ROANOKE TIMES
Copyright (c) 1996, Roanoke Times
DATE: Wednesday, December 25, 1996 TAG: 9612260020
SECTION: BUSINESS PAGE: B-8 EDITION: HOLIDAY
COLUMN: MARKETPLACE
SOURCE: MEGAN SCHNABEL
Now that Christmas shopping is behind us for another year - unless, of course, you're one of those people who will start shopping for next Christmas tomorrow morning - we can shift our thoughts to New Year's Eve.
Haven't spend enough money yet this season? Then head for New York City for a world-class blowout. According to the annual Dom Perignon Celebration Index, which tracks the costs of a dozen luxury goods and services "essential for an upscale night on the town" in the Big Apple, the rate of celebration inflation is down this year, and prices of those essentials of the high life have remained fairly stable.
The cost for the Presidential Suite at the Plaza Hotel, for instance, hasn't gone up a dime in the past year. So you can feel thrifty if you spend a night in the sumptuous suite, even though it still will run you $15,000. Although be forewarned: The cost of breakfast in bed at the Plaza went up a smidge, from $35 to $37.50. Almost enough to make a person cancel her reservations.
Also unchanged is the cost of a personal midnight fireworks display by the world-famous Gruccis. The tab: $25,000.
And you'll still spend $4,700 for a Van Cleef and Arpels "Traveler" watch, which will let you celebrate the New Year in all 24 global time zones.
All told, the tab for the dozen celebratory goods and services is up just 2.5 percent from last year, about the same rate of inflation of more pedestrian items. That's a big improvement from 1995, when prices were up 7.25 percent from the previous year.
Whatever the cost of the New Year's Eve celebration, one thing remains free: New Year's resolutions. Hint, hint.
* * *
The restaurant industry is looking forward to a profitable year, according to the 1997 Restaurant Industry Forecast, released this month by the National Restaurant Association. Although the industry is expected to grow at a slightly slower pace in 1997 than in 1996, the forecast predicts restaurant sales will hit an all-time high of $320.4 billion, a 4.2 percent increase from 1996.
The association's South Atlantic region - which includes Virginia - will top restaurant sales, with $45.6 billion, according to the forecast.
What changes will patrons see? Menu prices are predicted to rise 2.7 percent. Chefs who were surveyed for the forecast predicted international cuisine - such as Pan-Asian, Mediterranean and South/Central American - will be particularly hot in 1997. Diners will see more alternative red meats such as ostrich, plus more organic produce and grilled items. Specialty coffees, pasta, balsamic vinegar and meatless dishes will continue to be popular, the chefs said.
LENGTH: Medium: 58 lines ILLUSTRATION: GRAPHIC: Chart by staff: Dom Perignon New Year's celebrationby CNBindex. color. KEYWORDS: MGR