Royal Entertainment shares concerns on the effect the economy could have on the event industry in 2020

South Hackensack, NJ – As we move into the final month of the first quarter 2020, the founders of Royal Entertainment say they are somewhat concerned about the effect the economy could have on the event industry in 2020. Looming economic pressure not just abroad, but here in the US as well has the company keeping an eye on economic news.

Royal Entertainment is expected to host the same number if not more events as they did in 2019, yet they are still concerned about the potential effect of a downturn in the economy. Their initial projections are primarily based on the business/corporate events part of their business. Dylan Dell, the company’s co-founder says “As it stands today, our corporate events business is on course to stay in line with 2019 numbers”. He also mentioned that most of their business/corporate clients have already booked their annual events for 2020 and feels this will offset any pressure that a turn in the economy might bring.

Royal Entertainment’s outlook for social/private events is a bit more modest. The company is expecting a slight revenue increase or possibly no change at all over 2019 numbers. Victor Markovski, the company’s President said one reason is because “we had an outstanding year in 2019 with weddings, sweet 16 parties and mitzvahs. He does expect to host more events in 2020 in terms of sheer numbers because of the company’s addition of Quiceaneras to their event planning offerings.

When asked about the company’s top four challenges for 2020, Mr. Markovski listed “reduced client budgets, shorter lead times, an uncertain economy and increased competition in the marketplace. Both founders stated that there is some concern about the economy in 2020 that could affect the event industry. Mr. Markovski also had this to say “Even if the economy dips, increased competition is still our number one concern”.

Contact

Royal Entertainment, LLC
69 Wesley Street, Unit C
South Hackensack, NJ 07606
(973) 826-7011
www.royalentertainmentus.com
Info@royalentertainmentus.com

Victor Markovski
President
Royal Entertainment, LLC
(201) 919-6031
victor@royalentertainmentus.com

Dylan Dell
Co-founder
Royal Entertainment, LLC
(551) 486-7902
dylan@royalentertainmentus.com