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Blog > Are black tie dinners an accurate business barometer?
Author: Martin Hayes
Many people swear by unofficial business barometers – the number of empty taxis circulating in the City, the occupancy rates for top London hotels, the price of McDonalds in various countries etc. Well I think I may be developing one of my own – the popularity or otherwise of expensive black tie ‘industry’ dinners.
Few would argue that the road transport industry has been at the sharp end of the downturn/recession (take your pick of the euphemism) and yet when I attended one of its annual social events – the Motor Transport Awards – in the Summer it was not just popular but a complete sell out. This black tie evening – heavy on ‘entertainment’ and endless awards presentations - has moved to London’s largest banqueting suite, The Great Room at Park Lane’s Grosvenor House Hotel. And yet it was only fire regulations that prevented the organisers cramming yet more tables in.
More recently I went to the SMMT Dinner at the nearby London Hilton – its venue for 20 years or more. I’ve never had my elbow room more tightly squeezed, with hard pressed waiting staff having the greatest difficulty fighting their way between the densely packed tables with trays of food and drink. Next year, we were told, it too would move to the Grosvenor House allowing 1,600 suffering motor industry executives to let themselves go for a bit.
So my new rule is – the more an industry is feeling the pinch the more people are prepared to shell out £150 a head or more to put on their posh frocks (and male equivalents), meet with their peers and have a good time. I’m not sure what the motivation is – forgetting troubles, clubbing together for sympathy and support or maybe just to say, actually, we’re not hurting that much after all.
All I can say is that I really hope is that the underlying cause is that these partying folk can see some optimism somewhere that is hidden from the rest of us. Cheers!
30th Nov 11
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