I like the idea of a Hunting Logde being necessary. This would be a building that can only be built in rural regions (or just woodlands). The lord of the region could set up the hunt party much like city lords can set up tournaments. For the purpose of coding, I would view it exactly like a tournament. I am not sure that a gold reward would make sense, though it should still cost something to join. I also do not feel it should be a continent wide event, either private or realmwide.
While some of the code could certainly be reused, because it would most definitely
not be a continent-wide event—and thus also not be exclusive; that is, more than one Lord could be running a Hunting Party at one time—there would be significant differences in the code from how tournaments are handled.
However, we
have had a plan on the drawing board for a while of making tournaments no longer exclusive, and this would serve as a good trial run for that, too.