IMPROVEMENT OF THE PRICE POLICY AT HOTEL AND RESTAURANT BUSINESS ENTERPRISES

Abstract

The article examines the essence of price policy and the process of its formation in hotels and restaurants. The main factors influencing the price policy of institutions are characterized. A comprehensive system of information support for pricing is proposed. It has been proven that the active implementation of modern information technologies in the activities of hotel and restaurant business enterprises is a necessary condition for their successful work, since accuracy, reliability, promptness and high speed of information processing and transmission determine the effectiveness of management. In the field of restaurant business, the use of information infrastructure is a necessary condition for the successful promotion of the product on the national and international market of services. The justification of the effectiveness of the proposed measures was carried out. The effectiveness of the proposed measures was assessed using the standard probability distribution method. At the same time, three development scenarios are taken into account: pessimistic, most likely and optimistic. For each of them, the proposed measures will provide the hotel and restaurant business with an increase in profit. Formation of the price policy of a hotel and restaurant business is one of the most important tasks of top management. The conducted analysis made it possible to generalize the process of price policy formation, which consists of 8 interrelated stages. The main one is the analysis of the state of the external and internal environment of the hotel and restaurant business. The information obtained at this stage will allow top management to make effective decisions regarding pricing policy formation. The price policy of a hotel and restaurant business establishment should be flexible, which provides for its prompt adjustment as a result of its inefficiency and changes in the operating environment. The basis of the hotel and restaurant complex's success is the use of a demand-oriented pricing strategy. In the next subsection of the qualification work, it is advisable to justify the effectiveness of the proposed measures.