Elevating Guest Experiences: Risk Management and Human Capital Solutions for Modern Hospitality

From front desk to back office, we understand the complex risks facing today's hospitality operations. We’ve created a Financial Impact Report that focuses on aligning your business objectives with Risk Management and Human Capital solutions.

First, we ground our understanding of your business in the context of what is happening today in the wider industry…

Market Performance
The U.S. hospitality industry is experiencing steady growth, with the market size projected to increase from $235.96 billion in 2024 to $299.29 billion by 2029, reflecting a compound annual growth rate (CAGR) of 4.87%.
The industry's expansion is driven by robust consumer spending and a surge in domestic and international travel.
Source: MORDOR INTELLIGENCE
2024
Labor Market Dynamics
The leisure and hospitality sector continues to add jobs, with 42,000 positions filled in May 2024, surpassing the average monthly increase of 35,000 over the past year.
Employment in food services and drinking places saw a notable rise with 25,000 additional jobs, indicating a robust recovery as consumers maintain spending on luxury experiences like travel.
Source: THE WALL STREET JOURNAL
2024
Consumer Behavior
A significant portion of American employees are engaging in 'hush workcations,' working remotely while on vacation without informing their supervisors, with 29% admitting to this practice.
This trend reflects a blending of business and leisure travel, influencing hotel services and amenities to cater to remote work needs.
Source: THE SUN
2024
Economic Challenges
Lower-income Americans have reduced hotel bookings due to declining savings and rising credit card delinquencies, leading to a 0.5% overall drop in U.S. hotel room demand in April 2024.
Midscale and economy hotel bookings experienced declines of 2.7% and 3.9%, respectively, impacting the industry's outlook.
Source: REUTERS
2024
Business Travel Trends
Business travel in the U.S. has returned to pre-pandemic levels, with a notable shift towards domestic trips and increased activity from small- and medium-sized enterprises.
Hyatt reported a 12% year-to-date increase in corporate accounts and a 6% year-over-year rise in total business travel, indicating a robust recovery in this segment.
Source: REUTERS
2024

We search for both Visible and Hidden Risks in your operations.

Visible Risks

  • Property Damage (Buildings, Facilities)
  • General Liability
  • Workers' Compensation
  • Food Safety
  • Guest Security
  • Vehicle Fleet
  • Equipment Breakdown

Hidden Risks

  • Cyber Security Threats
  • Business Interruption
  • Reputation Management
  • Labor Relations
  • Regulatory Compliance
  • Supply Chain Disruption
  • Environmental Sustainability
  • Crisis Management
  • Data Privacy
  • Booking Platform Dependencies

Next, we apply our EBITDA Edge framework to your business…

1

Discovery

  • Comprehensive property operation analysis
  • Guest experience risk assessment
  • Historical incident pattern review
  • Third-party vendor evaluation
  • Cybersecurity vulnerability mapping
2

Risk Mitigation

  • Custom safety programs
  • Food safety protocols
  • Employee safety training
  • Crisis management planning
  • Guest security protocols
3

Modeling & Analytics

  • Occupancy impact analysis
  • Seasonal risk modeling
  • Revenue optimization strategies
  • Operating cost assessment
  • Labor cost optimization
4

Claims Process

  • 24/7 incident reporting
  • Guest complaint resolution
  • Mobile documentation tools
  • Business continuity planning
  • Rapid response procedures
5

Risk Transfer

  • Customized coverage design
  • Market capacity optimization
  • Business interruption solutions
  • Cyber liability protection
  • Management liability programs

We focus on the business drivers that impact your business…

    • Market penetration strategies

    • Brand development

    • Digital presence optimization

    • Loyalty program enhancement

    • Experience differentiation

    • Technology integration

    • Ancillary revenue streams

    • Market positioning

    • Supply chain reliability

    • Energy efficiency

    • Facility maintenance

    • Service quality consistency

    • Sustainable practices

    • Revenue management

    • Crisis preparedness

    • Technology resilience

    • Asset management

    • Property improvement planning

    • Expansion financing

    • Portfolio optimization

    • Working capital management

    • Operational efficiency

    • Brand standards compliance

    • Investment strategies

Lastly, to execute on our goals, we’ve created a suite of world-class tools customized specifically for the hospitality industry…

📊

Risk Mapping Edge

Comprehensive analysis of hospitality operations to identify and address unique risk exposures across your entire property portfolio.

  • Detailed mapping of property and guest service risks
  • Facility safety and security assessment
  • Food service and amenity risk evaluation
  • Guest privacy and cyber vulnerability mapping
  • Staff and service delivery risk assessment
🔍

Risk Insight Edge

Strategic analysis of hospitality industry trends and emerging opportunities in modern guest services.

  • Digital transformation and automation opportunities
  • Sustainable hospitality practices implementation
  • Guest experience enhancement strategies
  • Ancillary revenue stream development
  • Market segment diversification analysis
📈

Market Intelligence Edge

Deep understanding of hospitality insurance markets and rate environments across different coverage lines.

  • Property and liability market condition tracking
  • Cyber insurance market analysis
  • Catastrophe impact on coverage availability
  • Management liability market monitoring
  • Specialized coverage options for amenities
💹

Pricing Edge

Strategic approach to optimizing insurance costs through risk quality improvements and market positioning.

  • Guest safety program enhancement strategies
  • Claims frequency reduction initiatives
  • Risk management technology implementation
  • Alternative risk financing solutions
  • Experience modification rate optimization