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Hyderabad, March 23 (PMI): The Telangana Transport Corporation (TSRTC) has decided to carry out the ‘Dynamic Pricing’ system in online ticket bookings. The new system is being made available in 46 services on Bangaluru route as a part of pilot project.
TSRTC Chairman Bajireddy Govardhan, MLA, and Managing Director & Vice Chairman V.C. Sajjanar, IPS, jointly shared the details of the dynamic pricing policy at a media conference held at Bus Bhavan here on Thursday. It was announced that the dynamic pricing system will be made available from March 27 for services to Bengaluru from Hyderabad,Warangal, Karimnagar and Khammam.
The TSRTC management said the dynamic pricing, is already used in other reservation services such as private bus operators, hotels, flight bookings, trains (tatkal service) and so on. The dynamic pricing system is where the ticket prices fluctuate depending on parameters like the number of passengers, traffic, demand and so on. 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 the 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, unseasonal ticket price would be 20 to 30 percent less than the original fare. Peak seasons would have the inverse effect respectively,” said TSRTC Chairman Bajireddy Govardhan, MLA and MD VC Sajjanar, IPS.
Passengers can book the seats of their choice through the online booking system. The tickets will be available online one hour before the service starts. They hoped that dynamic pricing system will help attract passengers for day-to-day services.
Bajireddy Govardhan and Sajjanar added that advance reservation facility is being provided in TSRTC buses up to 60 days. It is advised to book the tickets on the official website of the organization www.tsrtconline.in.
TSRTC Chief Operating Officer (COO) Dr. V. Ravinder, Joint Director Dr. Sangram Singh G. Patil, Executive Director (Operations) PV Munishekhar, CTM Jeevan Prasad, CEIT Rajasekhar, CFM Vijaya Pushpa and others participated in this media conference. (PMI)
