Companies rent conference rooms for many reasons. Smaller companies may not have the facilities to hold large meetings, and large firms may choose to rent space in a prestigious building to add cachet to important events. If you are thinking about renting a conference or meeting room, you will probably find yourself choosing between a hotel and an office space provider like Corporate Suites. Once the time comes to do it, though, you’ll probably be asking yourself: How much does it cost to rent a conference room? If you go with the hotel conference room option, it will run from about $70 to $160 per hour on average. That equates to around $140 to $320 for the use of the venue for a typical two-hour meeting.
In this article we’ll cover the advantages and disadvantages of renting a conference room from a hotel vs. an office space provider. In addition, we will provide you some helpful tips to make your planned event a success. Also importantly, we’ll finish by looking and seeing if there are benefits of one over the other, especially when it comes to significant cost savings.
What’s Included in the Cost of a Conference Room?
The ambiance and décor of rented conference spaces vary greatly and range from no-frills and basic to lavish and opulent, but there are certain things that you can expect the price to include no matter where you decide to hold your meeting or how much you agree to pay. Just about all conference room packages offer:
- A room with doors that close and walls thick enough to keep interruptions and distractions to a minimum.
- A large conference table or several smaller tables and enough chairs to accommodate all participants.
- Reliable and fast wireless internet service.
- A reception desk that can take messages for attendees.
- A board to write on, marker pens and an eraser.
Hotel Conference Rooms vs. Co-Working Conference Rooms
Just about all large hotels and even some motels offer conference rooms. Choosing to rent a hotel rather than a co-working conference room has advantages and disadvantages. Let’s go over some of the pros and cons of choosing a hotel for your next important meeting.
Pro: Name recognition
Hotel chains spend tens of millions of dollars each year to build their brands and establish their names. This means that you get to associate your organization with a well-established name when you choose to hold a conference or meeting in one of them. However, co-working conference rooms are often located in prestigious office buildings with addresses that could impress your participants just as much.
Hotel conference rooms are usually booked for an entire day. If your meeting or event will only take an hour or two, you will be paying for time that you will not use. Daily rates at a typical suburban hotel in a small city range from $300 to $500, but you can expect to pay up to two or three times as much in major commercial centers like New York, Los Angeles and Chicago. On the other hand, most hotels with conference facilities have large and free parking lots.
If you decide to hold a meeting in a hotel, you will probably find yourself in a secluded area with minimal distractions. You could even have a window overlooking a lake or some mountains. Holding a meeting in a city like New York involves accepting urban realities like the odd car horn and occasional siren.
Suburban hotels are usually in areas poorly served by public transport. This means your guests will have a hard time getting to your event if they do not have a car. New York has one of the most sophisticated bus and subway networks in the world, and hailing a cab is very easy in just about any part of the city.
Luxury hotels have excellent restaurants and cafes, which means your participants will be able to enjoy a quality meal in luxurious surroundings without leaving the building. The downside to all this ambiance is the price.
Just about every large office building in a large city is surrounded by dozens of fine dining establishments that offer catering services. This means meeting participants have a wealth of options and price points to choose from.
What Type of Amenities Do Conference Rooms Provide?
This article has already covered what a rented conference room package should include, so let’s take a look at some of the optional extras. You can expect to pay more for audio and video technology, but a basic package is sometimes included. For example, all Corporate Suites conference rooms include Apple TV. Here are some things that you may have to pay extra for:
- TV monitors and DVD players
- Overhead projectors
- Phone systems
- Extension cords and power strips
- Coffee and refreshments
Benefits of Renting a Conference Room
The benefits of renting a conference room from a co-working provider like Corporate Suites basically boil down to cost, convenience and choice. Prices start at just $30 per hour instead of several hundred dollars for the entire day, and rooms are available in all of New York’s most important business districts. Getting to and from the meeting will be a breeze for your participants, and our wide range of options will allow you to decide how basic or elaborate your event will be.