Economics and Business Management

Hotel and restaurant business under war сonditions: Key challenges and survival strategies

I. Levytska, A. Klymchuk
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Abstract

The full-scale military aggression against Ukraine has formed a completely new socio-economic reality of the functioning of all the sectors of the national economy. The new operating conditions have become a significant challenge for the hotel and restaurant business as well: some business entities were forced to completely stop their activity or repurpose it. Considering that, the issues of forming key strategic orientations and approaches in the hotel and restaurant business with the aim of preserving it and forming the potential of post-war development are gaining special relevance today. The purpose of the research is to characterize the key challenges of the hotel and restaurant business in wartime and to substantiate possible strategies for their survival. Methods. The study analyzes the activities of business entities in the hospitality industry, based on the data of the official statistics and the results of surveys by international analytical companies. An adapted method of ABC analysis is applied in order to rank the challenges of the hospitality industry under martial law conditions. The findings of the research. An analysis of the main indicators of the hospitality industry in Ukraine until 2022 is carried out. The composition and structure of the key challenges to the functioning of business in the conditions of martial law are studied. The identified factors are ranked and classified into three groups: general, specialized, and individual importance. The specific challenges of the hospitality industry under martial law are outlined and possible strategies for overcoming them are defined

Keywords

hotel and restaurant business; hospitality industry; martial law; survival strategies; challenges

Suggested citation
Levytska, I., & Klymchuk, А. (2022). Hotel and restaurant business under war сonditions: Key challenges and survival strategies. Economics and Business Management, 13(4), 5-13. https://doi.org/10.31548/economics13(4).2022.5-13
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