132 / 141
P a g e
|
4
ATTRITION AND CANCELLATION POLICIES
Should your group go ahead with its event, below are our standard cancellation and attrition policies.
Attrition:
The parties agree that the group and the Hotel will share in the loss of revenues suffered by the hotel in the
event of the group’s failure to utilize all of the rooms and services agreed to after the final 45-day review.
The group therefore agrees to pay a percentage of lost revenue.
For Guestroom room revenue, the lost revenue will be calculated by multiplying the number of rooms not
utilized out of the groups block times the average room rate of rooms actually utilized, plus tax.
For food, beverage, meeting rooms and other services revenue, lost revenue will be calculated by
subtracting the exact amount of food and beverage provided from the total anticipated food and beverage
agreed to herein. The lost revenues for food, beverage, meeting rooms and other services and for sleeping
rooms will be calculated separately.
Cancellation / Modification:
If the Group fully cancels the Event, the Hotel shall have suffered damages equivalent to the profits that the
Hotel would have earned from the sale of rooms, food and beverages, and use of recreation facilities, etc.
in connection with the Event. The Hotel reserves the right to recover lost anticipated revenues including,
but not limited to, guestrooms, function space, food and beverage according to the following schedule:
Percentage of rooms
Group Pays
80% or more
0
79% or less
100% of lost revenue
NUMBER OF DAYS PRIOR TO THE EVENT
PERCENTAGE OF LOST REVENUE
180 - 365 days
10% of anticipated revenues
136 – 179 days
25% of anticipated revenues
91 – 135 days
50% of anticipated revenues
46 – 90 days
75% of anticipated revenues
0 – 45 days
100% of anticipated revenues