Abstract

In a continuous changing world, where the innovation is highly demanded for companies to remain powerful
players in the global game of competition, risk management attracts more attention and higher interest. The
establishment of new processes in the hotels’ operation enhances the concept of uncertainty that risk is related
to, and the implementation of a risk management plan, is considered extremely important for the prevention of
any unexpected worrying results (Wut et.al, 2021). It is globally accepted, that tourism industry is vulnerable in
risks, as it is a combination of several factors that affect its efficient operation. Focus on the hotels, which are key
components in touristic activities, they have to deal with several aspects to win their competitive advantage in the
market (Alzoubi & Jaaffar, 2020). Their success is related to innovative processes and consequently to the risks that
might occur after their application in a hotel’s day-to-day operation.
In the context of hospitality, employees have a vital role in the daily efficient operation of a hotel and the concept
of teamwork impacts their performance (Phuong & Huy, 2022). The highly engaged employees, increase job
satisfaction, provide effective customer service and produce better hotel outcomes (Rabiul et.al, 2023). Essential
element for a pleasant working environment that is attractive and enhances a hotel’s competitive advantage is the
management team and specifically the person whose role is the leader of that team – the hotel manager. A hotel
manager is the motivator of creativity and team spirit, and it is the main decision maker that is based not only on
technical but also effective social skills and knowledge (Ushakov et.al, 2020) (Kainthola, 2021). As the indicators of
new processes in a hotel’s operation, the most valuable point is their effort for personal growth and up-to-date
information. Their self-improvement will enhance the “out of the box” way of thinking and it will point out the
importance of continuous staff training regarding not only the daily hotel procedures but also the need for
potential risks’ evaluation and assessments procedures (Olimovich et.al, 2020).
Nowadays and through the use of technology, the continuous self- update regarding the new trends in the market,
is considered as an easily achievable target. The development of several means of technology allow hotel managers
to follow the movements in the tourism market, apply changes in their hotels and explore the beauty of innovative
procedures that can bring higher profit in their businesses. The several hotel review platforms and the opportunity
that tourists have to expressfreely their opinions and the advantage they have to choose their future holiday based
on a range of available prices, creates a new perspective for the hotel competition as well as, it draws a new era
for the hospitality industry in general (Pappas, 2015). What it should be taken into consideration is that continuous
technological achievements mean more innovative ideas and consequently more potential risks.
The aim of this study is to investigate hotel managers’ knowledge regarding risk management and to highlight the
importance of creation of risk management action plans, related to the implementation of new services. As the
touristic activity of the island of Crete, contributes to a high percentage to the national GDP of the country, this
research was conducted among the four regions of the island, and it is based on qualitative data collection through
individual interviews with 35 hotel managers. All participants had to respond to 22 open questions regarding
teamwork, competency, competition, personal development and risk management. The interview were conducted
in person and the duration of each one was about 25 – 30 minutes. The findings positively indicates a strong
connection between teamwork and efficient hotel operation. Additionally, it is highlighted the necessity of
innovation for the hotels’ improvement, and it points out the impact of technology on the market competition.
From the other point of view, the results show limited awareness of risk management and the necessity for the
creation of a risk management plan that could be applied when an innovative idea takes place