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TSRTC rolls out 'dynamic pricing' in ticket booking for 46 services
TSRTC rolls out 'dynamic pricing' in ticket booking for 46 services
- Pilot project on Bengaluru route services implemented in 46 services from March 27
- The dynamic pricing system will be made available from March 27 for services to Bengaluru from Hyderabad, Warangal, Karimnagar and Khammam
- Passengers can book the seats of their choice through the online booking system. The tickets will be made available online one hour before the service starts
Hyderabad: The Telangana State Road Transport Corporation (TSRTC) has decided to carry out the 'Dynamic Pricing' system on online ticket bookings. As part of a pilot project, a new system is being made available in 46 services on the Bengaluru route.
On Thursday, TSRTC Chairman and MLA Bajireddy Govardhan and MD VC Sajjanar jointly shared the details of the dynamic pricing policy at a press conference held at Bus Bhavan. It has been announced that the dynamic pricing system will be made available from March 27 for services to Bengaluru from Hyderabad,Warangal, Karimnagar and Khammam.
According to TSRTC, the dynamic pricing is already used in other reservation services such as private bus operators, hotels, flight bookings, trains (tatkal service). This system is where the ticket prices fluctuate depending on parameters like the number of passengers, traffic, demand. "If there is less traffic, the ticket price in this system will be lower than the normal fare. In case of high demand, there will be changes in the charges accordingly. The dynamic pricing system uses advanced data analysis and machine learning algorithms to determine the charges based on market demand," said an officer at TSRTC.
Private bus operators only strategy of pricing in other states is by comparing it with RTC. "Private operators are charging exorbitantly even on normal days. But on peak days, ticket prices are usually increased. We have decided to introduce the dynamic pricing system in online ticket booking to provide affordable and budget friendly travel when compared to the private operators and also reach more people. Due to this system, unseasonal ticket prices would be 20 to 30 per cent less than the original fare. Peak season would have the inverse effect respectively," said Sajjanar.
Passengers can book the seats of their choice through the online booking system. The tickets will be made available online one hour before the service starts. They expressed the hope that a dynamic pricing system will help attract passengers for day to day services.
Sajjanar further said that the intention for implementing a dynamic pricing system is to provide quality and better services to passengers. The advance reservation facility is being provided in TSRTC buses for up to 60 days. It is advised to book the tickets on the official website of the organization www.tsrtconline.in.
