Monthly Archives April 2015

Proactive Savings on Investment

By David DeMoss

reactive proactive

One of the main obstacles preventing risk management systems from having more of a priority in the hospitality industry is the perceived lack of measureable return on investment (ROI). All business owners want an ROI on everything they spend time or money on.

So how do you measure the return on something that never takes place? It’s probably more appropriate to use the term ‘savings on investment’ rather than return on investment. Proactive risk management systems are set up to prevent issues from occurring or getting out of control, thereby saving you money.

The problem can be that if the system is working, it can seem as though your company is spending money on nothing, because nothing is happening. No lawsuits, out of control claims, fines or penalties.

Oddly en...

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Point-of-sale devices provide ample room for theft in the hospitality industry

Point-of-sale devices become point-of concern devices as cyber criminals target hotels. Read on to discover how cyber crime gangs are finding hotel point-of-sale systems more and more favorable to attack as IT Governance, Julia Dutton, outlines how the attacks are perpetrated, changes in the rules of compliance and what you need to do to comply with upcoming regulations.

point of sale

The hospitality industry is a notoriously easy target for cyber criminals and attackers, who are lured by the lucrative rewards offered by taking advantage of point-of-sale (POS) systems, the high volume of transactions, hotel loyalty programmes and booking databases.

Statistics from the 2014 Data Breach Investigations Report showed that hospitality and leisure accounted for 11% of all breaches.

Point-of-sale device...

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Insurance Alone is not a Good Risk Management Solution

By David DeMoss

Insurance Post-It-Note Means Financial Protection And Security

Many hoteliers think that because they have a property and casualty insurance policy, all their risk management concerns are covered. Risk management is a very broad term and it can mean different things to different people, depending on their areas of concern or history of issues. All risk management issues are handled in four categories. You can:

  • Avoid it
  • Accept it
  • Reduce/Control it
  • Transfer it

Insurance is simply a tool that is used to transfer risk of loss (the last option mentioned above) to an insurance company. The risk exposures still exist; you are simply transferring some of the possible financial loss due to those risks to the insurance company...

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Survey Finds Social Media Boosts Hotel Occupancy by 2x

If you are not doing it already, it is time for your hotel to utilize the power of social media! Lodging, and it’s staff tells us that hotel properties that actively engage with social media reviews grow occupancy at double the rate of properties that don’t, according to a study released by Medallia.

Social Media Survey

The study examines customer and business data from more than 4,400 hotel properties worldwide to understand and quantify the impact of social media engagement on a company’s revenue growth, customer satisfaction, and social reputation.

Results Overview
The study found a direct relationship between responsiveness to social media reviews and occupancy rate. Properties that responded to more than 50 percent of social reviews grew occupancy rates by 6...

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How to implement a cyberattack protection plan

Are you prepared to act quickly and flawlessly not only if, but when you become a victim of cyber intrusion?  With the growing risk and sophistication of cyber attacks and data beaches, “now” is the time to assemble your “security incident response team (SIRT)”. HotelNewsNow, Lara Shortz, directs you through implementation of your new plan.

cyber intrusion

Having a data-breach plan in place can help you act quickly, prevent further loss and assist in avoiding hefty fines.

Hospitality has been on the receiving end of several major cyberattacks in recent years.

Hotel cyber criminals are increasingly getting smarter and constantly finding new ways of stealing customer data from hotel websites, systems and front desks.
In the past few years, a slew of hotel chains were the victims of cybersecurity brea...
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Medical Marijuana and Hotels

By Michael LeVeque

For some time, the subject of Medical Marijuana has been a serious issue discussed throughout the United States. As of right now, 23 states have legalized the usage of the drug for medicinal purposes only, with more to come probably. This issue has not passed over hotels, and stories of medical marijuana users suing hotels have begun to spring up in states such as California, Colorado, and Washington. Without proper knowledge of all the rules and regulations on this topic, you will come out on the losing side and your business will suffer.

Medical-Marijuana

The first thing you need to know is that medical marijuana users must have legal proof in order to use the drug for medicinal purposes...

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How to manage vacation requests and maintain staffing in the spring and summer

There you are: riding the waves at your local beach, maybe sitting on the sand reading your favorite book, or merely riding your bicycle on that clear summer day. After a long winter we’re all looking forward to outdoor sun and fun. Not everybody can take time off. Somebody has to manage the business. BLR, Laura MacLeod, points out the best way to handle vacation requests and PTO while maintaining staffing needs.

summer-vacation

Summer is coming and beach weather, picnics, baseball, and family outings await. After a long, hard winter, we’re all looking forward to sun and fun. But not everyone can take time off. Someone has to mind the store. Staffing and ensuring attendance and performance in the lazy, hazy days of summer is not easy. Here is what you can do:

1. Get the Facts

Your staff all have pa...

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Limiting Off-Duty Employee Access To Hotels

Aligning the specifics of your off-duty employee access rules with federal law and supporting it with written policy in your employee handbook isn’t just sensible. It is a means to ensure you will meet the NLRB’s policy requirements as L. Brent Garrett with Fisher & Phillips, LLP suggests below.

LaborFlag

Many hospitality employers are surprised to learn that employees have a right under federal labor law to access the exterior, nonworking areas of the hotel property in their off-duty hours for union or other protected concerted activities. Hospitality employers are also surprised to learn that handbook rules prohibiting any off-duty employee access or conditioning off-duty employee access on manager approval are unlawful.

In fact, the legality of hotel policies restricting off-duty employee ...

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A Human Resources Road Map for the Hospitality Industry: Tapping Science to Identify Talent Potential & Drive Profitability

Competition in the hotel industry is at an all-time high which means operations must continuously evolve as well as the development of staff. Hotel Management guides you down the road to successful employee recruiting, cultivation, and maintenance to insure employee longevity.

A Human Resources Road Map

A Human Resources Road Map 2

A Human Resources Road Map 3

A Human Resources Road Map 4

A Human Resources Road Map 5

 

 

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Getting serious about risk management-Part II

A start to changing the risk management mindset, is to get an overall picture and a thorough understanding of the exposures that face the industry in which you do business as well as the industry itself. Walk through the building blocks to a successful risk management program with Property Casualty 360’s, James W. Gow, Jr, in this review.

How do you build a risk management culture?

As with any internal behavioral change, building a risk management culture requires commitment, communication, behavioral reinforcement and measurement.

It starts at the top. Executives must have an obvious and overt commitment to risk management that is well-articulated to the rest of the enterprise...
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