College seniors and members of the Sigma Tau fraternity are gearing up for their last-ever Luau Party. Preparations are well underway when a pledge accidentally drops a beer keg down the stairs leading into the basement. It crashes into a wall, revealing a hidden room and inside a strange and ornate chalice atop a stone block. The chalice, now being passed around by the partygoers, likely contained something evil - now released onto them. His suspicions are soon confirmed when an malignant entity begins making its way through the house; still oblivious to the danger lurking in the shadows, the partygoers continue raging as frat brothers, sorority sisters, and pledges are being killed off left and right. As dawn approaches, only one of them may be left alive.