They call it the greatest outdoor show on earth — but increasingly, the Calgary Stampede is becoming more costly for the city’s business community to participate in.
As inflation continues to hit the wallets of many Canadians, now corporations may feel the pinch with the Calgary Stampede just over two weeks away.
For the duration of the Stampede, many of the city’s offices effectively shut down as the business community trades in suits and ties for boots and high fives.
But the price of putting on a corporate party during Stampede season is on the rise.
According to The Event Group president and founder, David Howard, on average the cost of these parties has increased about 50 per cent since 2019.
“What we’re seeing this year is that the cost to do a lot of these corporate events has gone up,” Howard said.
“So, cost of bands has tripled some of those A-list bands staffing has tripled. I mean, bringing in registration staff where we used to pay $20 an hour — they’re demanding $50 an hour… and then finding the proper field to run event.”
The majority of The Event Group’s clients who are planning to have a Stampede party this year are public companies that are still working to build brand awareness and recognition.
Howard believes having an event like a corporate Stampede party should be about marketing and achieving goals.
However, if those goals aren’t being met, then he’s advising clients to consider hosting a party later in the year when costs drop, rather than break the bank now.
“You shouldn’t be just putting on an event for the sake of having an event. What are you going to get for that investment? Right now, at Stampede you’re not getting the return on that investment, so better do it elsewhere.”
Darren Kershaw with Special Event Rentals said the company is seeing a lot of demand compared to the last three years of the pandemic -— good business for the rental industry.
“If you’re not doing well, you’re doing something wrong because this is the peak time,” Kershaw said.
“The last week of June to mid-July is go time in Calgary for events: for parties, for weddings, corporate events, you know, everything from big to little.”
He said right now everything in his rental storage warehouse is basically booked up. From staging to trailers and tents and barbecue grills, anyone without these essential items are “out of luck.”
Kershaw believes the reason for the hikes in prices right now are supply chain issues and the demand for party rental supplies such as tables and chairs.
He said back in 2019 if they needed tables, they could purchase them at $80 each — but now, those can range somewhere between $130 to $140 and it’s not just around Stampede.
“It’s all year round. It is weekly, monthly,” Kershaw said.
“When we’re trying to buy things, we try and hold off thinking it’s got to get cheaper, but I’m sure everyone who’s bought a used car thought, ‘Oh, they’re gonna get dropped. They’ve got to drop.'”
But he said that hasn’t happened.
“My fear is that those costs don’t creep down and we just live in this inflationary world, but I don’t know… I just have to react to what the market is doing.”
Calgary Stampede runs from July 7 to 16.