ANALYSIS AND DYNAMICS OF THE HOTEL AND RESTAURANT BUSINESS DEVELOPMENT

Abstract

The article highlights the issue of development dynamics of the hotel and restaurant business in the Volyn region. The purpose of the study is to reveal the hotel-restaurant enterprises' development rating in the Volyn region. The research focuses on the analysis of temporary accommodation of catering enterprises, the number of employed workers, and the products (goods, services) supplied or provided by them. The analysis mainly concerns the number of business entities by type of economic activity from 2017 to 2021. The data obtained in the studied period demonstrate the preservation of stable indicators and testify to the business entities’ economic activity in the region. The analysis of the number of employees in the field of the tourism and hospitality sector shows that it has been significantly affected by the restrictions of the COVID-19 pandemic and the reduction in tourism demand. This led to layoffs and the employees’ search for more favorable working conditions. The study provides an analysis of the number of employees of business entities by type of economic activity, in particular, temporary food service establishments and their accommodation. The war led to negative consequences and changes in the service sector of the region. Naturally, it affected the number of employees in the sphere due to a decrease in the tourist flow and the closing of hotels and restaurants. The volume of products and service provisions of hotel and restaurant enterprises is also the subject of the research analysis. This helps to determine the dynamics of this sphere development, the impact of external factors (for example, tourist demand, economic conditions, quarantine restrictions, war, etc.) on the industry, and serves as a basis for identifying both the stability and changes in the economic activity of economic entities in this sector. The research findings indicate that the hotel and restaurant market developed most intensively in 2021. The lowest indicators were observed in 2017. Currently, the hotel and restaurant industry of the Volyn region has not experienced a significant decline. Moreover, in the crisis period for Ukraine in 2020-2021, the indicators continued to grow.