If corporate spending on holiday parties this year doesn’t resemble the roaring 1990’s, it doesn’t call to mind the post-September 11, 2001, slump either. While some companies are keeping pace with last year with similar budgets, others’ funds are shrinking. But across the board planners are looking to make the most of their investments by getting creative with the dollars they’re working with. And regardless of their budgets, companies will spend what they can to keep corporate holiday parties on the calendar in 2005.
Expanding the Guest List
If the traditional idea behind the office holiday party is to invest company dollars in the morale of employees, for some companies that may not be enough to justify the expense of a year-end blowout these days. And with corporations recognizing that events can meet measurable goals tied to business performance, some are adding a business-related purpose to the party beyond generally boosting the staff’s spirits by opening up guest lists to include clients, advertisers, marketing partners, media, and others whose attendance serves another business goal.
EMI Music Publishing vice president of external affairs Janice Brock, who is planning a party at the Rock Center Café on December 12, expects clients and artists as well as employees. “We started out [inviting] mostly employees and just a few guests; over the last 10 years or so, we’ve gradually opened up the list,” Brock says. (EMI Records still does a smaller-scale party for employees only.) “It’s a great opportunity for our artists, managers, and other industry executives to mix with each other and socialize.”
An event production firm owner adds, “People’s budgets are pretty tight—they may be spending more on events during the year, but then less on internal stuff that is not press related.”
Popular Science magazine will host a party at Times Square Brewery next week to celebrate its recent redesign; the mag’s staff will join a crowd made up mostly of clients. The party, intended to build ad revenue, will include an advance showing of The Producers at the Loews E-Walk Theater followed by hors d’oeuvres and cocktails at the brewery.
Some businesses are hosting intimate parties for their staff, and adding another blowout with clearer revenue-related goals. Trader Monthly magazine event planner Rachel Pine worked on a lavish December 7 event at the home of hedge fund manager and December cover subject Jim Hedges; approximately 100 readers will attend the party, with a separate intimate dinner party planned for staffers. Gotham magazine will have one party for clients and staff at the Royalton hotel to celebrate its latest issue, and an additional employees-only party at the Loft on December 13. And in addition to its intimate annual holiday party for its staff, Milk Studios cohosted a client event with MAC cosmetics and Le Book at the Lower East Side’s Stanton Social on December 6.
Getting the Most for the Money
With holiday party hosts focused on making the most of their budgets, there’s room for some creative cost cutting. Engineering firm Weidlinger Associates saved on its December 12 employee party at Thalassa restaurant by booking a Monday night, a less popular—and therefore less expensive—choice. (Still, a dress code requires gentlemen to wear jackets—a fancier touch over previous years.)
Smaller budgets can mean less money for food, and that means more bars, nightclubs, and lounges are getting corporate holiday party bookings while some restaurant bookings lag. Aram Sabet, owner of West Village nightclub 49 Grove is fielding about 25 calls a day for December bookings, with clients looking to economize on the food as much as possible. “Some people are not even looking to do passed hors d’oeuvres anymore, but baskets of food on buffet tables instead. It’s cheaper, easier, and [requires] less staff,” he says. “One client even had FreshDirect deliver there because it was cheaper.”
Although the B. R. Guest Restaurants is doing a swift business, with more requests for full-restaurant buyouts than last year, special events director Jennifer Ashare can still tell budgets are tighter. “People are still booking, but now there are more negotiations,” she says.
Making Memories
Unusual activities make for more buzzworthy events that guests remember amid all the season’s more traditional parties. “People are saying, ‘Look, my budget’s so limited. What can we do for a more memorable experience?’” says Sabet. The answer can be adding flair with games or activities—karaoke, anyone?
Casino and poker-theme parties have been an event trend for more than a year, and they’re popular choices for the holidays this year. Matrix hair care will have a casino night for employees, featuring event production from LDJ Productions and gambling with fake money bearing the faces of the company’s finance team. “There’s always a lot of effort put into the year-end party because it’s meant to be a celebration and appreciation event,” says Matrix senior manager of corporate events Nicky Freeman.
