Economics and Business Management

Hotel business in the context of global trends

Oksana Morhulets, D. Hryhorchuk, O. Nyshenko
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Abstract

The hotel business plays an important role in the development of the country’s economy, as it provides jobs, stimulates tourism, and promotes cultural exchange. In the context of global change, in particular post-Soviet reconstruction and military aggression, its importance is only growing. The relevance of the study of the state and prospects of development of the hotel business is conditioned by significant changes taking place in this area and the need to adapt to new realities. In 2024, there was an active introduction of digital technologies and sustainable practices at the international level, while in Ukraine the hotel industry faced unique difficulties related to the security situation. Comparing the International and Ukrainian hotel services markets helps to identify key trends and challenges and develop recommendations for the development of the industry. The purpose of the study was to analyse the impact of global events on the global hotel industry, identify the main trends and problems, and suggest ways to improve the situation in the Ukrainian hotel sector. Research methods included analysis of statistical data, a systematic approach, case-study, comparison of international and national indicators and practices, generalisation, abstract and logical method, and synthesis. The results of the study showed that despite the positive dynamics of the international hotel business, the Ukrainian hotel industry is experiencing significant difficulties due to the war in the country. Against the background of negative trends, the success of the international hotel business is conditioned by the availability of government programmes, support for business development, investment in new technologies and innovations. To restore and develop the Ukrainian hotel business, it was important to introduce positive foreign practices, in particular sustainable development, and adapt them to the realities of the modern Ukrainian market. The practical value of the study was to provide recommendations for improving the situation of the Ukrainian hospitality industry in the market, adapting to new conditions and using international experience for the development of the hotel business

Keywords

hospitality industry; international service market; crisis; adaptation; sustainable development

Suggested citation
Morhulets, O., Hryhorchuk, D., & Nyshenko, O. (2024). Hotel business in the context of global trends. Economics and Business Management, 15(3), 72-86. https://doi.org/10.31548/economics/3.2024.72
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