Lebanon Businessnews News

‘-6+3’ multiplies
year-end profits
The Music Hall initiated concept
has expanded New Year’s Eve by ten folds!
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“Night club and restaurant owners have always wished there were more than one New Year’s Eve per year,” said Michel Elefteriades, artist and music composer, and the founder, 12 years ago, of Music Hall, a nightclub in Beirut. This wish has come true, with an innovative concept of partying over several nights before and after the night of December 31. It has not just tantalized party animals, but benefited club and restaurant owners, multiplying their revenues.

Elefteriades said that New Year’s Eve’s ticket prices bring in the equivalent of a whole month’s worth of revenues. Restaurant and club owners invest a bundle to make it successful. This includes entertainment, decoration, food, and ambiance. The ‘-6 +3’ concept introduced by Music Hall, or ‘Minus One, Plus One’ by others, are parties on the nights before and after NYE. It has allowed pubs to extend the New Year’s festivities and multiply its revenues. This means replicating the same events that take place during NYE. The concept has caught on. Rikky’z, a restaurant and club in Faqra, has been celebrating pre-NYE nights since it opened seven years ago. “It is a local and worldwide trend,” said Ricky Hmouda, the owner. Others, like The O1NE, are also adopting only the ‘minus one’ formula, but without decorations and accessories. “We organize a pre-NYE, in response to demand,” said Stephanie Abi Raad, from Sky Management, the club’s management company.

‘Minus one’ and ‘Plus one’ night tickets do not cost as much as NYE’s. A seat at Music Hall starts at $150 per person during pre- and post-nights, compared to $400 on NYE. At Rikky’z, it is $75 per ticket instead of $330. Abi Raad said that the number of clubbers at a ‘minus one’ event is sometimes higher than on regular nights. According to Hmouda, their ‘minus one’ party night attracted 400 guests last year, whereas their NYE attracted 275.

Elefteriades said: “Thanks to this concept, industry players can now make ten times the money they were supposed to make.”

The trend is growing. “We are already fully booked for ‘minus one’ for 2015,” said Elefteriades. Music Hall’s staff benefits from extra income, due to the high profits achieved during these ten days. Prices of the ‘minus’ and ‘plus’ nights are expected to rise. Elefteriades said, “Prices will gradually rise the closer we get to NYE.” Innovative concepts have put the spotlight on the country as a nightlife destination. “Innovation is the way to evaluate an industry,” said Elefteriades. “Our nightlife has introduced a revolution,” he said.
Reported by Rana Freifer
Date Posted: Jan 26, 2015
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