Remove Accounting Remove Procurement Remove Risk Management
article thumbnail

How F&B Companies Can Mitigate Some of the Industry’s Biggest Risks

Modern Restaurant Management

Given its expanding market share, it’s become increasingly critical for businesses to plan for and be aware of some of the industry’s greatest risks of disruption. Below are effective ways that some of the most common industry risks can be mitigated.

article thumbnail

Serving Up Protection: Navigating Liquor Liability in the Restaurant Industry

Modern Restaurant Management

However, relying solely on liquor liability insurance may leave businesses exposed to costly risks. The Challenges of Procuring Liquor Liability Insurance The inherent risks associated with selling alcohol make obtaining the right insurance coverage both essential and expensive.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Hotel insurance: Costs, coverage, and requirements

SiteMinder

Given that hotels can be unique accommodations and physical buildings, insurance policies will often also take into account all the different amenities and spaces within the property too. With so much activity happening and many different amenities and services running, hotels can be exposed to quite a large degree of financial risk.

article thumbnail

Key Ingredients for Effective Vendor Management in Food Service

Synergy Suite

Poor accounting practices amplify these issues. When orders and invoices are managed manually, the likelihood of human error in financial records increases, affecting food costs and informed decisions. Regular, transparent dialogue ensures that issues are resolved swiftly and alignment on expectations is maintained.

article thumbnail

How to create a business plan for a hotel

Les Roches

For this, you will need to provide well-reasoned, yearly projections that take into account peak seasons and off-peak periods – and it’s the same in a large or small hotel plan. Risk management Risk management is essential in any sector, including the hospitality industry.

article thumbnail

Everything you need to know about resort development

Les Roches

Resort development is a complex discipline, requiring meticulous planning, strategic design, procurement, construction, operations and marketing. This guide covers everything you need to know about resort development, from planning a resort to effectively managing a thriving destination.

article thumbnail

PPP Flexibility, Free Reopening Resources and HungerForce

Modern Restaurant Management

His responsibilities spanned a broad range of financial initiatives and requirements, including mergers and acquisitions, initial public offerings (IPOs), taxes, public and private corporate financial strategy and operations, corporate structured finance, capital markets, credit risk management, and pension fund management.