Risk disclosures and hotel types: An exploratory study

Abstract

The study explores risk and risk management practices in five star hotels in Goa, India. Aiming at risk analyses and classification, paper attempts to cognize risks and risk management disclosures across types of hotels based on cultural theory of risk. Qualitative methodology is used with semi structured questionnaire for primary data collection and content analysis of annual reports. Paper identifies risk and risk management practices across hotel types. External risks score over internal, maximum disclosures being in commercial/finance and strategic area. International hotels disclose more risks than local and national hotels. Risk Framework, specific to hotel industry is enriched. The findings also indicate the applicability of Cultural theory to the organizational structures of hotels. The findings provide orientation for further research in the area of discerning the relationship between the hotel categorization as indicated by Cultural theory and their risk perceptions.