An appropriate response to a gift

Recently, my club moved into a new facility. Across the way from our new location is a Kendo club. I've met a few of the students and teachers there informally a few times, and things have been very hospitable.

Last weekend, at our "grand opening party," I had the opportunity to meet their chief instructor for the first time. He was very gracious, and presented me with a weapons stand and a shinai. It was quite unexpected!

I'd like to find an appropriate way of saying thank you--both for the gift and for their hospitality. However, I've not interacted with another dojo in quite this manner before. Does anyone have any suggestions? I'd also be interested in hearing about any similar experiences.

Thanks!

Give the kendo dojo a gift in return. I suggest a framed calligraphy. And cultivate their friendship --- they sound like a class act --- the next time you hold a seminar, invite their chief instructor to attend at no cost.

Jim