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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