114: Event Food & Beverage Contracts

When contacting a hotel or other venue to hold a meeting/event there is usually a food and beverage (F&B) contract clause that stipulates the group must spend a minimum amount of money on F&B during the event, providing a source of revenue for the venue. And, if the group doe not generate the contracted amount, it will responsible for making up the difference. These are "standard" clauses, if you're in the industry. But what is the standard now after/during the pandemic? What has to be negotiated as it relates to food and beverage sourcing? What about staffing? Room sizes? Ordering deadlines? Is food service being provided in-house or by a third party? Joan Eisenstodt, respected meetings industry veteran, and Tracy as they chat about new clauses we've seen in hotel contracts and the things that we may have to consider when contracting a property.

Disclaimer: Neither Joan nor Tracy are engaged in rendering legal, accounting, or professional services through this presentation. If expert assistance is required, the services of a professional should be contracted.

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