STRATEGIC POTENTIAL OF THE HOTEL AND RESTAURANT BUSINESS IN UKRAINE IN TIMES OF UNCERTAINTY AND RAPID CHANGES
Abstract
The article aims to develop strategic directions for realizing the strategic potential of the hotel and restaurant business in Ukraine and to propose elements of a strategic roadmap for the development of the hotel and restaurant business in Ukraine. It is established that the strategic potential of the hotel and restaurant business can be defined as a set of internal resources and business opportunities that give it an advantage over competitors. The war in Ukraine has led to significant changes in the activities of the hotel and restaurant business: changes in demand for hotel and tourism services and prices, changes in consumer values, changes to formats that are accessible and convenient for consumers, changes in technology and regulation, and globalization changes. Strategic directions for realizing the strategic potential of the hotel and restaurant business in Ukraine, taking into account threats and opportunities, have been provided. Examples of adaptation to the conditions of war in the hotel and restaurant business of Ukraine are presented. The elements of a strategic roadmap for the development of the hotel and restaurant business in Ukraine have been proposed. A strategic roadmap for the development of the hotel and restaurant business in Ukraine in times of uncertainty and rapid change should focus on the following elements: protection measures, strengthening security protocols, local market orientation, cost control and efficiency, community involvement and support, digital innovation, staff support and training, strategic partnership and cooperation, flexibility in business operations, communication and transparency, monitoring and adaptation. An important element is flexibility in business operations, which involves the development of a flexible policy for the provision of hotel and tourism services (including offering a flexible cancellation policy and changing booking conditions to take into account uncertainty and reduce customer anxiety), the development of adaptive strategies based on the flexibility to adjust hotel and tourism services, offers and opening hours by the constantly changing situation.
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