Why are hoteliers so afraid of failure? And what does risk really mean in hospitality today?

In this bite-size episode of Hospitality Huddles, Scot Turner and Bal Mahey explore why risk aversion can hold hospitality back — and why measured risks, experimentation, and even failure are essential for progress.

Expect insights on:
- Why psychological fear stops leaders from trying new ideas
- How to define “measured risk” in hotel F&B and operations
- The danger of holding onto failing concepts for too long
- Why investing properly at the start matters for success
- The balance between giving projects enough time and knowing when to walk away
Chapters:
00:00 – Why are we scared of failure?
01:48 – Measured risks in hotels and F&B
02:39 – The psychology of fear and trying new things
03:33 – Taking risks at Auden: lessons learned
04:41 – Defining failure upfront and setting cut-off points
06:39 – Why you still need to invest properly to give ideas a chance
09:15 – The Mark Hotel hot dog stand: a case study in doing it right
10:04 – Trinity Outside: patience and persistence in risk-taking
11:35 – Key takeaways on risk and failure
13:20 – Balancing time, instinct, and experience
13:58 – Final reflections: don’t be scared, just try