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Monday, December 16, 2002

Need a place to party Dec 31? You have lots of options

This season more people are waiting until the last minute to make New Year's Eve plans -- thus even prime spots like the Rainbow Room are still available according to this Wall Street Journal story (subscription required):

The last-minute rush is hardly surprising, given the state of the economy and percolating talk of war. But for the big-ticket hospitality industry, the stakes couldn't be higher. In the $70 billion-a-year wedding business, for instance, venues and caterers say they're seeing more 11th-hour planners, and they're cutting more deals. Places accustomed to hosting lavish year-end corporate parties may also come up short: U.S. businesses are expected to spend about $2.5 billion this year for holiday parties in hotels, restaurants and clubs -- about 15% less than in 2000, PricewaterhouseCoopers' hospitality group estimates.

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