[jpelletier]

Hi Lesa-
We are in a similar position of needing to review and potentially update rates after many years of rate stability!

When we originally established our rates, we benchmarked with other event venues on campus, in the Columbus area, and to some extent with comparable institutions within ACUI. There are some geographical differences that would impact that latter group, but the localized comparisons were helpful.

We also have three rates as you outlined, so our standard/external rates were what we compared, with the applicable discounts from there for university users and student organizations.?

——————————
Jeff Pelletier, MA, MBOE, LSSBB
Ohio Union Director
The Ohio State University
Columbus, OH
614-292-3290
——————————
——————————————-
Original Message:
Sent: 01-26-2022 17:52
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

Hello from the University of Minnesota- Duluth!  We are re-evaluating our meeting and event space rental fees and are curious how other student centers have determined their rates?  Ours have not gone up in my time here so I am not certain how the rates were established initially. For context, we have three pricing structures: one for student organizations (free use of space unless they charge for event admission); departments (pay a reduced fee); and external guests. Our rates are either half day (up to 4 hours) or full day. Is anyone willing to share their methodology or formula in determining rates?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————

[lrradtke@d.umn.edu]

Thank you for your response, Jeff.? This is very helpful to our analysis!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————
——————————————-
Original Message:
Sent: 01-26-2022 18:07
From: Jeff Pelletier
Subject: Methodology in determining meeting/event space rental fee

Hi Lesa-
We are in a similar position of needing to review and potentially update rates after many years of rate stability!

When we originally established our rates, we benchmarked with other event venues on campus, in the Columbus area, and to some extent with comparable institutions within ACUI. There are some geographical differences that would impact that latter group, but the localized comparisons were helpful.

We also have three rates as you outlined, so our standard/external rates were what we compared, with the applicable discounts from there for university users and student organizations. 

——————————
Jeff Pelletier, MA, MBOE, LSSBB
Ohio Union Director
The Ohio State University
Columbus, OH
614-292-3290
——————————

Original Message:
Sent: 01-26-2022 17:52
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

Hello from the University of Minnesota- Duluth!  We are re-evaluating our meeting and event space rental fees and are curious how other student centers have determined their rates?  Ours have not gone up in my time here so I am not certain how the rates were established initially. For context, we have three pricing structures: one for student organizations (free use of space unless they charge for event admission); departments (pay a reduced fee); and external guests. Our rates are either half day (up to 4 hours) or full day. Is anyone willing to share their methodology or formula in determining rates?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————

[madfil]

Hi Lesa – Back at the ACUI 2016 New Orleans Annual Conference, I went to a great session that covered calculating cost/sqft to determine daily room cost. While I have the spreadsheet that was used I cannot find the presenter information so if anyone else reading this remembers please give the credit to that person. The short of it is, figure out:

Yearly overhead costs / total rentable sq footage = yearly cost per sqft

Yearly cost per sqft / rentable days per year = daily operating cost per sqft

Daily operating cost per sqft * room sqft = daily room cost

We have 5 tiers of rates based on single use, so whether you use the room for 1 hour or 8 hours you pay the same rate. The multiplier is in (). External Profit, non-profit (0.6), affiliated (alumni) (0.4), internal (0.2), students (0). Hope this helps.

——————————
Filip Pongratz
Associate Director, SFC Activities & Operations
He/His/Him

215.707.4362 (p)
http://www.temple.edu/sfc
——————————
——————————————-
Original Message:
Sent: 01-26-2022 17:52
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

Hello from the University of Minnesota- Duluth!  We are re-evaluating our meeting and event space rental fees and are curious how other student centers have determined their rates?  Ours have not gone up in my time here so I am not certain how the rates were established initially. For context, we have three pricing structures: one for student organizations (free use of space unless they charge for event admission); departments (pay a reduced fee); and external guests. Our rates are either half day (up to 4 hours) or full day. Is anyone willing to share their methodology or formula in determining rates?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————

acui_fee_calculator.xlsx 26 KB Excel Spreadsheet - Click to view

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[lrradtke@d.umn.edu]

I appreciate your response, Filip ~ I’m thrilled to know that we have been going down the right path in terms of a cost per square foot calculation. The formula and spreadsheet you shared are going to help immensely (a huge thank you to the presenter as well!) .? Did you factor in 100% of all costs for your student center or just those (or percentage of all costs) that applied to reservable space and events and conferences?? ?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————
——————————————-
Original Message:
Sent: 01-26-2022 22:04
From: Filip Pongratz
Subject: Methodology in determining meeting/event space rental fee

Hi Lesa – Back at the ACUI 2016 New Orleans Annual Conference, I went to a great session that covered calculating cost/sqft to determine daily room cost. While I have the spreadsheet that was used I cannot find the presenter information so if anyone else reading this remembers please give the credit to that person. The short of it is, figure out:

Yearly overhead costs / total rentable sq footage = yearly cost per sqft

Yearly cost per sqft / rentable days per year = daily operating cost per sqft

Daily operating cost per sqft * room sqft = daily room cost

We have 5 tiers of rates based on single use, so whether you use the room for 1 hour or 8 hours you pay the same rate. The multiplier is in (). External Profit, non-profit (0.6), affiliated (alumni) (0.4), internal (0.2), students (0). Hope this helps.

