Hospitality & Travel
Traditionally, Risk Managers in the hotel and hospitality sector have been engaged more in dealing with property risks, reputation risks/brand management, and political risks. More recently pandemics and terrorism have engaged the attention of the hotel industry. The hotel and hospitality industry is increasingly being exposed to a number of new risks which fall outside the ambit of the traditional risk categories. Some of these include risks related to mixed-use construction, medical spas (spas within hotels that offer botox, laser resurfacing, etc.), and cyber risks dealing with credit card data and personal information housed on hotel keycards. Product liability risks stemming from the sales of branded products such as bedding and spa items are also considered to be growing exposures.