The HUB Q&A: Navigating the Future of Hospitality Through Risk Management and Data Analytics

Labor shortages, sustainability and growing risks pose critical challenges to the hospitality industry’s long-term future. Kim Gore, North American Hospitality practice leader at HUB International, recently sat down with Sima Patel, co-founder and CFO of Jasmin Hospitality Management, and HUB Hospitality Risk Consultant Crystal Estrada to examine how risk management — particularly through data analytics — can help the hospitality industry address these challenges and maintain stability in an evolving industry.

Kim Gore: There have been huge changes in the hospitality industry. How can organizations use customer behavior and data to support growth and manage risk?

Sima Patel: We rely heavily on guest reviews and feedback in our business. Guests use mobile keys and go straight to their rooms without much interaction, so online reviews have become one of our main sources of insight. We also track incidents through HUB’s Risk360 to address issues. Guest satisfaction directly ties into risk management, so if we can identify problem areas early, we can prevent incidents from happening.

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Kim: From a risk management perspective, how do you see these trends shaping the future of the industry?

Crystal Estrada: Data plays a huge role in risk management, whether it's through guest reviews or incident reporting. Businesses need to have systems to track what's happening on their property. Also, you can streamline operations — and prevent accidents — when you have tools like QR codes to gather feedback or mobile portals to report issues

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Kim: Sima, tell us how cross-training is helping you manage labor shortages at Jasmin Hospitality.

Sima: Cross-training has been a lifesaver for us, because we can keep operations running smoothly even when we’re short-staffed. Cross-training reduces the impact of last-minute absences and gives employees new skills.

Crystal: And cross-training is a great way to mitigate risk. So, if a front-desk employee knows how to handle a kitchen issue, they’re more likely to recognize potential hazards in that area, which broadens the culture of safety.

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Kim: How do current sustainability trends affect guests and business operations?

Sima: Guests expect you to address sustainability — they’re looking for eco-friendly practices, whether that's reducing energy consumption or offering locally sourced food. We’ve seen an increase in guest satisfaction when we implement these initiatives, and they also help reduce long-term costs.

Crystal: Sustainability is also linked to risk management. Eco-friendly practices often overlap with maintaining a well-kept property, which is critical for both guest satisfaction and safety.

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Kim: How do you remain financially viable when you’re dealing with the higher costs associated with sustainability, technology and labor?

Sima: It all comes down to regular reviews and planning, like taking a detailed look at fixed and variable costs every month. Expenses like landscaping or food costs may seem set in stone, but you can always renegotiate vendor contracts or find savings elsewhere. I also use vendor data to track spending so we can make smarter purchasing decisions and reallocate funds strategically, such as for technology upgrades or employee training.

Kim: How does mitigating risk contribute to financial stability?

Crystal: Risk management directly affects the bottom line. When you address risks, whether it's by preventing accidents, reducing downtime or ensuring compliance with regulations, you’re protecting the business from costly incidents. Operational disruptions, legal issues or negative guest experiences all have financial implications. When you have systems that can help mitigate risk, you’re not only keeping people safe but also protecting profits.

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Ready to learn more? Watch our recent webinar, Thriving in Hospitality: Driving Innovation and Growth and contact a HUB expert for strategies to help overcome challenges through collaboration and commitment, minimizing risk and creating a thriving hospitality business and workplace.