The purpose of this work is to research risks impact on the commercial activity of the accommodation and food services sector’s enterprises. The authors have created the accommodation (hotel) and food services technological process flow map and classification of technological process risks. The authors have carried out a survey of the most important risks’ factors in the stages of the technological process. The authors have created classification of Latvian accommodation and food services sector’s economic and financial risks in the period from year 2012 till year 2013. The risks matrixes are used as risks assessment tools. Risks are arranged by the size of potential losses. The risks assessments by using the special coefficient method are made in the period from year 2009 till year 2012. The authors have used their own created model of enterprises’ risks identification, classification and assessment that to research risks impact on Latvian accommodation and food services sector enterprises’ development.