What Makes a London Event Venue Worth the Money?

London venues aren’t cheap. But an expensive venue and an overpriced venue are two very different things.

When you’re comparing event spaces, it’s tempting to focus on the headline hire fee or cost per person. In reality, the venue offering the lowest initial price isn’t always the one that provides the best value.

A venue becomes worth the money when the location, facilities, service and what’s included in the price all work together to make your event easier to organise and better for your guests.

So, what should you actually be paying for?

A Location That Works for Your Guests

Location can justify paying more for a venue – particularly when you’re organising a conference, meeting or corporate event.

A venue that’s five minutes from King’s Cross, Liverpool Street or Waterloo may cost more than one in a less convenient location, but think about the bigger picture.

Will 200 delegates have an easier journey? Will you need fewer taxis or coaches? Can guests travelling from outside London get there without changing trains several times? Will more people arrive on time?

Sometimes paying more for the right location represents considerably better value.

The Right Space – Not Simply More Space

Bigger isn’t necessarily better.

A ballroom capable of holding 500 people can feel completely wrong for an event with 150 guests. Equally, squeezing 200 delegates into a room that technically holds 200 may leave little space for staging, catering, registration or networking.

A good venue should offer a room that works for your actual event format, not simply your maximum capacity.

If you’re holding a conference, consider where delegates will register, have coffee and lunch, network and attend breakout sessions.

For a party or reception, think about the bar, dance floor, entertainment and how people will move around the room.

You’re paying for usable space, not just square metres.

What’s Actually Included?

This is where apparently expensive venues can suddenly start looking like good value.

One venue might quote £5,000 for room hire while another quotes £7,500. But if the second includes furniture, staffing, security, Wi-Fi, AV equipment and longer access hours, it could ultimately be the less expensive option.

The same applies to conference packages.

A Day Delegate Rate may include room hire, refreshments, lunch, Wi-Fi and basic AV, making it much easier to establish the true cost per delegate.

Before comparing prices, make sure you’re comparing like with like.

Ask exactly what is included and what will appear as an additional charge later.

Good AV Can Save You Money

For conferences, presentations and product launches, built-in technology can be extremely valuable.

If a venue already has screens, projectors, microphones, sound systems, lighting and reliable high-speed Wi-Fi, you may avoid bringing in substantial amounts of external equipment.

But don’t assume “AV included” means everything you need.

Find out exactly what is provided, whether a technician is included and what additional equipment will cost.

For more complex events, an apparently inexpensive blank canvas venue can become considerably more expensive once staging, lighting, sound, screens and production are added.

Good Service Has a Value Too

This is harder to put on a spreadsheet, but experienced event organisers know how important it is. A responsive venue team that answers questions quickly, understands your brief and anticipates potential problems can make an enormous difference.

Good venues should be clear about costs, timings, supplier restrictions and what’s possible from the outset.

Having an experienced event manager on the day is also valuable. When 300 delegates are arriving simultaneously, you don’t want to be trying to find someone to open another registration desk or resolve an AV problem yourself.

Flexibility Can Be Worth Paying For

Every event changes. Guest numbers go up or down. A speaker needs a different room. The client suddenly wants drinks afterwards. The presentation needs another screen.

Venues that can accommodate changes without everything becoming complicated can offer excellent value.

Look for flexible room layouts, adjoining spaces, breakout rooms and areas that can serve several purposes during the day.

A venue where your conference, networking, dinner and evening reception can all take place under one roof may also save transport costs and make the event considerably easier for guests.

Food and Drink Shouldn’t Be an Afterthought

Catering can account for a significant proportion of an event budget, so it’s worth looking beyond the price per head. Consider the quality, portion sizes and flexibility of the menus as well as the cost. Can dietary requirements be accommodated easily? Is there enough choice? Does the style of catering suit the event?

For parties and receptions, also look carefully at minimum spends and drinks packages. A venue with little or no hire fee may require you to commit to a substantial food and beverage spend.

That can be excellent value if your guests would have spent that amount anyway – but poor value if you’re paying for food or drink you don’t actually need.

Don’t Forget the Hidden Costs

One of the best ways to judge whether a London venue is worth the money is to ask:

What will this event really cost by the time we leave?

Check for additional charges such as:

• AV and technicians
• Security
• Furniture
• Cloakroom staff
• Cleaning
• Early access
• Late finishes
• Corkage
• Catering minimums
• Additional breakout rooms
• Production and rigging
• VAT

None of these charges necessarily makes a venue poor value. The important thing is knowing about them before you make your decision.

Sometimes It Is Worth Paying More

There are occasions when the venue itself is an important part of the event.

For a major product launch, awards ceremony, client dinner or company celebration, an iconic London setting can create an impact that a standard function room simply can’t.

The venue may help attract attendees, reinforce a brand message or turn an ordinary event into something guests remember.

In those circumstances, paying more can be entirely justified.

The question isn’t simply:

“Is this venue expensive?”

It’s:

“What are we getting for the money?”

How to Know Whether You’re Getting a Good Deal

The best way to judge value is to compare several venues against the same brief.

Look at the total event cost, what’s included, location, facilities, service and how well each venue actually fits your event.

At Best Venues London, we know the London venue market and can help you compare suitable options properly. Tell us your date, guest numbers, budget and requirements and we’ll suggest venues that match your brief, check availability and help negotiate the best rates.

Our service is completely free to use, so you can spend less time comparing venue quotations – and be more confident that you’re getting genuine value for your budget.