The Ultimate Guide To Conference Hire Pricing in London

July 27, 2023

When planning your next conference in London, you might be looking to hire an external supplier to either hire space from or somewhere that will run your whole event. One of the major factors in this decision will be price and budget; after all, you want to help ensure the success of the event by not overspending.

There are many aspects that contribute to the prices of London venues for different events, so we put together this guide to help you with your conference planning such as it be able to identify the average prices, and how to understand them.

How much does it cost to rent an event venue?

Planning a corporate conference requires careful consideration of several factors. Perhaps the biggest part of organising an event is securing a suitable event venue, however, understanding the costs of venues and what influences them can be a daunting task.

In this article, we’ll look at the various factors that determine conference venue costs, including location, size, package options, and more.

Which factors determine conference venue costs?

The cost of renting an event venue can vary significantly and it's essential to evaluate the specific requirements of your event to get an accurate estimate of how much it will cost.

Location

Location, location, location! It plays a crucial role in determining the cost. Event venues in popular cities or sought-after areas are typically more expensive than those in less prominent locations. Factors such as accessibility, nearby amenities, transport links, and the venue's reputation also impact the pricing.

Number of Guests 

The size of the event space required to accommodate your guests influences the overall cost. Larger venues with a higher capacity will generally have a higher price tag, as they can accommodate more people. Having more guests also means you’ll need to provide more food and drink, which will increase the cost.

Space size and quality

The standard and size of the event space also affect the cost. Luxurious venues with state-of-the-art facilities and larger square footage often come at a premium. Consider what space, amenities and features your event needs of its space and choose a venue that aligns with your budget and desired ambience.

Type of venue and package

Different venues offer various packages and options to cater to different types of events. Some venues provide comprehensive packages that include services like catering, staff support, decorations and audiovisual equipment. The type of package you choose will impact the overall cost.

Hire fee

Venues typically charge a hire fee, which is the base cost for using the event space. This fee covers the venue's basic expenses, such as maintenance, utilities and staff. It's important to enquire about any additional charges such as security, cleaning, or equipment rental fees.

Dry hire

Some venues will offer a "dry hire" option, where you can rent the space and bring in your own vendors. While this will reduce your venue costs and gives you flexibility over which suppliers you use, it can cost more overall and will require extra work from you (or your event planner).

Package per person

Certain venues offer a per-person pricing structure, where the cost is calculated based on the number of attendees. This pricing model often includes services like catering and basic amenities. It can be an efficient option for events with a fixed guest list, simplifying budget calculations.

Day Delegate Rate (DDR)

For conferences and corporate events, venues may offer a Day Delegate Rate (DDR), which covers essentials such as meeting rooms, equipment, refreshments, and meals. DDRs are often quoted on a per-person basis, providing a comprehensive solution for conferences with multiple sessions.

Minimum spend

Some venues have a minimum spend requirement, ensuring that a certain threshold of spending is met. This minimum spend can include certain services, such as food and beverages, venue enhancements or additional features. It's essential to clarify the details and ensure it fits with your budget.

Minimum number of guests

Certain venues have a minimum guest count requirement, which may impact the cost. If your event falls below the minimum number of guests specified by the venue, you may still be charged for the minimum requirement.

How far ahead of the event do I need to book a venue for a conference?

Booking a venue well in advance is crucial to ensure availability and secure favourable pricing. The ideal timeframe for booking a venue for a conference is typically 6 to 12 months in advance. This allows you to have a wider selection of venues to choose from and negotiate better rates.

Popular venues tend to book up quickly, especially during peak event seasons or in highly sought-after locations. By starting the venue search early, you can secure your desired date and venue, giving you ample time to plan other aspects of your event with peace of mind.

It's worth noting that while booking in advance is advisable, it's still possible to find suitable venues with shorter notice, especially if you are flexible with your event dates or open to alternative options. However, last-minute bookings may limit your choices and potentially incur higher costs.

The Brewery, the best venue in London at the best price

When it comes to hosting events in London, The Brewery stands out as an exceptional venue known for its quality offerings. Located in the heart of the city, The Brewery combines historic charm with contemporary facilities, making it very popular for a range of events.

With its diverse event spaces, The Brewery can accommodate varying guest capacities and requirements. We have versatile rooms that can be tailored to suit your event's needs and our experienced events team ensures seamless execution, providing personalised service and attention to detail.

If you would like to find out more about hosting your next conference with us, contact The Brewery today. Our team of experts will be more than happy to discuss our unique venue and your requirements.