CONCEPTUAL PRINCIPLES OF FORMING A MECHANISM FOR CAPITAL CONSOLIDATION OF HOSPITALITY INDUSTRY ENTERPRISES AND TOOLS FOR ITS IMPLEMENTATION
Abstract
The article substantiates the conceptual principles of the formation of a mechanism for consolidating capital of hospitality industry enterprises and identifies the tools for its implementation. The conceptual and categorical apparatus of the study is improved by clarifying the essence of the concept of "mechanism for consolidating capital of hospitality industry enterprises" which, unlike existing approaches, is considered as a process of combining capital of enterprises of the hotel and related industries, in various forms, in order to increase the efficiency of activities, strengthen the competitive advantages of the newly created enterprise in the market, enter new markets (outside the country) and maximize profits. The constituent elements of the capital consolidation mechanism are analyzed, taking into account industry specifics. It is shown that capital consolidation can lead to an increase in the efficiency of enterprises and the formation of new sustainable competitive advantages. The competitive advantages of hospitality industry enterprises from capital consolidation are outlined. The algorithm of actions and criteria for evaluating the capital consolidation mechanism are determined. The essence of the synergy effect in capital consolidation in the hotel business is revealed. The tools for implementing the consolidation of capital of hospitality industry enterprises and possible risks are indicated. The control system and regulatory mechanism of capital consolidation are shown, which is a set of legal norms, industry standards that regulate the process of combining the capital of enterprises and ensure its legality and minimization of risks, taking into account the peculiarities of the activities of hospitality industry enterprises. It is noted that when consolidating the capital of enterprises in the hotel industry, the specifics of their activities are taken into account. These specifics are manifested in a high dependence of the enterprises' profits on the quality of hotel services, the seasonality of demand, and the standardization of services.
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