Risks assessment of accommodation and food services sector: the case of Latvia

Abstract

The purpose of this work is to study assessment of risks in accommodation and food services sector on a sample of Latvia. The authors have created the accommodation (hotel) and food services technological process flow map and have carried out a survey of the most important risk factors in the stages of the technological process. The authors have created the algorithm of identification, classification and assessment of enterprises’ risks in the accommodation (hotel) and food services sector. The risks assessment by using the special coefficient method demonstrates that Latvia’s accommodation and food services sector risks dynamic increased in the period from 2006 to 2009. The authors have offered rating of external and internal risks by their affect on the development of enterprises.