Caterers benefit from ‘stealth spending' on corporate hospitality
Corporate hospitality is booming despite the recession, claims a corporate cookery venue.
Venturi's Table has released results showing an uptake in its services since the economic downturn, a surge it attributes to "a new ‘undercover' approach to corporate hospitality."
A spokesperson from the Wandsworth Town-based business said: "It seems that corporate organisations are still splashing out on indulgent events for their clients but they are being much more discreet about their spending so as not to appear out of touch in a post-recession climate."
The company's results showed that before December 2008, client hospitality only accounted for around 17% of the cookery centre's overall business but now commands almost 47%, alongside its teambuilding mainstay.
The cookery centre has also experienced a 54% increase in enquiries from corporate hospitality agencies as their request ideas for more low-key events.
In August, the New York Timescoined the term "stealth spending" in an article citing the same trend towards covert corporate spending.
Tina Benson, managing director of event management companyTeam Tactics, said: "There has been a considerable drop in demand for big "show-off" events and branded boxes or hospitality enclosures at sporting events have never been so unpopular with companies.
"We have found that clients, however, still have money to spend, but they are interested in smaller, more bespoke ways to entertain clients. Hospitality expenditure is also being spread over a number of activities for clients rather than being focussed on one big, expensive event."
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By Rosie Birkett
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