How to Price Your Venue (And Get it Right Every Time)

Figuring out how to price your venue isn’t easy. Between size, capacity, location, and everything in between, there’s a lot to think about. Add in factors like accessibility, amenities, and what you can offer in terms of food and drink, and it quickly becomes complicated. To make things harder, a lot of venues don’t publish their prices online, so it’s not always easy to see what your competitors are charging.

That’s exactly why we built our Venue Pricing Calculator.

This free tool analyses over 25,000 venue prices and uses more than one million data points to help you find your ideal rate so you can price your space competitively and maximise your booking revenue. You’ll even get insight into the competitive price point: the sweet spot that’s slightly lower than the local average and helps you attract more enquiries without sacrificing profit.

Once you’ve used the calculator, it’s important to understand the other key factors that influence venue pricing and the different models you can choose from.

How To Price Your Venue

Things that May Influence the Price of Your Venue

1. Size

Larger spaces naturally command higher hire fees. A private room for 10 guests will price very differently from a full hall that can hold 200.

2. Capacity

Capacity can greatly vary from venue to venue. Some venues can accommodate anywhere between 10-100 people. 

Always account for seated vs. standing capacity as organisers often need flexibility depending on their event type (meetings, dinners, parties, etc.).

3. Location

Central venues, especially in major cities like London, can charge premium rates compared to countryside or suburban venues. Accessibility and transport links play a big part here.

4. Offerings

Does your venue include catering, AV equipment, or a sound system? The more you provide, the more you can charge. Venues that include on-site food, drinks, and staff generally see higher hire rates.

Ways to Price Your Venue

Aside from the usual things like size and capacity there are other things to think if you’re wondering how to price your venue. You have to decide if you’re only offering space or if you can offer more, like food and drinks.

1. Hire Fee

If you’re only offering the space, you’ll be asking for a hire fee, which his a simple fixed rate for the space. It’s charged by the hour, half-day, or day. It’s ideal if organisers want flexibility. Things like catering or entertainment can be added on for an additional cost. 

2. Minimum Spend

Common for bars and restaurants, a minimum spend means that the organiser commits to a set spend on food and drink, and if they don’t reach it, they simply pay the difference. It’s a win-win: guests enjoy inclusive packages, and you guarantee revenue.

3. Dry Hire

Perfect for blank-canvas venues. You provide the space, and the organiser takes care of catering, AV, and decor. It’s simple, scalable, and great for film shoots or private events.

4. Daily Delegate Rate

If you host corporate events or conferences, DDR pricing is the most efficient. Offer a per-person rate that includes venue hire, refreshments, and essential meeting equipment.

Take the Guess Work Out of Venue Pricing

Don’t just guess what to charge, see what’s working in your area.

Use the Venue Pricing Calculator to benchmark your rates against the competition and find your ideal pricing strategy.

It’s fast, data-driven, and designed to help you turn more enquiries into confirmed bookings.