Budget hotels are one of the hotels that attract special interest from tourists with a limited budget. So it is important to identify operational risks in the internal context of Ustay hotel Tebet which currently still exists with the Budget Hotel brand. Through the identification of operational risks, it can be used to analyze risk impact groups based on the urgency of the risks arising in the operations at UStay Hotel Tebet. The type of qualitative research that will be used uses a triangulation approach. Conclusion in this study The risk groups found in UStay Hotel Tebet have six factors, namely Human Resources, Systems, Finance, Internal Processes, Policies, Facilities and Infrastructure. In identifying risks in hotel operations, it was found that the most emerging risks were in financial factors, followed by facilities and infrastructure as well as human resources. With the identification of risks, it is followed by risk analysis. In the risk analysis, it was found that most of the risk variables that arise appear in quadrant A, so there is a need for improvements for management to accommodate operations to run smoothly