Tripleseat: Private Events Emerge as Hospitality's Next Growth Engine
Tripleseat CEO Michelle Fischer argues that private events—weddings, corporate off-sites, birthdays and holiday parties—have become the fastest-growing revenue stream for hospitality operators amid rising costs, unpredictable traffic and thinning margins. Tripleseat data drawn from 20,000 venues shows average events hosted per month up 1.5% year over year, average U.S. event revenue up 6%, and corporate events growing faster than weddings. Private events deliver roughly 20% higher margins than typical a la carte restaurant business, with average event revenue up 4.4% year over year even as broader restaurant sales stayed flat. Events have historically been treated as a side hustle rather th…