Capital Economy, Business and Finance
The “wow” factor of London’s tallest building is falling away. The View from The Shard viewing platform (separate from the Qatari state’s ownership of the Shard itself) hasn’t made a profit since 2019. The operating company’s 2023 report blamed last year’s losses on inflationary pressures and a closure for repairs (which was financially compensated), but alarm bells should be ringing. Revenue fell across ticket sales, events, photography and food and drink. It’s not 2013 anymore. Since then and among others, Sky Garden opened at the top of the Walkie Talkie, now a hotspot for influencers and romantic dates. Horizon 22 opened in London’s second tallest building, offering 360-degree views of the city for free. And the London Eye’s popularity among visiting tourists remained sky high. While The View from The Shard prides itself on its “premium” product, punters don’t seem willing to fork out £28.50 each for it. Bosses are plunging money into marketing, but the Shard isn’t going to be the UK’s tallest tower forever. What will justify the ticket price then?
