At veSpace, we understand that corporate events are pivotal for building relationships, sharing insights, and celebrating milestones. Whether it’s a conference, team-building day, product launch or gala dinner, your event needs to run smoothly, and securing the right venue is key. With this in mind, we always recommend booking your events as early as possible.
Booking corporate events early is more important than ever due to rising demand and increasing costs. Day Delegate Rates (DDRs) have seen a significant increase over the past year, driven by high venue occupancy and inflation in hospitality services. With forecasts indicating that DDRs are set to continue rising throughout the year, securing your venue and suppliers early can lock in better rates and ensure availability at top locations. Early booking also provides more flexibility in planning, allowing for better event design, smoother logistics, and greater value for your budget.
- Securing availability
One of the most important factors when choosing a venue for your corporate event is availability. Many popular event spaces get booked up quickly, especially during peak seasons. The hotly anticipated Masters Suite at the Belfry Hotel and Resort has already received over £43m worth of enquiries, 5 months before it’s open for business. If you’re planning an event for the next quarter or even next year, waiting until the last minute may mean you lose out on your preferred venues. By booking early, you not only secure your desired location but also ensure that the venue meets your specific needs in terms of capacity, style, and facilities. The earlier you book, the more options you’ll have available, which can significantly enhance your event experience.
- Lock in the best prices
When booking an event venue, prices can fluctuate based on demand, location, and the time of year. Venues often offer more competitive rates for early bookings, and by securing your event early, you may lock in lower rates before any price increases. Additionally, if you book during off-peak times or book well in advance, you might be able to negotiate discounts or other perks, such as complimentary upgrades or added services. Early booking helps ensure you’re getting the best possible deal, allowing you to allocate your budget more effectively.
- Repeat custom
If your company hosts a repeat event, perhaps quarterly or annually and you were happy with your experience at the last venue, consider returning to that same venue each time. Establishing a relationship with a venue can result in reduced pricing and priority booking for future events. Venues often reward loyal clients with better deals, enhanced services, and guaranteed availability. Not only does this create consistency for your attendees, but it also simplifies the planning process since you’re already familiar with the venue’s layout and services.
- Book multiples in advance
Booking events for multiple years in advance is another effective way to secure your preferred venues and get the best prices. Many venues offer discounted rates for clients who commit to hosting events with them over a number of years. This long-term relationship can provide stability in terms of both cost and availability, while also allowing you to plan your corporate calendar with confidence. By booking multiple years at once, you’ll ensure that your key events are secure and that you’re maximising your budget for the long term.
Booking your corporate events early is a strategic decision that offers many benefits, from securing availability at busy venues to locking in the best prices. Whether you’re planning a single event or looking ahead to future years, early planning is key to creating successful, stress-free events that meet your company’s needs. At veSpace, we’re here to help you find the perfect venue and secure the best deal, ensuring that your next corporate event is a resounding success!
