With fewer than three weeks until Christmas Day, the holiday party season is kicking into high gear this week at Mike Anderson’s Seafood and many other Baton Rouge restaurants and banquet halls. And this year, Mike Anderson Jr. says business at his restaurant is better than it has been in recent memory.
“It’s awesome. Right now we’re doing about eight or nine [holiday parties] a day,” he says. “It’s about doubled this year.”
A number of national surveys conducted each year on company holiday parties all show them to be rebounding to some degree after several years of belt-tightening due to the recession. In Challenger, Gray & Christmas Inc.’s annual unscientific survey of U.S. human resources executives, the global consulting firm found 83% of companies plan to throw a party this year, up from 68% last year. About 17% of respondents also say they plan to spend more money this year on the party. Jay Bruno, co-owner of Bonanno’s Fine Catering, says that reflects what he’s seeing this year.
“Overall, I’d say demand for holiday parties is about 10% better than last year. We’re seeing about the same number of bookings, but the average they’re spending has gone up,” he says.
Anderson says businesses are also spending more on their holiday parties at his restaurant this year.
“Last year they were really cutting back on their budgets: ordering less food and going for a cash bar instead of an open bar,” he says. “But this year, everybody is opening up their pocketbooks more. People are just like, ‘Let’s do it,’ and they’re going for the open bar again and a bigger party. I don’t know what the deal is, but it’s great for us.”
The Challenger, Gray & Christmas Inc. survey notes the percentage of companies planning to throw a holiday party this year is below pre-recession levels in 2007—when about 90% of those surveyed said they were holding a party.
“For many companies, 2012 probably feels like the first time in a while that there is reason to celebrate,” the survey says. “The economy and job market continued to make strides this year. While employment did not grow as fast as many had hoped, company profits did increase due to increased sales as well as cost-cutting initiatives. And, despite ongoing uncertainty related to fiscal cliffs and European debt crises, consumer and business confidence [is] on the rise.”
