5 company retreat budget examples
5 company retreat budget examples
Sara Iannacone · 9/9/2023
Wondering how to make an offsite budget? The average team retreat costs about $2,000-$3,000 per person, but varies depending on location, travel, accommodations, and other expenses. While every event will be different, these example company retreat budgets will provide a great starting point for what you can expect and how to start creating your own.
While the majority of team members are eager to work remotely, it does come at a cost in terms of connection. In fact, 60% of remote workers say they feel less connected to their colleagues. That’s where company offsites and team retreats come in.
While they are an investment, they pay off in terms of productivity, creativity, and more. Harvard Business Review uncovered that time socializing can increase positive communication among teams by 50%.
So, where do you start when you want to create incredible team building corporate events, like offsites and retreats?
Before you get to the fun part, you’ve got to build the foundation: a comprehensive event budget. Today, we’re sharing examples of five different events at popular offsite and event destinations to help you get an idea of how your average expenses might shape up.
Company retreat budgets are complex—we’ll help you simplify the process
There are a lot of factors that come into play when planning your company retreat budget. For this post, we’re outlining five different corporate event options for diverse functions.
These are hypothetical examples designed to closely mirror average costs, so they’ll give you a jumping-off point with accurate ballpark figures and supporting info that will help as you learn how to budget for your retreat.
Want to start building your team retreat budget as you read this post? Make a copy of our event budget template in Google Sheets and download our Ultimate Budgeting Guide ebook for even more resources.
Austin, TX - Team building offsite: $25,595
The intent of this team building offsite in Austin is to gather a 10-person software engineering team for the first time all together. The goal is fun, connection, and luxury, with a little bit of coworking and brainstorming meshed in. Let’s look at the numbers.
Accommodation: $1,000
2 nights in a 4-star hotel in downtown Austin.
Pro tip: Keep in mind that hotel prices for company retreats vary greatly depending on seasonality, number of attendees, how many dates, location of the hotel in the city, etc. This is based on a very highly regarded, centrally located hotel, so the group could save on any transportation costs. Everything is highly walkable from this property.
Travel: $398
Cost for standard economy from New York to Austin plus $50 in Uber ground transportation to and from the airport.
Meals: $564
2 coffee breaks, 2 lunches, 1 bubbly brunch, and 1 dinner with an open bar hosted at the hotel. Note: This figure includes 8.25% tax and 25% service fee.
Coworking Space: $0
Hosted at the hotel. Space rental waived due to food and beverage consumption.
Activity #1 – Cooking Class & Mixology Experience: $250
Similar to our experience in NYC, a local Austin chef will prepare appetizers and a 4-course meal with cocktail pairings with the team. Then, they can enjoy a night of feasting together!
Activity #2 – Ghost Pepper Glass Blowing: $85
Each team member will go home with a fun souvenir! Featuring company colors, perhaps? We love an on-brand activity.
Planning Fee: $150
This is a rough estimate of what your planning fee might be. Fees can vary depending on the number of events you book, participants, or other factors.
Swag Box: $75
Logoed Polo shirt for wear at leisure.
Estimated total per person: $2,522
Estimated fixed costs (shipping, print materials): $375
Estimated team offsite total: $25,595
San Francisco, CA - Coworking & fun: $232,875
It’s been a while since this company has had its entire 75-person team in one space. They’re flying the whole team out to their Silicon Valley headquarters for 4 days and 4 nights for strategy sessions, coworking, brainstorming, and of course, a little bit of fun.
Accommodation: $1,380
4 nights in a 4-star hotel in Union Square.
Travel: $450
Cost for standard economy from Dallas to San Francisco plus $80 in Uber ground transportation to and from the airport.
Meals at Hotel: $450
1 welcome reception and dinner and 1 departure bubbly brunch. Note: This figure includes 8.7225% tax and 24% service fee.
Offsite Meals: $350
3 coffee chats, 3 lunches, 1 dinner
Coworking Space: $0
Hosted at their office.
Activity #1 – Scavenger Hunt in the Mission District: $75
Activity #2 – Murder Mystery Comedy Magic Show with Dinner: $300
Hosted at an offsite restaurant venue.
Activity #3 – Multi-Course Food & Drink Tour: $160
Great way to pair team building with dinner to save on costs!
