Contracting Stage Flashcards
0
Q
Site Visit/On-Site
A
Gives a client a look or feel for the property before they book. Usually to win over a client, make them feel comfortable.
1
Q
Cancelled Space
A
A booking that was cancelled after contracting where the venue has offered a credit that can be used within a certain timeframe in the future.
2
Q
Attrition Rate
A
Penalty of what was decided in the contract vs. what was picked up for sleeping rooms.
3
Q
Contractual Requirements
A
Have to be accommodated in order to sign a contract at that facility (nonnegotiable)
4
Q
Addendum
A
Something added to original contract before or after it’s signed.
5
Q
Concessions/Upgrades
A
“Extras” given by hotels free or discounted planners ask for to provide for their business.
Ex. 1 for 40 or 5% off bill if 100 rooms are booked
