EXPERIENCE OF DEVELOPED COUNTRIES IN IMPLEMENTING INNOVATIVE APPROACHES IN THE HOTEL AND RESTAURANT BUSINESS

Keywords: innovative approaches, international experience, experience of EU countries, territorial communities, competitiveness

Abstract

The article is devoted to the study of the development of innovative approaches in the hotel and restaurant business and the identification of the main vectors of innovation in the industry to optimize the efficiency of the enterprise. The article examines the impact of modern innovative technologies on improving the quality of organization and service. The features of implementation of digital potential in the hotel and restaurant industry in conditions of instability and increased risk are analyzed. One of the priority tasks of managing service enterprises at the present stage is to ensure their sustainable development through the implementation of an effective management strategy. Promising directions of development of the industry in the innovative direction, focused on increasing demand, minimizing costs, developing and implementing new products and services, changing the organizational structure of the company, as well as the latest methods of promotion and sales of products, are allocated. It is proved that the implementation of innovative approaches in the hotel and restaurant business intensifies the productivity of the company, which allows to increase the profitability of sales, expand the boundaries of the sales market and increase the profitability indicator. It is established that the innovative way of development of companies in the hotel and restaurant business with the introduction of innovative technologies for service or production of products that best meet the current requirements of the consumer provides a competitive advantage in a particular market segment. It is proved that the stable innovative development of hotel and restaurant business entities in Ukraine should be positioned as one of the priority areas of the State's activities during the post-war recovery period, in order to ensure consistently high competitiveness at the global level. The vector of the positive impact of innovative approaches in the studied sphere on the economy of the state as a whole is identified, through practical GDP growth by increasing the competitiveness of hotel and restaurant business enterprises.

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Published
2024-05-27
How to Cite
Albeshchenko, O., Rogova, N., & Onishchenko , O. (2024). EXPERIENCE OF DEVELOPED COUNTRIES IN IMPLEMENTING INNOVATIVE APPROACHES IN THE HOTEL AND RESTAURANT BUSINESS. Economy and Society, (63). https://doi.org/10.32782/2524-0072/2024-63-1
Section
HOTEL AND RESTAURANT BUSINESS