3.4. RISK MANAGEMENT
3.4.1. SECURITY AND RISK MANAGEMENT STRATEGY
The Group is exposed to various risks which could impact its
customers, employees, assets and brands and could have an
adverse effect on its ability to achieve its objectives.
Accor’s security and risk management strategy is underpinned
by a structured process for identifying, analyzing and assessing
risks and implementing risk prevention action plans adapted to
the identified risks.
The strategy deployed by the Safety & Security and risk management
and insurance Departments is backed by a global network of
correspondents, close working relationships with local authorities
and the expertise of specialists.
Identifying, analyzing and assessing risks
The Risk Management and Insurance Department has put in place
a risk identification process covering every host country and the
corporate head office, with the overall aim of ensuring that identified
risks are properly taken into account and effectively addressed.
In addition, the Group has set up a new Central Risk Management
and Coordination Committee which has an extended remit compared
with the previous Committee and is now tasked with monitoring
the risk mapping process and verifying that prevention plans drawn
up for priority risks are effectively implemented.
Risk prevention and protection
As part of their audit assignments within the Group’s units, the
internal auditors verify that the risk management plans are being
properly implemented and that the main identified risks are being
In addition, as described in section 3.4.4 below, the Group works
on an ongoing basis with its insurers and their loss prevention
engineers on reducing its fire risk, by performing audits and carefully
assessing the audit findings.
The Safety & Security Department tracks the safety and security
situation in each of the Group’s host countries on a daily basis,
reviewing the geopolitical context and public health and hygiene
conditions, as well as risks relating to extreme weather events and
social unrest. It is assisted in this work by a network of locally-based
Lastly, when large-scale events are held – such as the Winter
Olympics and the FIFA World Cup in 2014 – the Group puts in
place specific preparation and risk monitoring processes, working
in conjunction with the event’s organizers and the local authorities
in the countries concerned.
The Group has a crisis management process that is specifically
adapted to its organizational structure and enables its teams to
effectively handle crisis situations. This process includes ensuring
proper communication between the hotels, local head offices and
senior management, and dedicated crisis units can be mobilized
where required. In 2014, the Group was particularly vigilant in relation
to terrorist threats and the spread of the Ebola virus.
Business Continuity and Recovery Plans
Business Continuity and Recovery Plans are drawn up for risks
that, if they were to occur, could make it difficult or impossible to
carry out the Group’s day-to-day business.
After the risk identification and analysis process, the Group selects
a coverage method that is most suited to the identified risks based
on their level and severity, notably taking advantage of opportunities
offered in the insurance and reinsurance markets both in France
and abroad, as described in section 3.4.4 below.
Registration Document 2014