| Food and Beverage Pricing |
In consideration of the recently passed legislation, Chicago Restaurant Partners in cooperation with McCormick Place, plan to make significant changes to current menu prices and fee structures beginning on August 1, 2010. All price reductions other than gratuities will remain fixed until August 31, 2011 in an effort to continue to minimize the costs to conventions exhibiting at McCormick Place. The gratuity will increase from 21.25% to 21.5% based upon a previous agreement. These changes will not only reduce the average total out-of-pocket expense to clients, but will also position McCormick Place costs below any other major convention center on many of our most highly demanded items. Pricing changes will be implemented for all catering and non-branded concessions operations. The changes are described in more detail below. Catering and Exhibitor Catering Reductions A 10% price reduction on all catering and exhibitor catering menu items will be implemented beginning in August of 2010, with additional reductions being made to the following high volume items.
Chicago Restaurant Partners has moved from a position where the total out of pocket charge to the customer for these items was at or above the average of our competitors to a position where those same charges are now consistently below the average of the competitive set and at or below the price of our lowest price competitor in each category. In addition to the significant price reductions, Chicago Restaurant Partners will also be replacing delivery charges on orders of less than $250 with a $35.00 minimum order. This change is unique amongst our competitive set and offers further savings to exhibitors placing smaller “personal consumption” orders. Instead of charging an additional charge for small orders, Chicago Restaurant partners will offer the option of paying the minimum fee or adding items to reach the minimum charge. Chicago Restaurant Partners will continue its policy of not increasing prices on orders placed during the weeks immediately preceding a show. It is a common practice at many competing facilities to increase catered food and beverage prices inside of a specified period from the start date of a show. At one national competitor, any order placed less than 30 days from the start date of a convention is subject to "show" pricing. Bottled water normally priced at $60 per case increases to $66 within this 30 day window. At another facility a case of soda that was $72 becomes $83 dollars if ordered less than 21 days prior to the start of the show. Chicago Restaurant Partners at McCormick Place offers the same pricing regardless of when the order is placed. For more information about these price changes, please contact you Chicago Restaurant Partners Sales Representative. Concessions Pricing Reductions A 20% price reduction for all purchases from non-branded food outlets items will be realized beginning in August of 2010. While this change does not include facilities such as Starbucks, Au Bon Pain, McDonald's, Manny's, etc., it will include Chicago Restaurant Partners operated locations in the Food Courts, and Exhibit Hall Food Pods. This will reduce the price of a standard meal — consisting of an entrée, side, and 16 oz. fountain drink - in our main food courts by $3.05 including sales tax. The following meals are examples of the items that are available for less than $9.50 before sales tax:
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