CFS421T | Risk Assessment | The Risks Accor Hotels Faced In 2017
Critically discuss the risks that Accor hotels faced in 2017.
Answer:
Risks faced by Accor Hotels in 2017:
The following are the major risks faced by Accor Hotels in 2017:
Legal and regulatory instability:
There are chances that few governments might initiate new law
s or raise tax rates or tighten current legislation like data protection laws. Due to these unstable regulations and laws, the impact would be adverse on the business operations of Accor Hotels and progress in the nations concerned. Most importantly, the international concern about environmental issues, especially climate change, might result in stringent regulatory needs (Accorhotels.group, 2018).
Epidemics:
The incidence of epidemics could have drastic impact on the business operations of the hotel in its host nations. The events like Ebola, SARS and Zika could result in decline in guest numbers, which would result in minimisation in business revenue.
Changes in the competitive environment:
Since the operating conditions of the hotel are highly competitive, it might become more intense by the arrival of new market players. Moreover, the increasing pace of technological innovations and quick take-up has further added to the risk burden of the hotel (Choi, Wallace & Wang, 2016).With the rise in complexities in competitive operating environment of Accor Hotels, the business volume of the group might decline, which would lead to adverse business outcomes.
Unfavourable change in economic environment:
Since the operations of Accor Hotels are reliant largely on Europe, any unfavourable change in the economic condition of the continent would have negative effect on the business functions and revenue generating capacity of the hotel.
Smear campaign and libel risks:
If some of the business practices are not considered to be acceptable by uts stakeholders, there is high chance that the hotel might encounter criticisms or smear campaigns or calls related to hotel boycott. Such campaigns would have negative effect on the brand image of the hotel and thus, the business outlook and growth of the hotel would be slowed down.
References:
Accorhotels.group. (2018). AccorHotels Investors information. Retrieved 11 September 2018, from https://www.accorhotels.group/en/investors
Choi, T. M., Wallace, S. W., & Wang, Y. (2016). Risk management and coordination in service supply chains: information, logistics and outsourcing. Journal of the Operational Research Society, 67(2), 159-164.
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