Although the sluggish economy continues to force party rental operators to run a tight ship, some in the industry point to a pickup in business this year and an even better 2011. The findings come as Special Events prepares its 13th annual "30 Top Event Rental Companies" list, which studies the biggest players in party rental.
Arlington, Va.-based DC Rental is seeing an "uptick" in business this year, management notes, especially in the wedding market. "It seems our clients are looking for that special rental item or certain look to make their event unique and different," notes general manager Joe Valente.
CORPORATE BUSINESS COMING BACK
After a dismal 14-month decline in monthly rental revenue, Austin, Texas-based Marquee Event Group saw an increase in March, notes founder Damon Holditch, CSEP, CERP. Weddings had remained steady, but then in September, the corporate segment began spending again, he adds.
Holditch gives much of the credit for his company's better fortunes to Marquee's new 73,000-square-foot facility, which has made operations more efficient. "There appears to be a more optimistic outlook among our clients this fall," he says, adding, "2011 should be our best year."
VALUE VS. EXTRAVAGANCE
Dan Hooks, CERP, is also bullish about business in 2011. The CEO of Charlotte, N.C.-based Party Reflections has seen a "resurgence" in corporate spending, "which has allowed us to grow considerably this year," he notes. "I do not think we will see the type spending on extravagance we saw in ’08, but I think our customers are seeking value for their clients, which creates a willingness to hold events again," he explains. "We are budgeting a 10 percent increase for 2011."
See the full story in the November-December issue of Special Events.