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For many hotels and lodging companies, staying relevant means adding amenities beyond exercise rooms, pools, and restaurants. (Photo: Provided by Liberty Mutual Insurance)

The rapid advance of technology, changing guest habits, and trends like the sharing economy are driving major changes in the hospitality industry. The impact? Hospitality companies must adapt by thinking outside traditional business practices and models. In turn, new risks must be considered as these companies evolve their operations in an effort to attract and retain customers. 

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