Although no one is ready to celebrate quite yet, most event rental operators see a break in the business clouds this year.
The annual Special Events event rental forecast for 2010 shows a brighter mood among operators, with fully 52 percent expecting to handle more events in the new year, up from only 37 percent in last year's survey.
Thirty-one percent of respondents say they expect to handle the same number of events this year as they did last year, compared to 35 percent who said so in 2009.
Seven percent expect to handle fewer events this year than they did last year; this figure was double that—14 percent---in 2009.
For expert comment on the statistics, Special Events polled the leaders of companies on its annual "30 Top Event Rental Companies" list. While they face a range of challenges, many agree that the market will stabilize this year.
RATE RECOVERY?
"I don’t see a big economic recovery in 2010, but I do see a slight recovery in rental rates," says Chet Fortney, president, A-1 Event & Party Rentals, Covina, Calif. "The pricing got really low during 2008 and 2009; we are now seeing our customers realize that there is value in paying a little more for the services we offer."
'"I believe we will begin to see a sustained recovery in Q3 2010," notes Greg Halton, president/CEO of Toronto-based Event Rental Group. "I think it is at that point that the corporate event business will reemerge as a strong segment."
For the full story, see the January-February issue of Special Events.
Photo by iStockphoto.com
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