Legacy Development & Management Suffers Ransomware Attack

Company Overview

Founded in 1978, Legacy Development & Management has grown into a multi-faceted company with investments in hotels, apartments, office, and retail properties. The company's core business is hospitality, and it is affiliated with renowned brands such as Hilton, Marriott, Hyatt, and IHG. Operating in multiple states and countries, Legacy Development & Management has become a dependable and reputable organization in the hospitality industry.

Vulnerabilities and Impact

Ransomware attacks on hospitality industry players often occur during holidays, as the disruption and revenue loss caused by these attacks put significant pressure on victims to pay large ransoms to recover their systems. In this case, the attack on Legacy Development & Management could have caused operational issues, data loss, and potential breaches, as ransomware not only encrypts files but also takes a copy of them for leverage in ransom negotiations.

Mitigation Strategies

To mitigate the impact of ransomware attacks, organizations should implement strong network segmentation and access controls, use preemptive protection solutions powered by threat intelligence, and train staff in identifying and reporting phishing attempts. Additionally, implementing Data Loss Prevention (DLP) controls can help ensure that data is not easily transferred to attackers.

The ransomware attack on Legacy Development & Management highlights the importance of robust cybersecurity measures in the hospitality sector. As the industry continues to be targeted by cybercriminals, companies must prioritize implementing strong security protocols to protect their systems and customer data.

Sources

• Legacy Development & Management: Our Company
• ABC News: Cybersecurity expert shares what guests, hotels should know in wake of Omni breach
• SC Media: Omni Hotels blames cyberattack for widespread tech outages
• Hotel-Cybersecurity.ch: Ransomware and hotels - Hotel cybersecurity training