"It has been a great opportunity for all those caterers to come in and use a bigger centre and bigger commercial kitchen," Mr Field said.
"It's like an open kitchen and the caterers don't need to have all their own gear. Customers can choose which caterer and menus they want. They're not limited by having an in-house caterer. The feedback has been excellent. It's been a successful transition."
The Function Centre has a range of rooms which cater for 50 to 700 people.
"The first point of contact is when customers see us about a room and then when they've decided on the room, they choose their preferred caterer," Mr Baxter said.
"We're used to entertaining big events. We have most of the school balls coming up and we recently had a 500-person wedding."
Mr Field said the racecourse had the advantage of plenty of on-site parking and, with the Whanganui War Memorial Centre, was one of only two local venues that could accommodate large numbers at a function.
"With the War Memorial Centre closing soon for at least the rest of the year, we're getting more bookings so people will need to be quick," Mr Field said.
The War Memorial Centre will close on May 7 for earthquake strengthening and maintenance work.