
Considering event venue price is one of the essentials in planning an event. In this post, you can learn about the factors that most impact these prices. We will explain in detail so that you can more easily manage your event budget.
Why Venue Matters for Event Success?
The wiser you are in choosing a venue, the more likely your event will be successful. Sometimes we shouldn’t be too frugal in choosing a place because attendee satisfaction is more important.
They must be comfortable while at the location and be able to get the most out of the event. Nowadays, we can find so many nearby venues, but unfortunately, not all of them are reliable. For example, if the venue is difficult to reach, this can have an impact on accessibility.
We must choose a venue that is easily accessible by public transportation or private vehicles. A strategic venue can also make it easier for more attendees to come to the location. On the other hand, the size of the venue can affect the attendee experience.
If we choose a space that is too small, it will be uncomfortable for them. But if you choose a large or spacious place, it may feel empty or quiet if not many people attend. Therefore, event organizers usually have to spend a lot of time researching locations.
They also need to study the details of the facilities included, such as WiFi access, lighting systems, sound systems, projectors, stages, and so on. More specifically, they need to consider how outdoor factors can support the event, such as spacious parking areas, valet parking, traffic directions, and so on.
We must know the details of the event we want so that it is easier to find a suitable venue.
What Impacts Event Venue Price Most?
The choice of venue can make your event stand out from others. The event can also be more memorable for attendees if it takes place at the right venue. However, sometimes the venue price can be an obstacle to renting the place.
The high event venue price has its own reasons because we can get more benefits from it. It is better to avoid being too frugal, especially if it means sacrificing the guest experience. In the points below, you can learn about the aspects that most impact venue rental prices:
Venue Fame or Popularity
If you rent a venue that is already well-known or often booked by big clients, you may have to pay more. The fame of a venue certainly has a specific reason, which is that the place has often hosted successful events in the past. You can tell if a venue is popular by the number of public figures who choose that place.
If a venue has a good reputation, it usually means that the place is premium, so the rental cost is higher. Premium event venues have well-maintained facilities and professional management. So, you can get the best experience when booking the place.
But does venue fame determine everything? Not always. You can also find new event venues that offer premium facilities and professional services. It’s better to do more thorough research to get the best venue options. Once you have your list of the best venues, just adjust them to your event preferences.
Booking Duration
Although the longer you rent, the more expensive it is, venues usually offer discounts for longer rental durations. Some venues divide rentals into several sessions, such as morning, afternoon, and evening, and each session may have a different price. Ask for details about the venue’s pricing system to see if the discount for longer rentals is worth it.
You may have to pay more if you book during peak season, although it may not be too significant. But if you book early, before the peak month, you can get the standard event venue price. Determining the booking duration must be detailed because if it is too tight, you may have to pay overtime fees.
When the event does not start on schedule, and the agenda is too long to finish as planned, there will be additional charges for that.
Location Factor
Although a strategic location can make it easier for guests to access, it can sometimes be more expensive than areas further away from the city center. Every rental building located near the city center has a higher sale and rental price. If you want to book a venue in a strategic location, plan your budget wisely for an expected ROI.
A solution you can consider is to avoid venues in areas that are farther from urban areas, but not too far. More than that, check whether your target audience is in an area that is suitable for the venue.
Amenities Value
The completeness of facilities and other specifications can affect the event venue price. If you want to make it easier to prepare for the event, look for a place that provides more complete essential equipment. One of them is audiovisual gear, which is standard equipment provided by most venues.
The event team no longer needs to look for vendors to prepare sound systems, projectors, and so on. But if the available audiovisual equipment is still insufficient for the scale of the event, you can seek external assistance. If you don’t want to bother, you can look for venues that offer all-inclusive packages.
The capacity of the venue can also impact the rental price. If you rent a venue with a large capacity, it won’t be a problem if there are many guests. Another thing to consider is the decorations that are sometimes included in the venue package. If you book a venue that includes decorations, prepare a relevant theme so that it can be discussed.
However, venues don’t always allow external catering and decorations. You may have to pay additional fees if you want to use vendor services at the venue. These are some of the factors that can impact event venue price, and there are certainly others.
















