Many companies still splashing out on Christmas party

While some firms are cutting back on their festive celebrations in the face of tricky trading conditions, new research suggests many organisations are continuing to put on lavish corporate Xmas parties.

Event Magazine cited a survey carried out by Late Night London that showed 14 per cent of respondents have put aside £6,000 or more to celebrate in December.

The office Christmas party has a reputation for providing gossip and the study suggested this tendency shows little sign of disappearing; with 30 per cent saying they had had a romantic encounter at a previous occasion.

Fridays were confirmed as the most popular day to hold festive events. Furthermore, 85 per cent of respondents revealed formal occasions are preferable to casual dinners.

Late Night London spoke to 1,480 personal assistants and corporate bookers to gauge the health of the Christmas celebration market.

An article in the Manchester Evening News echoed the sentiment of the research, noting that there are a huge number of companies keen to celebrate in style; with many function venues already having been booked out.

Despite Christmas Day being still more than three months away, industry sources told the newspaper that some parties were organised months ago and the rush to book this year has been even more manic than ever.