Ah, the holiday season. It’s the most wonderful time of the year—at least, if you believe the classic song. But for New York’s event industry, the ghosts of holidays past were more humbug than holly jolly.
Not this year. Corporate holiday parties are back, the season is shaping up to be a festive one, and the event industry is feeling the spirit. While business picked up last year over 2002, this year is looking even better. “There’s more of an upbeat feeling for this holiday season,” says Fred Seidler, director of sales at Metropolitan Pavilion. “People do want to celebrate, and I think it’s going to be a much better season than last year.” He’s already seeing proof: In early November, his 30,000-squarefoot venue’s December bookings were already up 20 percent from last year.
Seidler isn’t the only one feeling optimistic about the season, either. Other large venues are seeing a surge as well. By late October, just six days were available for booking in December at Capitale, the giant bank-turned-event-space on Bowery. Gotham Hall had just a couple of dates left for the holiday season, as did Bridgewaters. “Last year, when October 1 came around I was nervous—I had less than half of what I have closed on the books now,” says Cheryl Kahn, director of catering for the Glazier Group, which owns Bridgewaters. “This year, people got approval earlier. We had 10 [holiday] dates booked in March.”
Not only were clients booking dates earlier, they were also bigger. Kahn says the average corporate holiday party at Bridgewaters this year is for 400 to 500 people, compared to last year, when the average was closer to 250 guests. The improving economy is the number one reason cited for the improvements.
With business up, it makes sense that budgets would follow, and venue managers and caterers say they are—to an extent. Joanne O’Connor, director of catering at Capitale, says that as a rule, her corporate clients, which include Merrill Lynch, “are definitely spending more money this year.” She estimates that spending is up at least 15 to 20 percent. Glazier Group’s Kahn is also seeing a 20 percent increase in spending from her corporate clients this holiday season.
But not everyone is seeing an increase. B. Allan Kurtz, managing director of Gotham Hall, says that budgets for most of his clients have remained constant this holiday season—and as a result, Gotham’s prices have “held the line wherever possible.” And some companies are even cutting budgets. Karin Bacon, of Karin Bacon Events, is producing JPMorgan Chase’s annual holiday festival for 4,000 employees this year, but with a smaller budget
than she was given last year (she won’t say how much smaller). “We were kind of surprised,” she admits, “but we’re trying to make it as wonderful as ever.”
Even with expanded budgets, companies are taking pains not to appear overly extravagant, says Penny Glazier, co-owner of the Glazier Group. “The mind-set has changed; companies are very careful about the dollars they spend,” she says. “They want to entertain nicely, but without the extravagance of years prior.” Jessica Alton of Thomas Preti Caterers agrees. “Companies don’t want to appear ostentatious, even if they’re having a great year,” she says.
So where are companies spending their extra dollars? At Capitale, O’Connor says there’s an emphasis on wider selections of food for corporate holiday events, in the form of ethnic food stations. They’re also spending on details: “They’re going for better entertainment—people want to get a fabulous band—and bringing in specialty lighting.”
Another trend this year is making the company shindig interactive (and we’re not talking about Bob from accounting hitting on the caterwaiters). Giselle Miller, director of special events for Court TV, says this year’s holiday party will be held at Etoile and will likely include karaoke (an addition that might get more use once employees have enjoyed the open bar for a few hours). She’s also willing to extend the open bar if necessary. “If people are having a good time, we won’t shut the party down.”
Elisa Shevitz, vice president of corporate communications for American Express Publishing, says its holiday event will include a corporate pep rally for 400 employees at the Equitable Building. There, employees will be treated to guest speakers, editor panels, skits, and behind-the-scenes movie vignettes as well as a brand-new awards program designed to recognize individual and group accomplishments. The pep rally will be followed by lunch at Osteria Stella. (Last year’s lunch was at Noche.)
Glazier Group’s Kahn has a good idea why companies are more willing to fete their employees this year with awards and open bars. “It’s been a rough three years for everyone,” she says, “and it’s time for companies to say thank you.”