Food from a well-known restaurant can make for good memories too—even on a limited budget. And it doesn’t have to come from a fancy four-star restaurant. The Union Square Hospitality Group’s Blue Smoke barbecue restaurant has seen a huge spike in requests for drop-off orders this year—with one or two staffers from the restaurant delivering food to an office, typically at lunchtime. Union Square Hospitality’s Irene Holiastos says it’s less expensive than bringing a group to dine at the restaurant, particularly since the order is for food only, and not cocktails. “People feel like they’re getting something special—that they’re getting a meal from Blue Smoke—but the costs are lower,” she says.
Who’s Going Where
Whatever their budgets, companies are loath to cut out holiday events altogether—and both old and new venues took bookings early and filled their calendars, making coveted spaces hard to come by. “I can definitely tell you that the week of December 8 is jam-packed with parties,” says event producer Nicholas Garcea of New Hartford, New York-based Events Forum Inc., which is working on parties for ABC and Bear Stearns. “I did the site search. It’s very hard to hard to find [large-capacity] venues in Manhattan. You have to book a year or so in advance to be ahead of the game.” MTV Networks will return its annual party on December 8 to the Hammerstein Ballroom, one of the few venues in town large enough to accommodate all of its employees.
When choosing venues, companies in buzz-minded industries with young employees are naturally booking the newer, more talked-about venues in town. CondéNet will have its party at the André Balazs Hotel QT in Times Square, and Dennis publishing—parent company to Maxim, Stuff, and Blender magazines—will host a party at the year-old Glo nightclub for its 200 employees, sans spouses.
Other industries still stick with more traditional locations. Consistent with its past parties, law firm Orrick will celebrate the holidays with a party at the 21 Club. (“We’re a younger firm but tradition is important to the law and its practitioners,” an Orrick attorney told us.) The lawyers—and former lawyers—of the firm Morgan Lewis & Bockius are invited to celebrate with a party at Cipriani 42nd Street on December 12.
Some companies are even hosting their parties in their own new facilities. Matrix’s gambling party will be at the company’s space, the West Village Matrix Global Academy. And law firm Clifford Chance, which typically hosts its holiday parties at classic spaces like the Yale Club or the Grand Hyatt, will host this year’s party for 500 employees on December 15 at the firm’s brand-new conference facilities. “It’s a great new space,” says events manager Cynthia Jacquet. “We’re not doing it as a cost-saving measure. Our budget is consistent.”
—Alesandra Dubin
Posted 12.07.05
Related Stories
Ideas for Corporate Holiday Parties
Corporate Holiday Parties Bounce Back (Finally)
Expanding the Guest List
If the traditional idea behind the office holiday party is to invest company dollars in the morale of employees, for some companies that may not be enough to justify the expense of a year-end blowout these days. And with corporations recognizing that events can meet measurable goals tied to business performance, some are adding a business-related purpose to the party beyond generally boosting the staff’s spirits by opening up guest lists to include clients, advertisers, marketing partners, media, and others whose attendance serves another business goal.
EMI Music Publishing vice president of external affairs Janice Brock, who is planning a party at the Rock Center Café on December 12, expects clients and artists as well as employees. “We started out [inviting] mostly employees and just a few guests; over the last 10 years or so, we’ve gradually opened up the list,” Brock says. (EMI Records still does a smaller-scale party for employees only.) “It’s a great opportunity for our artists, managers, and other industry executives to mix with each other and socialize.”
An event production firm owner adds, “People’s budgets are pretty tight—they may be spending more on events during the year, but then less on internal stuff that is not press related.”
Popular Science magazine will host a party at Times Square Brewery next week to celebrate its recent redesign; the mag’s staff will join a crowd made up mostly of clients. The party, intended to build ad revenue, will include an advance showing of The Producers at the Loews E-Walk Theater followed by hors d’oeuvres and cocktails at the brewery.
Some businesses are hosting intimate parties for their staff, and adding another blowout with clearer revenue-related goals. Trader Monthly magazine event planner Rachel Pine worked on a lavish December 7 event at the home of hedge fund manager and December cover subject Jim Hedges; approximately 100 readers will attend the party, with a separate intimate dinner party planned for staffers. Gotham magazine will have one party for clients and staff at the Royalton hotel to celebrate its latest issue, and an additional employees-only party at the Loft on December 13. And in addition to its intimate annual holiday party for its staff, Milk Studios cohosted a client event with MAC cosmetics and Le Book at the Lower East Side’s Stanton Social on December 6.
