Surge pricing makes its way to restaurants
HOUSTON – Looking forward to a meal out on Friday night?
Well, your wallet may have just gotten a bit lighter.
Restaurants worldwide have taken a page out of Uber's playbook and have started instituting surge pricing for peak-hour meals.
If you have used a rides-hare, like Uber or Lyft, you are familiar with the concept.
Rides at the busiest times in popular locations suddenly cost double what you would normally pay.
You already see the trend in airline tickets and hotel bookings, but now it has made its way to your meal time, too.
Bloomberg recently reported that a popular London restaurant instituted the idea and eateries across the United States are taking notice.
Many owners see it as a way to increase traffic during slower hours.
You may not realize it, but you have likely already seen this in action.
Early-bird pricing and happy-hour specials are a couple of examples of surge pricing at work.
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