New Year's Eve venues are not filling up as quickly as their hosts expected, according to a survey conducted by New York City-based Paint the Town Red, a special event firm that runs a free location-referral service. The firm conducted a random survey of 61 New York City event sites including restaurants, hotels, nightclubs and ballrooms and found that 70 percent of the sites were still available at the end of October, according to Howard Givner, president of the firm.
Givner tells Special Events Magazine that officials at many venues are becoming concerned that they have overestimated demand. "They priced themselves too high and asked for five-night minimum stays at at least a dozen hotels."
So where will revelers celebrate New Year's Eve? "A lot of people are staying home this year because of the expense," Givner says. Finding a baby sitter and navigating traffic are other concerns, he adds.
As time runs out to fill vacancies, many sites are willing to negotiate. "It's a definite possibility that some venues will lower ticket prices, which will lead to angry customers who prepaid at a higher price," Givner says. "And a lot of the venues will sit vacant."
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