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Facility and Risk Assessment for Hospitality Operations

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Added on  2020-03-23

Facility and Risk Assessment for Hospitality Operations

   Added on 2020-03-23

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FACILITY AND RISK ASSESSMENT FOR HOSPITALITY OPERATIONSThe Executive Boardroom of Sofitel Sydney Wentworth Hotel NameInstitutionTutorCourseDate of submissionTable of Contents
Facility and Risk Assessment for Hospitality Operations_1
Executive summary.........................................................................................................................3Introduction......................................................................................................................................4Section 1..........................................................................................................................................41.1 Risk concept...........................................................................................................................41.2 Types of risk..........................................................................................................................51.2.1 Risks to physical assets...................................................................................................51.2.2 Risks to non-physical assets...........................................................................................51.2.3 Risks to financial assets..................................................................................................61.2.4 Risks to human assets.....................................................................................................61.3 Importance of risk management process implementation in hospitality industries...............7Section 2..........................................................................................................................................82.1 Venue Risk Analysis..............................................................................................................82.2 The Executive Boardroom of Sofitel Sydney Wentworth Hotel...........................................82.3 Risk Ranking System.............................................................................................................82.3.1 Risk Ranking at Executive Boardroom..........................................................................92.4 Venue Risk Analysis (VRA) form.......................................................................................113.1 Recommendations................................................................................................................123.2 Conclusion...........................................................................................................................13References......................................................................................................................................142
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Executive summary Conference rooms usually bring great people together in a discussion of various issues. Theseissues could be related to legal matters, business-related matters, government matters, social-economic matters as well religious affairs. As such, it is important for a hotel to invest more indesigning a proper conference room that can accommodate various groups of people from allwalks of life. The Executive Boardroom of Sofitel Sydney Wentworth Hotel is one place that hasinvested in designing an international Boardroom. The room is spacious enough to providecomfortability to the guests as well as offering a proper structure for the arrangement of chairsand tables. As it is with any other business operations, the Boardroom is faced with a couple ofpotential risks. The risks are a combination of various factors that pose a threat to the company ifnot managed in time. Due to the weight of the outcome of the unforeseen risks, it becomesnecessary for a business to put proper preventive measures into play. Therefore, riskidentification, assessment, and management process is a must for a business to have smoothoperations. Performing venue risk analysis, which encompasses risk ranking and venueassessment gives the top administration of a hotel a prior information of the likelihood and risksimpact that can occur.3
Facility and Risk Assessment for Hospitality Operations_3
IntroductionSofitel Sydney Wentworth Hotel is located in the Sydney’s CBD. Its strategic location in theheart of Sydney, where there are a majority of commercial office buildings, makes the hotel afavorable spot for hospitality. The hotel is as well near various tourist attraction sites such as theRoyal Botanic Gardens, the Hyde Park, the Sydney Harbour Bridge, the Circular Quay, and thePitt Street Mall. It becomes necessary, therefore, for the hotel to undertake risk managementstrategies to provide a secure and safe environment for their customers. It is also crucial to dealwith potential hazards related to hotel operations given that its open to all sectors of legal,government and financial segments (both international and domestic tenants). This paper,therefore, analyzes the Executive boardroom layout of the Sofitel Sydney Wentworth Hotel inconsideration to facility and risk management strategies.Section 11.1 Risk conceptIn business operations there is always the possibility of getting unexpected outcome. Risk hasbeen defined as unintended outcome or any effect of uncertainty on the objectives (Jaeger,et al.2013). Many people tend to think that risk is only a negative deviation from the expected, but italso includes the positive deviation from the initially expected outcome. Due to such unexpectedresults, the importance of risk management strategies jets in business operations (Hallikas et al.2004). It helps the company’s management to develop a coherent and a structured approach toidentifying the possible hazards, assessing and managing them when they occur. Due to theimprovement in the global economy recently, the hospitality sector is enjoying the benefits thatcome with many people going for vacation and business trips. However, the higher the activity,4
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