Terms and Conditions

The Group agrees to spend the minimum food and beverage inclusive of service charges and taxes (the “F&B Commitment”) as designated in the package prices. Should the Group’s food and beverage revenue fall below this amount, the Group shall be liable for the difference between the F&B Commitment and the actualized food and beverage revenue multiplied by 40% (F&B Commitment minus actualized food and beverage revenue multiplied by 40%). This amount will be placed on the Group’s Master Account. The parties intend to liquidate damages in the event the Group fails to meet the food and beverage minimum set forth in this section. Therefore, the parties agree that (a) the above formula is a reasonable estimate of the Hotel’s damage in the event the food and beverage minimum set forth in this section is not met and (b) the liquidated damages set forth in this section do not constitute a penalty.