Hotel Risk Analysis:

The reduction of various kinds of physical and liability risks associated with the hotel business is one of the most significant aspects of managing and operating a hotel. This process of risk management requires risk analysis, which is the process of examining the hotel's risk exposure and developing appropriate strategies for lessening and preventing those risks. This risk management and analysis process also involves developing a program for minimizing the business' exposure to risks through supplementing insurance protection in case the incident takes place. A hotel manager would enhance the effectiveness and profitability of the business by eliminating every possibility of incidents occurring on the property. However, this is not always possible since the hotel manager does not have control over certain incidents (Rushmore, 2010, p.18). This paper discusses the appropriate insurance for a hotel through examining importance of property insurance, difference between independent agency and exclusive...
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