Everything you need to know about reserving a bar or restaurant in NYC for a group

Part 1 

Last week, we discussed how challenging it can be to find and book the right venue for your group in NYC. Today, let’s break down what it means to book a bar or restaurant for a group. 

Bars and restaurants are not set up to make “large party reservations” because these bookings can disrupt their regular flow of business, impacting the revenue they’d normally earn from regular reservations, walk-ins, and their usual operations. 

To ensure they still make at least as much as they would during normal operations, venues developed two main types of packages for party or event hosts: 

• Minimum Spend: The party host agrees that the group will collectively spend a minimum amount on food and/or beverages over a specified amount of time.
• Drink and/or Food Package: Guests are offered a selection of food and/or beverages for a specified time, usually for a set fee per guest. This fee is often agreed upon and paid by the host in advance.

Seems straightforward, right? 

Well, not quite.

What’s still not clear to anyone trying to book a venue is who pays (if at all), what they pay, and when it’s due?

After months and months of conversations with bars and restaurants in NYC, Party Place distilled it down to five options. 

1. Minimum Spend with a Credit Card Hold: The host secures the reservation with a credit card, which will only be charged if the minimum spend isn’t met.
2. Minimum Spend with a Refundable Deposit: The host pays a deposit upfront, which is refunded if the group meets the agreed-upon minimum spend.
3. Minimum Spend Prepaid by the Host: The host pays the minimum spend in advance, ensuring the reservation is secured and any additional spending is settled afterward.
4. Prepaid Drink and/or Food Package: The host pays in advance for a set selection of food and/or drinks, covering all guests for a specified period.
5. Classic Flat Fee Reservation Prepaid by the Host: The host pays a flat fee upfront, covering the cost of reserving the space for the event.

Next week, we’ll dive into specific examples of each option, helping you understand which might be the best fit for your get-together, and how with Party Place this whole process can take less than 5 minutes.