Hyderabad: The Telangana State Road Transport Corporation (TSRTC) has decided to carry out the ‘Dynamic Pricing’ system in online ticket bookings. This new system is being made available in 46 services on the Bengaluru route as a part of the pilot project.
TSRTC Chairman Bajireddy Govardhan, MLA, and Managing Director and Vice Chairman Shri V.C.Sajjanar, IPS, jointly shared the details of the dynamic pricing policy at a media conference held at Bus Bhavan in Hyderabad on Thursday.
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.
The management of TSRTC said that dynamic pricing is already used in other reservation services such as private bus operators, hotels, flight bookings, trains (tatkal service) etc.
The dynamic pricing system is where the ticket prices fluctuate depending on parameters like the number of passengers, traffic, demand etc.
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.
Private bus operators’ only strategy of pricing in other states is by comparing it with RTC.
“Private operators are charging exorbitant charges even on normal days. But on peak days, ticket prices are usually increased. We have decided to introduce a dynamic pricing system in online ticket booking in order to provide affordable and budget-friendly travel when compared to the private operators and also reach more people. Due to this system, the unseasonal ticket prices would be 20 to 30 per cent less than the original fare. Peak seasons would have the inverse effect respectively,” said TSRTC Chairman Bajireddy Govardhan, MLA and MD VC Sajjanar, IPS.
