CHS President's Handbook 2013

Articles about the School of Hotel Administration

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Page 43 of 70

Cornell Hotel Society-Chapter President's Handbook Casino nights require a lot of organization but are highly successful fundraisers—and fun. Fundraising EVENT PLANNING: THE COUNTDOWN Twelve Weeks Ahead Three months before an event, the Board should meet to finalize details for that program. At the beginning of the planning process, establishing backup dates and ideas is wise in case the initial idea cannot be fulfilled. Try to finalize details for events coming up in the next 3 months. Be specific about the following details: • Content - Confirm type of event, speaker(s), and topic. • Date - Verify with Alumni Affairs Office to avoid conflict with other Society events. From your initial planning meeting, you may have set a goal such as wanting to hold the event on a Wednesday night in February around 7pm. As you finalize the details with your venue and coordinate with the Alumni Affairs Office, you may find that one date works better than the others. • Venue - This may mean signing a contract (click for example ) and putting down a deposit or simply reserving a space in a bar for a happy hour. Start this process as early as possible to enable time to shop around for the most attractive facilities, location and pricing. You may want to consider and formal RFP process (click for example ) as you reach out to a few venues that would meet your needs. The President should sign all contracts and have the Treasurer review them. • Timing - Finalize the time of the event with your venue. This may mean a start and end time, but also a time for cocktails or the first course to be served or the presentation to begin. • Pricing - Based on the contract with your venue, any additional costs (such as decorations, entertainment, printing and stationery), and estimated attendance (look at notes from past events to help you forecast the attendance), create a budget for the event and determine pricing. You want to ensure that the Chapter will not lose money on the event. There are no provisions in the principal CHS treasury for contingency funds for Chapter "overruns," so be sure your financial plans are well founded. As you are negotiating with the venue, play close attention to F&B minimums and the target price you want to charge your guests to ensure you will be able to meet those requirements. Unless this is a fundraising event, the goal is to break even, erring on the side of a small profit (to cover other events that may end in a loss). (Click for example ) • Variable Pricing - You may want to have a two or three different prices to encourage early registration or a discount for young alumni. Page | 44

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