, Amazon and Airbnb. All of these rely on their own algorithms.
Wendy faced backlash last year after announcing plans to use digital menu boards to shift to dynamic models. Fast food chains later revealed that they use this technique to offer discounts when their business is slow, but do not raise prices at peak times.
Some music artists like Bruce Springsteen and Oasis are robbing the heat after partnering with Ticketmaster, which uses surge pricing, selling seats to the concert.
Empire State Realty Trust reported $28.5 million observatory net profit in the fourth quarter, up 6% from the previous year.
Total of 2024 net income was $99.5 million, an increase of 5.8%, up 5.8% from the previous year.
The company expects net profits to be between $97 million and $122 million this year, but Cole analysts say it is a fairly flat growth forecast.
Malkin believes this stagnant growth is attributed to uncertainty about tourism trends in 2025. He said direct flights from China to New York are far from pre-pandemic numbers, and geopolitical tensions could make the US an unattractive place for Europeans.
“As a European tourist brand, America is under some kind of threat,” he said. “I've seen this in my previous administration.”
