Our paper focuses on the analysis of the the role of risk management in sustainable hotel chain policy. We tackle the issue of risk evaluation and prevention in hotel industry as a factor of enhancing its entrepreneurial value. Our empirical value-added is based on its own novel survey based on a case study of a chosen company. We evaluate the problem areas of risk management and make suggestions for the hotel optimization procedures based on our results and findings. Furthremore, we compare the outcomes of our research with those of the the studies conducted by the renown foreign companies and focusing on payment discipline and risk management. Our results demonstrate that in order to optimize the cash flow in hotel operations, it is advisable to provide a balanced business mix and improvement of strategic internal processes. Moreover, it appears that for the optimal application of the risk management it is important that a new or updated strategic analysis is conducted annually within the business entity according to the development of both the external and internal environment. Furthremore, financial and payment risks need to be integrated into the formulation of strategic goals so as to identify which of them can put the strategy and its strategic goals at stake.

Our paper aims at scrutinizing and evaluating the impacts of COVID-19 pandemic on international and domestic tourism in the Czech Republic. Our methodology includes the analysis of empirical and statistical data provided by the statistical agencies that stems from the systematic and holistic literature review. The empirical research includes analysis and comparison of time series of economic indicators. The paper evaluates two groups of statistical indicators. The first group consists of domestic and inbound tourism in the Czech Republic. The second area of research is the analysis of the hotel sector in the Prague region. The analysis of the hotel industry focuses on the development of the following internationally used economic indicators: average daily rate, occupancy, and revenue per available room. Our results reveal that there were significant effects of the coronavirus pandemic both on the inbound and the domestic tourism which brought about a plethora of social and economic implications such as the decrease in the average occupancy of hotel rooms or the revenues for the tourism and hospitality sector. As a result of the pandemic, the tourism structure in the Czech Republic has changed significantly with the institutions of tourism undegoing serious transformational and structural changes that might take lots of time to revert and to mitigate by the relevant tourism authorities, stakeholders, and policymakers.