—Erika Rasmusson Janes
Photo illustration: Toni Lucatorto
Not this year. Corporate holiday parties are back, the season is shaping up to be a festive one, and the event industry is feeling the spirit. While business picked up last year over 2002, this year is looking even better. “There’s more of an upbeat feeling for this holiday season,” says Fred Seidler, director of sales at Metropolitan Pavilion. “People do want to celebrate, and I think it’s going to be a much better season than last year.” He’s already seeing proof: In early November, his 30,000-squarefoot venue’s December bookings were already up 20 percent from last year.
Seidler isn’t the only one feeling optimistic about the season, either. Other large venues are seeing a surge as well. By late October, just six days were available for booking in December at Capitale, the giant bank-turned-event-space on Bowery. Gotham Hall had just a couple of dates left for the holiday season, as did Bridgewaters. “Last year, when October 1 came around I was nervous—I had less than half of what I have closed on the books now,” says Cheryl Kahn, director of catering for the Glazier Group, which owns Bridgewaters. “This year, people got approval earlier. We had 10 [holiday] dates booked in March.”
Not only were clients booking dates earlier, they were also bigger. Kahn says the average corporate holiday party at Bridgewaters this year is for 400 to 500 people, compared to last year, when the average was closer to 250 guests. The improving economy is the number one reason cited for the improvements.
With business up, it makes sense that budgets would follow, and venue managers and caterers say they are—to an extent. Joanne O’Connor, director of catering at Capitale, says that as a rule, her corporate clients, which include Merrill Lynch, “are definitely spending more money this year.” She estimates that spending is up at least 15 to 20 percent. Glazier Group’s Kahn is also seeing a 20 percent increase in spending from her corporate clients this holiday season.
But not everyone is seeing an increase. B. Allan Kurtz, managing director of Gotham Hall, says that budgets for most of his clients have remained constant this holiday season—and as a result, Gotham’s prices have “held the line wherever possible.” And some companies are even cutting budgets. Karin Bacon, of Karin Bacon Events, is producing JPMorgan Chase’s annual holiday festival for 4,000 employees this year, but with a smaller budget
than she was given last year (she won’t say how much smaller). “We were kind of surprised,” she admits, “but we’re trying to make it as wonderful as ever.”
Even with expanded budgets, companies are taking pains not to appear overly extravagant, says Penny Glazier, co-owner of the Glazier Group. “The mind-set has changed; companies are very careful about the dollars they spend,” she says. “They want to entertain nicely, but without the extravagance of years prior.” Jessica Alton of Thomas Preti Caterers agrees. “Companies don’t want to appear ostentatious, even if they’re having a great year,” she says.
So where are companies spending their extra dollars? At Capitale, O’Connor says there’s an emphasis on wider selections of food for corporate holiday events, in the form of ethnic food stations. They’re also spending on details: “They’re going for better entertainment—people want to get a fabulous band—and bringing in specialty lighting.”
Another trend this year is making the company shindig interactive (and we’re not talking about Bob from accounting hitting on the caterwaiters). Giselle Miller, director of special events for Court TV, says this year’s holiday party will be held at Etoile and will likely include karaoke (an addition that might get more use once employees have enjoyed the open bar for a few hours). She’s also willing to extend the open bar if necessary. “If people are having a good time, we won’t shut the party down.”
Elisa Shevitz, vice president of corporate communications for American Express Publishing, says its holiday event will include a corporate pep rally for 400 employees at the Equitable Building. There, employees will be treated to guest speakers, editor panels, skits, and behind-the-scenes movie vignettes as well as a brand-new awards program designed to recognize individual and group accomplishments. The pep rally will be followed by lunch at Osteria Stella. (Last year’s lunch was at Noche.)
Glazier Group’s Kahn has a good idea why companies are more willing to fete their employees this year with awards and open bars. “It’s been a rough three years for everyone,” she says, “and it’s time for companies to say thank you.”
—Erika Rasmusson Janes
Photo illustration: Toni Lucatorto
