ABC Association and XYZ Hotel signed a contract to have a meeting with a guestroom block. The contract was well written, covering all necessary clauses, and the event was scheduled between March th and March th

However, due to COVID the ABC Association was unable to execute the conference and needed to drop the reservation one month before the event.

The LOA clearly states that the reservation can only be canceled by either party without penalty up to days in advance of the commencement date. If the XYZ hotel generates $ of profit per hotel room, how much does the ABC Association need to pay for the cancellation fee?

Answer rating: 100% (QA)

To solve this problem we need to calculate the cancellation fee that the ABC Association needs to ... View the full answer