Planning Fee: $150
Estimated total per person: $3,045
Estimated fixed costs (transportation to activities, photographer/ videographer – great for recruitment and marketing materials post-event): $4,500
Estimated team offsite total: $232,875
Denver, CO - Design team strategy offsite: $50,750
This organization is dealing with a bit of competition, so they want to get their 25-person design and innovation team together for a 2.5-day, 2 night offsite where they can brainstorm new products. The goal is mostly coworking with some entertainment activities to get creative juices flowing.
Accommodation: $550
2 nights in a 4-star Downtown Denver property.
Travel: $470
Cost for standard economy from Orlando to Denver plus $80 in Uber ground transportation to and from the airport.
Meals at Hotel: $180
1 welcome reception and dinner. Note: This figure includes 8% tax and 26% service fee.
Offsite Meals: $250
2 coffee chats, 2 lunches, 1 dinner
Coworking Space: $90
The coworking space is $45 per day, per person.
Activity #1 – Intention Setting Workshop: $60
Activity #2 – Resilience Workshop: $60
Activity #3 – Wine & Chocolate Truffle Making Party: $202
Planning Fee: $150
Estimated total per person: $2,012
Estimated fixed costs (shipping, print materials): $450
Estimated team offsite total: $50,750
New York, NY - Luxury executive retreat: $30,568
Each year the 8 management team executives gather to review goals, strategize, and indulge in the finer things for 2.5 days and 2 nights.
Accommodation: $1,400
2 nights at a 5-star hotel near Central Park.
Travel: $958
Business class fare from Dallas to New York with premium black car service to and from Manhattan.
Meals at Hotel: $350
1 welcome dinner, including a multi-course tasting menu with pairings. Note: This figure includes 8% tax and 26% service fee.
Offsite Meals: $450
2 coffee chats, 1 lunch, 1 brunch
Activity #1 – Aged Tea & Honey Pairing: $196
Activity #2 – Luxury Food & Drink Tour in the East Village: $157
Activity #3 – Resilience Workshop: $60
Planning Fee: $150
Estimated total per person: $3,571
Estimated fixed costs (hotel meeting space, activity transportation): $2,000
Estimated team building offsite total: $30,568
Miami, FL - Sales kickoff meeting: $82,810
This 35-person sales team is kicking off a new year with goal-setting sessions, strategy workshops, and a whole lot of fun! The SKO will be 3-days, 2-nights long.
Accommodation: $500
2 nights in a 4-star property in Sunny Isles Beach, East Miami.
Travel: $536
Cost for standard economy from Chicago to Miami plus $100 in Uber ground transportation to and from the airport.
Meals at Hotel: $450
1 welcome reception and dinner, 2 coffee chats, 2 lunches. Note: This figure includes 7% tax and 24% service fee.
Coworking Space: $0
Hosted at the hotel, complimentary with food and beverage spend.
Activity #1 – Florida Everglades Airboat Adventure: $60
Activity #2 – Island Snorkeling: $125
Activity #3 – Mosaic Art Class: $75
Activity #4 – Cooking Class & Mixology Experience: $250
Swag Box: $150
SKO-logoed beach towel, reusable water bottle, mini branded drone, etc.
Planning Fee: $150
Estimated total per person: $2,296
Estimated fixed costs (shipping, signage, print materials, photography/ videography): $2,450
Estimated team offsite total: $82,810
Estimate the cost of your offsite using BoomPop’s Budget Estimator
Each offsite is unique so predicting how much to budget can be complicated. Try out our Budget Estimator—your essential tool for financial clarity and confidence.
Enter the key details of your event, including the number of attendees, location, and number of nights and tailor to your specific needs. The Budget Estimator breaks down your budget into categories so you can better visualize and understand your unique budget.
The Budget Estimator helps you make informed decisions with a clear understanding of your event’s financial landscape. Make wise financial decisions and set the stage for a successful event that aligns with your objectives and budget.
Company offsites are an investment that will pay off
To sum it up, the average team retreat costs $2,000-3,000 per attendee but can vary significantly. Every corporate event is unique, and your budget should be reflective of your goals.
Whether you opt for a budget-friendly outing or an extravagant getaway, the value your team will get out of connecting, collaborating, and developing relationships is truly invaluable to your business.
Download our budget template, check out our tips for saving money on your offsite, or get in touch to start planning today.
