Risk Management

Finance & Reporting

  • Fund Management – Insufficient access to capital or inadequate funding
  • Capital Expenditure – Delays / Cost overruns adversely impacting budgeted revenues

Sourcing

Procurement Planning

  • Inability to manage volatility in input costs
  • Marketing survey for all input items for tracking quality, availability and pricing

Legal, Secretarial & Compliance

  • Statutory Compliance – Failure to comply with Statutory / Regulatory compliance requirements
  • Contract Management – Risk of unclear title

Strategy

Operating Structure

  • Inability to manage operations independently
  • Possibility of adverse relations / service quality with Operators

Business Continuity Planning

  • Inadequate business continuity / disaster recovery plan in the event of Fire / Natural Disaster, Safeguarding accounting records, licenses, etc.
  • Taking care of Loss of Profit in case of distraction by Fire or any other peril

Sales & Marketing

  • Strategic Planning – Competition risk – Lower ARR / Occupancy Rates
  • Guest Servicing – Brand reputation – nonuniform guest experience across properties

Human Resource

Sourcing

  • Getting quality people
  • Recognition of employees
  • Training & Mentoring
  • Retention of employees covering environmental risk, remuneration risk & providing career and growth
  • RLeakage of data to be safeguarded

Front Office

  • Details & Photo IDs of the Guests – All details and Photo IDs without failure has to be taken prior to handing over room keys. There cannot be any exception. All Photo IDs must have an address.

Security

  • Unforeseen Incidents – Liaison with Police and any uniform authorities should be through the Employee Entrance and not from the Lobby. Marked Police Vehicles in the Hotel Driveway should be avoided

PR Activities

  • Interaction with Media – All Media queries to be answered ideally by GM only. No one else ommunicates to the Media

F&B

Food Quality

  • Maintaining quality of food is very important and could be a vulnerable risk
  • Health check-ups at regular intervals of Kitchen staff to maintain hygiene

Engineering

  • Maintenance – Repairs & Maintenance of structural nature, fire detection and protection system, minimum consumption of electricity by all equipments, safeguarding breakdown of machines, tracking of temperature of equipments in kitchen area and in the entire premises, etc.

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