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Unlocking Possibility in the Hospitality Industry

World-class insight, fit-for-size solutions and expertise from key sector specialists in the hospitality industry are tailored with a personal touch to help you find better ways to manage your risk, optimise your spend, protect your people, and support your growth.
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28/04/2024

The hospitality industry has undergone a huge transformation. As a result of the rapidly evolving operating environment, integration of the logistics and transportation industry has accelerated, presenting businesses in the hospitality sector with new opportunities to drive growth. 

Insurance and risk management planning is a critical component of building sustainable growth for hotels, hospitality servicing, property management and other businesses in the sector. A trusted risk advisor can help you understand your risks on a deeper level, and identify any vulnerabilities or gaps in your insurance programs.

Having the right insurance program in place can help reduce strain and risk on your business. Marsh's Insurance Program Assessment will help you understand the direct and indirect cost implications of your existing insurance expenditures and plans.

Take our five minute survey to find out more about what you can do to protect your business.

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To limit the loss of earnings due to interruptions to your operations, we can help you to see around corners by:

  • Understanding your operations and providing you with data-backed insights into potential causes of business disruption
  • Stress testing your organisation's business continuity plans and operational resilience
  • Developing effective risk transfer and management strategies
  • Identifying your business interruption losses and costs, and advocating for appropriate recovery from insurers.

Our team of M&A specialists can help you mitigate risks and protect your assets when expanding into new markets, providing peace of mind and financial security in unfamiliar territories by:

  • Ensuring you are effectively covered to protect against risks such as property damage, liability claims, and business interruption, as well as for any specific risks prevalent in the new market, such as natural disasters or political instability.
  • Addressing and ensuring compliance with local regulations and legal requirements in the new market.
  • Considering cultural sensitivities that may impact business operations and employees.
  • Managing your cyber risk, especially when it comes to technology integration in a new market, with actionable steps to ensure adequate coverage and protection.
  • Protecting the health and well-being of your employees when travelling or relocating to a new market, as well as implementing strategies to effectively integrate workforces.

We can review your operations through an ESG lens to help understand how it influences your approach to managing risk:

  • Analysing the evolving risk environment
  • Preparing you to address future risks and build resilience
  • Assisting you to communicate an external perspective to insurers on policies and performance.

We can help you manage your top people risks, support you with attracting and retaining the right talent, and improving productivity through effective business strategies:

  • Enhancing the employee experience/EVP to attract and retain top talent
  • Investing more in benefits to improve physical/mental health
  • Improving workforce planning to optimise HR strategies and benefits plans design
  • Planning for digitisation and technology advancements such as AI and automation

Speak to one of our expert risk advisors about your business needs

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