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While this may feel like yet another blog that highlights a change to travel in our post-COVID world, the many new considerations that both travellers and travel managers need to adapt to, are here with us to stay.
Whether you accept transient or group business to your hotel is more than just a revenue management question. It's also a riskmanagement question. How much are you willing to risk? And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders?
Whether you accept transient or group business to your hotel is more than just a revenue management question. It’s also a riskmanagement question. How much are you willing to risk? And what is the philosophy of the hotel, the ownership, the general manager, and other stakeholders?
Careers in riskmanagement can be rewarding. Riskmanagement teases the analytical side of the brain and there is a clear line of contribution between the work and the organization's performance. Careers in riskmanagement are also shrouded in mystery [.]
We also saw a tsunami of AI innovation, expanding fraud and financial crimes, workforce transformation and climate risk. Risky business: Highlighting an intense focus on riskmanagement was published on SAS Voices by Julie Muckleroy And let’s [.]
On January 26, 2023, the National Institute of Standards and Technology (“NIST”) released guidance entitled Artificial Intelligence RiskManagement Framework (AI RMF 1.0) (the “AI RMF”), intended to help organizations and individuals in the design, development, deployment, and use of AI systems.
With over 25 years of experience in legal strategy, riskmanagement and market expansion, I have had the privilege of helping brands navigate these challenges, and I would like to share a few key lessons to help restaurant operators thrive in today’s dynamic environment.
Hotel management company Remington Hotels has add Pam Colpoys as VP, riskmanagement. Colpoys brings more than 20 years experience to her new role and is responsible for managing claims and litigation to assess, identify and mitigate risks that could impede the safety, security, reputation or financial success of the company.
That time is now for interest rate riskmanagers, who have been basking in the warm sea of declining interest rates for most of the last four [.] Interest rate risk: Job insecurity is back for riskmanagers was published on SAS Voices by Donald van Deventer
Foster a RiskManagement Culture Creating and fostering a culture that emphasizes the importance of riskmanagement in the avoidance of costly downtime can make all the difference in mitigating common food and beverage industry risks.
DENVER, ColoradoStonebridge,a Denver-based innovative, privately owned hotel management company with a diverse range of luxury, resort, full-service, and premium select-serviceproperties, announced the promotion of 18 team members across the organization.
Operational efficiency: Streamlines data management processes while decreasing redundancy, thereby increasing the efficiency of the process. Better riskmanagement: It helps to discover and contain risks related to data so that action can be taken against potential disruption.
The promotions span key departments, including operations, accounting, technology, legal, riskmanagement, revenue strategy and commercial services. These promotions reflect our ongoing investment in people who understand what it means to deliver measurable results for our owners and elevate performance across our portfolio.
Riskmanagement Implementing sustainability measures can also improve riskmanagement. Staffing The benefits aren’t limited to riskmanagement and customer loyalty. From brand reputation to riskmanagement and customer retention, going green makes for a strong business case.
Riskmanagement resources : A good insurance provider should offer access to riskmanagement resources, such as employee training, vulnerability assessments, and incident response planning. Look for providers with a track record of successfully handling cyber claims and providing high-quality customer service.
To maximize organizational impact, restaurant food safety programs must improve the workflows that exist for facilities management, regulatory compliance, restaurant operations, and riskmanagement. Envision a restaurant kitchen framed within a physical-digital-physical scheme. Preempting Equipment Failures.
Hospitality Ventures Management Group announced the company has named Linda Philp as senior vice president and chief financial officer. She will be responsible for the company’s accounting, financial reporting, and riskmanagement functions.
Hospitality Ventures Management Group (HVMG), an Atlanta-based third-party hotel operator and investor, today announced that the company has promoted three associates to leadership roles.
Hospitality Ventures Management Group (HVMG) has promoted three associates to leadership roles. Jamison Conrey was named VP, engineering, capital projects and riskmanagement, while Androse Bell and Maggie Rose were both named GM/VP, operations.
RIU Hotels & Resorts is the first major Spanish international hotel chain to sign a global agreement with Achilles, a world-renowned expert in supply chain riskmanagement that is specialised in ESG (environmental, social and governance) criteria.
This issue impacts employers in all business sectors; however, for employers in the restaurant business, making sure your risk is placed appropriately becomes even more complicated. Stop Loss Coverage Is RiskManagement. On a basic level, stop loss insurance provides protection against catastrophic or unpredictable losses.
OUTRIGGER Hospitality Group announced Justin Kam corporate director of insurance with oversight of the insurance placement and enterprise riskmanagement for its owned and managed properties, including global properties and affiliated entities within the company structure.
Global Rescue, a security, medical evacuation, and travel riskmanagement services company, spearheaded the escape of a group of American travelers stranded in Sudan.
