Top Five Tips for an Affordable, A-List Oscars Party

oscar statue - oscars partyCreate your own red carpet event for an Oscar-viewing party on Feb. 27. Celebrity event planner Mark Addison, who's worked with stars such as Kelly Ripa, Drew Barrymore and Queen Latifah, knows how to throw an Academy Award bash on a budget.

Addison shared his tips on how to make a viewing party both memorable and affordable:1. Create Your Own Red Carpet

Where would the Oscars be without a red carpet? Incorporate one into your award party. Addison suggested hanging a set of bed linens on one wall and creating dimension by pinning them up into dramatic swoops. "You don't even need a red carpet underneath," he said. "Any floor covering will do. The award shows I design, more often than not, have any color other than red." Remember to tell your guests to dress to impress and snap a few photos.

2. Movie Snacks

Nothing goes better with movies than popcorn. Addison recommends adding flavor twists to the classic snack, inspired by the Foreign Language Films category. Because Mexico, Greece and Algeria are all participating, select spices and herbs inspired by each country. The treat will not only add a variety of tastes, but will also tie in well with the film theme.

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Check out MovieFone's Oscar 2011 coverage, with a complete list of nominees, predictions, printable ballots and more, including red carpet coverage.

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3. Make an Oscar-Winning Soundtrack

Addison said that burning a playlist made up of music from the soundtracks of Best Picture nominees will set the mood for pre- and post-show ambiance. He also suggested including tracks from those in the running for Original Score. Include music from the Best Foreign Film Nominees for an international flair.

4. Make the Event a Little More Interesting

Why not place a bet on predicted winners? Addison recommends getting in on the competition by printing out the list of nominees from Oscar.go.com. During the pre-show, have guests vote on a favorite in each category. After the winners have been revealed, determine who selected the most winners. The person with the most can receive an inexpensive gift, such as a copy of one of Best Picture soundtracks or bottle of wine.

5. Turn up the Swag

Make sure that the guests are treated like celebrities at your red carpet event. Put together gift bags to thank all of the guests for coming. Miniature bottles of booze, beauty products, little trinkets and snack packs make great additions to the swag bags. "My secret tip is to collect miniatures from hotels when I travel," said Addison. "Top it off by going online and printing out mini-Oscars and movie posters to give your bags the proper look and feel. At this Oscar party, everyone is a winner."

Also on AOL:

Want to know what it's like to work at the Oscars? Read about one journalist's personal account on AOL Jobs.

See the big box office numbers this year's Oscar nominees drew in on DailyFinance.

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