Hospitality, Travel and Leisure

Industry Overview

Hospitality, Travel and Leisure

An Industry Under Pressure Requires a Proactive Approach to Risk and People

As the hospitality, travel and leisure industry continues to rebuild from the devastating effects of the pandemic, it faces both new and familiar challenges. Economic uncertainty, rising costs and talent shortages make day-to-day operations more difficult, while emerging risks, such as climate change and cyber attacks, present emerging threats.

Going forward, focusing on novel human capital strategies and the total cost of risk, alongside effective risk management and risk transfer strategies, will be vital. For example, the use of new risk financing strategies and captive or protected cell captive insurers is likely to accelerate.

Our experience enables us to provide human capital, risk management, risk mitigation and risk transfer advice tailor-made to the industry. Whether it’s better equipping your organization to deal with external business interruptions, attract and retain key talent, or helping to ensure you’re protected against data breaches, our advice is designed to enhance your ability to pre-empt and respond to the challenges you face.

Top 5 Current Risks

According to our latest Global Risk Management Survey, the biggest risks facing the Hospitality, Travel and Leisure industry include:

  • 01

    Cyber Attack or Data Breach

    Cyber attacks are, and will remain, a top risk across all geographies and industry sectors. All leaders need a cyber game plan.

  • 02

    Economic Slowdown or Slow Recovery

    Global economic uncertainty is being fueled by geopolitical volatility and unpredictable inflation and interest rates.

  • 03

    Business Interruption

    Previously, companies planned for isolated events. But the risk landscape is now more interconnected than ever before.

  • 04

    Damage to Brand or Reputation

    The fallout from a reputation crisis can be far greater than any short-term earnings losses, with some companies losing significant shareholder value.

  • 05

    Weather and Natural Disasters

    Fueled by climate change, weather-related disasters are growing more intense and generate more damage and disruption.

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