Cost to Rent a Banquet Hall

Published on March 15, 2023
Written by CPA Alec Pow | Content Reviewed by CFA Alexander Popinker

Among the most important details that you must pay attention to when organizing an event is the choice of a suitable location. The space where the party will take place must be impeccable, exemplary, in harmony with the theme of the event, and, above all, to the liking of the guests.

How Much Does It Cost to Rent a Banquet Hall?

The average cost for renting a banquet hall is anywhere between $220 and $4,000 (≈1.5 months of non-stop employment at $15/hour), without any type of catering or other services. The price will be affected by factors such as the resort/hotel/company that offers the hall, the size of the room, and the setup.

According to the Bridal Association of America, the average cost of renting a banquet hall is around $1,400 (≈2.3 weeks locked to your job at $15/hour).

In the table below you will find the average costs of renting a banquet hall at different hotels, for an event on a Saturday evening, with 150 guests.

What is going to be included in the price estimate?

Most of the companies and hotels will require to rent out the hall for a minimum of four hours. However, each contractor has its own minimums.

The cost estimates presented above only include the rental fee for the banquet hall.

Though, most banquet halls should offer free parking, a table setup that can accommodate eight to ten guests at each table, and an area for a DJ/dancefloor.

What are the additional expenses?

In case you want to use the catering service within the hall or have a catering service, you should plan on spending $10 (≈40 minutes working at a $15/hour wage) to more than $85 (≈5.7 hours of your life traded for $15/hour) per guest, depending on the catering company you choose and the food that is served. Also, an open bar will come at an additional cost. This may increase the costs by $15 to $25 (≈1.7 hours of labor required at $15/hour) per person.

If your party takes longer than planned, you will have to pay for the extended amount of time (some contractors charge for every additional hour).

You might also like our articles on the cost to rent a hall, a school auditorium, or a stadium.

If a self-parking option is not included, you should hire a valet service at an extra cost.

Some banquet halls may have an extra fee for using a sound system setup or projector. Other premium add-ons can include security, chair upgrades, upgraded linens, an open bar, extra tables, and uplighting.

In order to secure your reservation, you will have to pay a security deposit. Also, it will protect the banquet hall in case of any damage. This deposit will be returned to you if there is no damage.

Important things to consider

Read the rental contract very carefully to see what costs are you responsible for. In some cases, the price will be listed as “exclusive”, which means that it won’t include the service fees or the tax.

Before renting an event hall, schedule a visit and request information about various aspects:

• number of seats - it is important to have as much space as possible, but without the guests being too spread out;
• furnishing - find out if furnishing services and decorations are provided and if the proposed design is compatible with your style;
• sound system – music is an essential piece of the puzzle, but you probably have to buy the equipment and pay for the band/DJ;
• outside space - see if the surroundings are equipped with gardens and green spaces, useful even if only for the traditional photo session;
• structure - if you have guests from other areas, ask if the unit provides rooms for rent;
• parking spaces – as parking creates problems everywhere, it is important to have a private parking lot.

Tips for saving money

If you want to save some money, you should organize your event in a non-peak time slot. For instance, it is much cheaper to rent a banquet hall for a Thursday night than for a Friday or Saturday night.

Also, you may be able to reduce the costs when selecting the food. For example, food items that are made of easy-to-find ingredients are cheaper. Also, it is cheaper to choose the banquet hall’s catering service rather than an outside company. The buffet-style setups are cheaper than a plate service as well.

If a higher-end hall is too expensive for you, you should take into consideration other lower-cost options like Recreation Centers, Parks, or VFW halls. For example, the cost of renting a VFW hall for Friday or Saturday night would be around $120 (≈1 day working for this purchase at $15/hour) per hour.