Hospitality Ventures Management Group (HVMG) , an Atlanta-based third-party hotel operator and investor, has named Linda Philp SVP/CFO. In her role, she is responsible for the company’s accounting, financial reporting, tax, systems optimization/technology and riskmanagement functions.
Large hotel companies employ riskmanagement professionals focused on safeguarding people and assets. Hoteliers understand that they work in an environment fraught with legal implications, multiplied by myriad municipal, state, and federal statutes and regulations.
Mitch Less has been appointed COO and oversee resort operations, food & beverage, IT, riskmanagement and several other critical areas, working directly with company leadership to execute Westgate’s strategic business plan.
Consequently, riskmanagers and senior executives need to craft a detailed riskmanagement strategy to guide informed decisions and lead the sector to prosperity. The coming years will bring significant impacts from new trends, economic shifts, environmental changes regulatory updates, and evolving guest preferences.
RiskManagement Strategies: Hotels should have well-defined protocols to handle overbooking situations effectively. Hotel overbooking can be a double-edged sword, offering potential financial benefits while also presenting risks to guest satisfaction and reputation.
In his new role, he will not only provide in-house legal advice for the company but also oversee the firm’s riskmanagement group. Stonebridge Cos. , a Denver-based, privately owned hotel owner, operator and developer, has named C.J. Chapman as its general counsel.
In this environment, smart and strategic riskmanagement has never been more important. The trick will to be bring the same resourcefulness they’ve shown so far to overcome the barriers ahead – even as they continue to leverage the opportunities. Pandemic Pivots Still in Play.
In his new role with Cliste Ryan will be responsible for financial planning, group strategy, riskmanagement and stakeholder management. Drysdale spent three years as general manager at Farnham Estate Golf and Spa Resort in Cavan, before becoming general manager at the Radisson Blu Hotel Galway for three years.
In addition to overseeing hotel operations, his role expands to include sales and marketing, riskmanagement and guest contact. Rosen Hotels & Resorts has promoted key executives, including Josh Rosen , who was elevated to EVP, operations. He also serves as a VP on the companys board of directors.
This assists in better budgeting and financial planning by providing for more informed decisions about management decisions and operational adjustments. Proper riskmanagement: The hospitality industry is subject to various uncertainties, from economic fluctuations to changes in consumer behavior.
Probabilistic methods enhance riskmanagement by preparing for various outcomes, but they can be challenging for hotels accustomed to point estimates. In contrast, AI systems like InsightMax employ probabilistic forecasting , which assigns probabilities to a range of possible outcomes rather than focusing on a single figure.
Yum Brands’ Recipe for Good reflects the organization’s ESG priorities, including social responsibility, riskmanagement and sustainable stewardship of their people, food and planet. They believe that greater awareness of where food comes from can have a far-reaching impact, and customers appreciate their efforts.
Consider the following in your riskmanagement and business continuity programs: Use of Food Delivery Services vs. Company Employees – By using a hired food delivery service, a restaurant can reduce the chance of employees having an accident by using their cars or the owner’s vehicles.
Less risk Cost-based pricing gives you enough wiggle room to adjust to the market conditions. Once you’ve accounted for all expenses, your hotel can practice riskmanagement and stay financially stable no matter what happens in the industry.
As general counsel, Jennette Roberts is responsible for ensuring corporate governance, compliance and riskmanagement for the company’s operations, and providing legal guidance to the company in its execution of strategic initiatives.
He was responsible for spearheading legal, compliance, regulatory and riskmanagement functions for the property on several issues including gaming, riskmanagement, compliance and sports betting. In 2021, he was promoted to VP/deputy general counsel, joining the Seminole Hard Rock Support Services team.
Awarding the certificates demonstrates FutureLog’s ongoing commitment to maintaining the highest standards of operational efficiency, riskmanagement, and client data security.
RiskManagement: Analytics can help identify potential risks and vulnerabilities within operations, from financial to reputational risks. Market Trends and Competitor Analysis: By analyzing market trends and competitor performance, businesses can identify opportunities for growth, innovation, and differentiation.
ELM Owners are executives/decision-makers having pivotal P&L roles such as CEOs, COOs, and general and department managers, all of whom today have responsibilities not only for upside sales and margin lift but also operational efficiencies and riskmanagement for their businesses.
Riskmanagement: Forecasting helps you identify potential risks and develop contingency plans to mitigate their impact on your investment, protecting your financial interests and ensuring the hotel’s long-term success.
Stefano Borzillo, Associate Professor of Organizational Behavior, specializes in topics relating to individual and collective performance and for a more financial perspective, Dr. Augusto Hasman, also an associate professor at EHL, who teaches finance and riskmanagement.
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