——————————
Filip Pongratz
Associate Director, SFC Activities & Operations
He/His/Him

215.707.4362 (p)
http://www.temple.edu/sfc
——————————

Original Message:
Sent: 01-26-2022 17:52
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

Hello from the University of Minnesota- Duluth!  We are re-evaluating our meeting and event space rental fees and are curious how other student centers have determined their rates?  Ours have not gone up in my time here so I am not certain how the rates were established initially. For context, we have three pricing structures: one for student organizations (free use of space unless they charge for event admission); departments (pay a reduced fee); and external guests. Our rates are either half day (up to 4 hours) or full day. Is anyone willing to share their methodology or formula in determining rates?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————

[madfil]

Hope it helps! I only factored in costs for reservable spaces with the exception of security. My office pays 100% of security costs despite multiple other departments being in the building. So I added that in as well.

——————————
Filip Pongratz
Associate Director, SFC Activities & Operations
He/His/Him

215.707.4362 (p)
http://www.temple.edu/sfc
——————————
——————————————-
Original Message:
Sent: 01-27-2022 15:44
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

I appreciate your response, Filip ~ I’m thrilled to know that we have been going down the right path in terms of a cost per square foot calculation. The formula and spreadsheet you shared are going to help immensely (a huge thank you to the presenter as well!) .  Did you factor in 100% of all costs for your student center or just those (or percentage of all costs) that applied to reservable space and events and conferences?   

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————

Original Message:
Sent: 01-26-2022 22:04
From: Filip Pongratz
Subject: Methodology in determining meeting/event space rental fee

Hi Lesa – Back at the ACUI 2016 New Orleans Annual Conference, I went to a great session that covered calculating cost/sqft to determine daily room cost. While I have the spreadsheet that was used I cannot find the presenter information so if anyone else reading this remembers please give the credit to that person. The short of it is, figure out:

Yearly overhead costs / total rentable sq footage = yearly cost per sqft

Yearly cost per sqft / rentable days per year = daily operating cost per sqft

Daily operating cost per sqft * room sqft = daily room cost

We have 5 tiers of rates based on single use, so whether you use the room for 1 hour or 8 hours you pay the same rate. The multiplier is in (). External Profit, non-profit (0.6), affiliated (alumni) (0.4), internal (0.2), students (0). Hope this helps.

——————————
Filip Pongratz
Associate Director, SFC Activities & Operations
He/His/Him

215.707.4362 (p)
http://www.temple.edu/sfc

Original Message:
Sent: 01-26-2022 17:52
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

Hello from the University of Minnesota- Duluth!  We are re-evaluating our meeting and event space rental fees and are curious how other student centers have determined their rates?  Ours have not gone up in my time here so I am not certain how the rates were established initially. For context, we have three pricing structures: one for student organizations (free use of space unless they charge for event admission); departments (pay a reduced fee); and external guests. Our rates are either half day (up to 4 hours) or full day. Is anyone willing to share their methodology or formula in determining rates?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————

[Kelly Schaefer]

@Michael McKean – this thread and resource might help you with your question about space calculations. Kelly??

——————————
Kelly Schaefer
Assistant Vice President for Student Engagement
Northwestern University
——————————
——————————————-
Original Message:
Sent: 01-27-2022 15:53
From: Filip Pongratz
Subject: Methodology in determining meeting/event space rental fee

Hope it helps! I only factored in costs for reservable spaces with the exception of security. My office pays 100% of security costs despite multiple other departments being in the building. So I added that in as well.

——————————
Filip Pongratz
Associate Director, SFC Activities & Operations
He/His/Him

215.707.4362 (p)
http://www.temple.edu/sfc
——————————

Original Message:
Sent: 01-27-2022 15:44
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

I appreciate your response, Filip ~ I’m thrilled to know that we have been going down the right path in terms of a cost per square foot calculation. The formula and spreadsheet you shared are going to help immensely (a huge thank you to the presenter as well!) .  Did you factor in 100% of all costs for your student center or just those (or percentage of all costs) that applied to reservable space and events and conferences?   

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN

Original Message:
Sent: 01-26-2022 22:04
From: Filip Pongratz
Subject: Methodology in determining meeting/event space rental fee

Hi Lesa – Back at the ACUI 2016 New Orleans Annual Conference, I went to a great session that covered calculating cost/sqft to determine daily room cost. While I have the spreadsheet that was used I cannot find the presenter information so if anyone else reading this remembers please give the credit to that person. The short of it is, figure out:

Yearly overhead costs / total rentable sq footage = yearly cost per sqft

Yearly cost per sqft / rentable days per year = daily operating cost per sqft

Daily operating cost per sqft * room sqft = daily room cost

We have 5 tiers of rates based on single use, so whether you use the room for 1 hour or 8 hours you pay the same rate. The multiplier is in (). External Profit, non-profit (0.6), affiliated (alumni) (0.4), internal (0.2), students (0). Hope this helps.

——————————
Filip Pongratz
Associate Director, SFC Activities & Operations
He/His/Him

215.707.4362 (p)
http://www.temple.edu/sfc

Original Message:
Sent: 01-26-2022 17:52
From: Lesa Radtke
Subject: Methodology in determining meeting/event space rental fee

Hello from the University of Minnesota- Duluth!  We are re-evaluating our meeting and event space rental fees and are curious how other student centers have determined their rates?  Ours have not gone up in my time here so I am not certain how the rates were established initially. For context, we have three pricing structures: one for student organizations (free use of space unless they charge for event admission); departments (pay a reduced fee); and external guests. Our rates are either half day (up to 4 hours) or full day. Is anyone willing to share their methodology or formula in determining rates?

Thank you!

——————————
Lesa Radtke
Associate Director of Events and Conferences
University of Minnesota?Duluth
Duluth MN
——————————