risk report

Menzies Hotel Carrington street wynyard-Sydney NSW -2000

1. Executive Summary:
This report has designed a strategic risk management plan for Menzies hotel .The objective of the strategic risk management plan is to manage the Hotel risk swiftly and effectively to an interruption to normal business operations, protecting the associates and assets of the hotel, and ensuring the continuity of critical business functions. Enterprise risk management framework is used as a strategy to develop the plan for Hotel to deal with risk and opportunities by enterprise risk management process. Enterprise risk management process helps to ensure effective reporting and compliance with laws and regulations, and helps avoid damage to the business reputation and associated consequences. This report shows how enterprise risk management helps the Hotel to achieve its objectives and get to where it wants to go and avoid pitfalls and surprises along the way.

Table of contents:
S.N
CONTENTS
PAGE
1. introduction 3
2.
Methods of research
3
3.
Findings and analysis
4

A.Risk management plan
4

B.Monitoring arrangements for risk management plan
9

C.Legislation, codes of practice and national standards
11

D.Systems and practices to manage risk
12
4. recommendations 13
5.
conclusion
13
6. references 14

1. Introduction:
On 17th October, 1963 a milestone was achieved - the opening of Sydney's Menzies Hotel by Premier R.J. Heffron. The hotel was named after Sir Archibald Menzies, Australia's pioneer hotelier.
The Menzies was built at a cost of two and a half million pounds and contained 260 guest rooms and suites plus restaurants, lounges and cocktail bars. It was the first international hotel to be built in the city since the eve of World War II.An invitation to The Emperor Room on the hotel's first floor became the most sought after dinner date. 500 guests could be seated on tiered floors