26 August 2020/ rent_office_guide

How much does it cost to rent a meeting room?

Hiring a meeting room can help you collaborate effectively while presenting a professional image of your business. Whether you’re hosting a conference or a more informal gathering, you can choose the space to suit the event. There are so many different meeting rooms available for hire, you’ll almost certainly be able to find a cost-effective and convenient location.

How much does it cost to rent meeting space?

The cost of hiring a meeting room will depend on a variety of factors, including:

  • The type of venue – popular or prestigious buildings will be more expensive than more basic sites
  • The location – busy, city-centre spots are usually more expensive than out-of-town sites
  • The size of the room – some are designed for just a few people; others can host hundreds
  • The facilities available – you’ll pay more if you need an overhead projector, microphone, podium, TV or DVD player, for example
  • Catering options – some venues provide on-site chefs to whip up tasty snacks or meals for your guests
  • The day of the week – Tuesday, Wednesday and Thursday tend to be more popular for meetings, so prices can rise during the mid-week period
  • How long you want to stay – the longer you need the space, the more you’ll pay

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There are many advantages when it comes to renting meeting space

You might choose to hire space away from your usual workstation for many reasons. Here are some of the main benefits of hiring a meeting room:

  • You can hire a professional space if you work remotely or don’t have a large office
  • You can rent somewhere close and convenient for your business partners or clients
  • You can take advantage of useful technology during your meeting
  • You can rely on a private, secure room if you’re worried about confidentiality issues
  • Staff can be on standby and help out if you need tech support, order food or have other questions

Factors to consider when choosing your meeting room

There are so many different options open to event organisers, it can be difficult to know where to start with your search.

First, you need to know which types of venues offer meeting space. The biggest proportion of meeting rooms are found in conference centres (48%), while hotels offer 10% of bookable business rooms. Restaurants and pubs also hire out rooms for 10% of organisers, offering refreshments on the side.

The venue you choose will depend on the type of event you’re running. If a relatively informal business lunch is on the cards, why not book space in a restaurant? For a new business pitch or an opportunity to impress clients, an upmarket hotel could be ideal.

Another key factor to consider is the location of the event space. If your chosen meeting room doesn’t have a car park nearby, you’ll probably need to make sure it has good transport links. And, of course, check it’s accessible for those with mobility issues.

For a quick and easy way to find suitable meeting spaces, you can use online sites like Realla to refine and sort potential venues. There’s a huge variety available, so you should be able to find characterful spaces to suit your business, as opposed to bland, clinical rooms.

Find office space to rent on Realla

There are various ways to pay

Here’s a breakdown of some of the most common packages available for hired meeting rooms. As you can see, the amount you’ll pay and the way you pay it depends on the type of agreement you use.

 

Type of payment

Description

What’s included?

Average prices in London

Hire fee

A fixed price paid per hour, day or meeting

This should cover basic amenities, like technology and refreshments.

£20+ per hour

£100+ per day

Impressive spaces can charge thousands of pounds per day

Dry hire

A fixed price for a basic room

You’ll get use of the space but no other amenities. It’ll be a blank canvas with no furnishings or equipment, so you can bring your own.

£300-£600 per day

Per person / Delegate Day Rate

A package with a pre-established cost for a half or a whole day

The charge includes refreshments, a catering service and entertainment, if applicable. This package is great for lengthy meetings and large corporate events. Some hotels offer a 24-hour deal whilst some will charge you extra if meetings overrun.

£40-£90 per person

(around £32.88 per person outside London)

Minimum spend

A contract asking organisers to spend a certain amount during the gathering

This payment method gives you the event space for free as long as you spend a set amount once you arrive. It’s common in food and drink establishments, and useful for celebratory meetings and social gatherings. But venues offering a minimum spend contract may not be fitted with much in the way of technology for a conventional business meeting.

£200+ for small, private rooms

<£15,000 for impressive venues

 

The type of event you’re organising will have a significant impact on the payment you make. For instance, you can access facilities for a simple business meeting through a basic hire fee agreement. But a more lavish corporate dinner will probably involve a per person or minimum spend package.

It’s important to note, you don’t necessarily get what you pay for when it comes to facilities and equipment, as dry hire agreements can be more expensive than hire fees. You may end up paying a premium to have the opportunity to furnish a space in your own way and adapt it for your purpose. Plus, you’ll have to buy everything you need to create the look you want, so make sure you factor these extra costs into your budget.

As the table shows, the cost of hiring a meeting room varies hugely. But you can look at average costs to get an idea of what you should expect to pay in general. In the UK, businesses spend around £65 on hire fees per hour, and £250 per meeting (based on rooms for 10 people hired for four hours).

Book your perfect meeting space

Finding an enviable meeting room to impress clients or entertain business partners shouldn’t be a chore. Keep a list of your key requirements to hand, focussing on your ideal location, room size, facilities and catering options. It’s a good idea to start your search around 15 days in advance, as this will give you plenty of time to secure a room before others get there first.

If you’re also interested in renting office space, Realla has a fantastic selection of high-quality locations. Wherever you’re based, you can browse the best vacancies for offices in your local area .