Survey Shows the Return of the Company Holiday Party McCormick & Schmick's Seafood Restaurants Makes Quality Holiday Entertaining Affordable for Small Businesses

PORTLAND, Ore., Nov 09, 2009 (BUSINESS WIRE) -- While many businesses, especially small businesses, cancelled or downsized holiday celebrations in 2008, things are looking up this holiday season. A recent nationwide survey* by McCormick & Schmick's Seafood Restaurants [Nasdaq: MSSR] of small business owners, managers and decision makers found that the majority are planning holiday parties for employees this year. While the more extravagant holiday party budgets of years past have been reduced, small business owners are planning more modest parties this holiday season, without wanting to sacrifice quality. One-third of those polled indicated they are planning to spend $30 or more per employee.

Specific survey findings include: -- The majority (52 percent) of small business executives want their company to have a holiday party for its employees this year. Executives at companies with annual revenue exceeding $750K are more likely than those with annual revenue of less than $750K to want a holiday party (68 percent versus 47 percent, respectively).

-- 31 percent of small businesses who had a holiday party in 2008 scaled it back because of the economy. Downsizing holiday parties in 2008 was more prevalent among companies in the wholesale/retail sector (39 percent) than in the financial services sector (24 percent) or professional services (24 percent).

-- 31 percent of small businesses are likely to spend $30 or more per employee on their 2009 holiday party. 24 percent of small businesses are likely to spend $50 or more per employee on their 2009 holiday party, 19 percent are likely to spend $20 to $49 per employee and 12 percent are likely to spend less than $20 per employee. Overall, small businesses who said they are likely to have a holiday party plan to spend an average of $36 per employee.

"Our goal this year is to help businesses plan celebrations that fit within their budgets without sacrificing quality," said Bill Freeman, CEO of McCormick & Schmick's Seafood Restaurants. "We know from what we are hearing from our guests and this research that businesses are looking for smaller, more economical ways to celebrate the holidays -- department luncheons, small client get-togethers and employee recognition events -- and we've created an appealing offer to accommodate these requests." This holiday season, McCormick & Schmick's is offering a Sunday through Thursday party package featuring a three-course meal with beverage for $26.95 per person -- perfect for the small business owner looking to spend around $30 per employee. Guests will start with their choice of soup or salad, and then choose from a selection of entrees including Seafood Steamer, Cedar-Plank Salmon, Top Sirloin, Baked Stuffed Shrimp and more. Guests will end their meal with a choice of Creme Brulee, Fruit Cobbler or a Decadent Chocolate dessert.

As an added incentive, McCormick & Schmick's is providing $20 dining certificates for all party guests, good for a future visit in 2010.

"The $20 dining certificate offers small business owners an added value that they can then pass on to their employees," added Freeman.

For more information about McCormick & Schmick's Seafood Restaurants' holiday offers and to find a location, please visit www.McCormickandSchmicks.com.

About McCormick & Schmick's Seafood Restaurants McCormick & Schmick's Seafood Restaurants focus on serving a broad selection of fresh seafood with a menu printed twice daily and featuring the signature "Fresh List" of more than 30 Different Varieties of Fresh Seafood, in addition to aged steaks, poultry, entree salads and pasta. Each restaurant's chef contributes to the menu's unique and imaginative appeal by creating dishes tailored to regional tastes and their own talents. McCormick & Schmick's offers an inviting atmosphere and a high quality, diverse menu for everyone from casual diners, families and tourists to business travelers and special occasion diners. Learn more at www.McCormickandSchmicks.com.

* This report presents the findings of a telephone survey conducted among a sample of 500 Small Business executives of companies with less than 100 employees. Interviewing for this survey was completed during the period October 22-29, 2009.

SOURCE: McCormick & Schmick's Seafood Restaurants CONTACT: On behalf of McCormick & Schmick's Brittany Mohr, 916-492-5383 [e-mail] Copyright Business Wire 2009 -0- KEYWORD: United States

North America

Oregon INDUSTRY KEYWORD: Restaurant/Bar

Small Business

Professional Services

Retail

Food/Beverage SUBJECT CODE: Survey