(by Robert Mandelbaum) One of the lessons learned by hotel management during the 2001 to 2003 industry recession was the importance of attrition and cancellation clauses in group contracts. Because of 9/11 air travel stigma and the ensuing economic recession, meetings were canceled and attendance dwindled. All of the sudden, those attrition and cancellation paragraphs in the group contracts that were frequently viewed as “boiler plate” were rediscovered and helped to salvage some degree of revenue.
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