Getting the Most for the Money
With holiday party hosts focused on making the most of their budgets, there’s room for some creative cost cutting. Engineering firm Weidlinger Associates saved on its December 12 employee party at Thalassa restaurant by booking a Monday night, a less popular—and therefore less expensive—choice. (Still, a dress code requires gentlemen to wear jackets—a fancier touch over previous years.)
Smaller budgets can mean less money for food, and that means more bars, nightclubs, and lounges are getting corporate holiday party bookings while some restaurant bookings lag. Aram Sabet, owner of West Village nightclub 49 Grove is fielding about 25 calls a day for December bookings, with clients looking to economize on the food as much as possible. “Some people are not even looking to do passed hors d’oeuvres anymore, but baskets of food on buffet tables instead. It’s cheaper, easier, and [requires] less staff,” he says. “One client even had FreshDirect deliver there because it was cheaper.”
Although the B. R. Guest Restaurants is doing a swift business, with more requests for full-restaurant buyouts than last year, special events director Jennifer Ashare can still tell budgets are tighter. “People are still booking, but now there are more negotiations,” she says.
Making Memories
Unusual activities make for more buzzworthy events that guests remember amid all the season’s more traditional parties. “People are saying, ‘Look, my budget’s so limited. What can we do for a more memorable experience?’” says Sabet. The answer can be adding flair with games or activities—karaoke, anyone?
Casino and poker-theme parties have been an event trend for more than a year, and they’re popular choices for the holidays this year. Matrix hair care will have a casino night for employees, featuring event production from LDJ Productions and gambling with fake money bearing the faces of the company’s finance team. “There’s always a lot of effort put into the year-end party because it’s meant to be a celebration and appreciation event,” says Matrix senior manager of corporate events Nicky Freeman.
Food from a well-known restaurant can make for good memories too—even on a limited budget. And it doesn’t have to come from a fancy four-star restaurant. The Union Square Hospitality Group’s Blue Smoke barbecue restaurant has seen a huge spike in requests for drop-off orders this year—with one or two staffers from the restaurant delivering food to an office, typically at lunchtime. Union Square Hospitality’s Irene Holiastos says it’s less expensive than bringing a group to dine at the restaurant, particularly since the order is for food only, and not cocktails. “People feel like they’re getting something special—that they’re getting a meal from Blue Smoke—but the costs are lower,” she says.
Who’s Going Where
Whatever their budgets, companies are loath to cut out holiday events altogether—and both old and new venues took bookings early and filled their calendars, making coveted spaces hard to come by. “I can definitely tell you that the week of December 8 is jam-packed with parties,” says event producer Nicholas Garcea of New Hartford, New York-based Events Forum Inc., which is working on parties for ABC and Bear Stearns. “I did the site search. It’s very hard to hard to find [large-capacity] venues in Manhattan. You have to book a year or so in advance to be ahead of the game.” MTV Networks will return its annual party on December 8 to the Hammerstein Ballroom, one of the few venues in town large enough to accommodate all of its employees.
When choosing venues, companies in buzz-minded industries with young employees are naturally booking the newer, more talked-about venues in town. CondéNet will have its party at the André Balazs Hotel QT in Times Square, and Dennis publishing—parent company to Maxim, Stuff, and Blender magazines—will host a party at the year-old Glo nightclub for its 200 employees, sans spouses.
Other industries still stick with more traditional locations. Consistent with its past parties, law firm Orrick will celebrate the holidays with a party at the 21 Club. (“We’re a younger firm but tradition is important to the law and its practitioners,” an Orrick attorney told us.) The lawyers—and former lawyers—of the firm Morgan Lewis & Bockius are invited to celebrate with a party at Cipriani 42nd Street on December 12.
Some companies are even hosting their parties in their own new facilities. Matrix’s gambling party will be at the company’s space, the West Village Matrix Global Academy. And law firm Clifford Chance, which typically hosts its holiday parties at classic spaces like the Yale Club or the Grand Hyatt, will host this year’s party for 500 employees on December 15 at the firm’s brand-new conference facilities. “It’s a great new space,” says events manager Cynthia Jacquet. “We’re not doing it as a cost-saving measure. Our budget is consistent.”
—Alesandra Dubin
Posted 12.07.05
Related Stories
Ideas for Corporate Holiday Parties
Corporate Holiday Parties Bounce Back (Finally)
Milk Studios cohosted a client event with MAC cosmetics and Le Book at the Lower East Side’s Stanton Social.
