Abstract:
The study explores risk and risk management practices in five star hotels in Goa. Aiming at risk analysis and classification, this paper attempts to cognise risks and risk management disclosures across types of hotels based on cultural theory of risk. Qualitative methodology is used with a semi structured questionnaire for primary data collection and content analysis of annual reports. This paper identifies that risk and risk management practices differ 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. Inferential content analysis showed that ISO 31000 and strategic intent disclosures; general and specific disclosures differ across hotel types. Risk framework specific to hotel industry is enriched. The comprehensive risk framework proposed herein provides an orientation for managerial practice. It highlights finding specific to primary disclosures and inferential content analysis.
