Case Study #1 - Negotiating Attrition Penalties
An association negotiated a guest room block 3 years out of an annual conference. At the time when the hotel contract was signed the expected attendance was over estimated. Eight months before the conference was to commence the association was in the position to pay $45K in attrition charges as it could not meet committed guest room block.
Solution
Knowledge Bridge was able to leverage the association's other conference social event and leverage Knowledge Bridge's industry network to sell-off all but 1% the remaining guest room. The association's final attrition penalty was reduced from $45k to $2K.
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