GUEST ROOM ATTRITION. Group understands that Hotel is relying upon Group’s use of the block of rooms. Group shall pay any actual, reasonable, documented damages or loss to Hotel for which it is liable under Tennessee law. Hotel shall be obligated to mitigate its damages.
GUEST ROOM ATTRITION. Group agrees to provide a minimum dollar amount of guest room revenue which shall be equal to the number of guest room nights set forth in the Guest Room Accommodation chart (or the number of guest room nights as adjusted pursuant to the Room and Space Block Review clause, if any) times Group’s average guest room rate, not including tax (the “Minimum Revenue”). If Group holds its meeting as agreed, Hotel will waive its right to seek damages for Group’s failure to achieve the Minimum Revenue if Group achieves at least 90% of the Minimum Revenue. Should Group fall below this amount, Group will pay as a reasonable estimate of the Hotel’s losses an amount equal to the difference between 90% of the Minimum Revenue and the actual guest room revenue achieved by Group (the “Attrition Damages”). All applicable taxes on the Attrition Damages will be paid by Group.
GUEST ROOM ATTRITION. [X] Department and Hotel agree that Guest Room attrition charges will not apply to this Agreement.
GUEST ROOM ATTRITION. Hotel is relying on, and Group agrees to provide, a minimum dollar amount of $41,075.00 guest room revenue (exclusive of food and beverage charges, meeting room rentals, and other non-room charges) which shall be equal to the number of room nights set forth in the Guest Room Accommodation chart (as agreed above in room and space block review clause) times the Group’s average room rate (exclusive of taxes). The Hotel will extend a 15% allowance in guestroom revenue. Should the Group fall below this amount, the Group will be responsible for the difference between 85% of the minimum guest room revenue set forth above and the actual guest room revenue of the Group, less the guest room revenue (at an agreed upon expected resale value equal to 80% of the Gr0oup’s average room rate) resulting from any rooms resold by the Hotel. Such amount shall be subject to all applicable taxes, which shall be paid by Group. For purposes of this contract, “rooms resold by the Hotel” refers to the last rooms sold by the Hotel (i.e., if the Group does not utilize 30 rooms from the room block, and 10 rooms were resold by the Hotel, the payment due will be the revenue on the remaining 20 rooms at the groups rate). The Hotel and Group agree that the payment described above is a reasonable estimate of the Hotel’s damage resulting from the non-use of the room block and that the agreed rate is a reasonable estimate of the rate which will be achievable at the time of resale, and the payment does not constitute a penalty.
GUEST ROOM ATTRITION. Group agrees to provide a minimum dollar amount of guest room revenue which shall be equal to the number of guest room nights set forth in the Guest Room Commitment chart multiplied by the Group’s average guest room rate, not including tax (the “Minimum Revenue”). If Group holds its meeting as agreed, Hotel will waive its right to seek damages for Group’s failure to achieve the Minimum Revenue if Group achieves at least 90% of the Minimum Revenue. Should Group fall below this amount, Group will pay as a reasonable estimate of the Hotel’s losses an amount equal to the difference between 90% of the Minimum Revenue and the actual guest room revenue achieved by Group (the “Attrition Damages”). All applicable taxes on the Attrition Damages will be paid by Group.
