Attrition clauses: outstanding issues and recommendations for meeting planners [Summary]

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Date
2005-03
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Publisher
Virginia Tech
Abstract

This paper deals with the attrition clauses within hotel group sales agreements, the former of which became popular in the early 1990s. Attrition clauses specify pre-determined liquidated damages that a group (usually a corporation or an association) must pay to the hotel in case the group does not pick up a certain percentage of its room block. Attrition charges may also apply to food and beverage agreements as well as to meeting facilities.

Description
Keywords
Attrition clauses, Liquidated damages, Hotel group sales agreements
Citation