Abstract

Introduction. Transformational processes at the current stage in the economy of countries make it necessary for enterprises to pay attention to competitiveness, which determines their viability and performance. The sphere of the hotel and restaurant business is dynamic and promising and can act as a multiplier of socio-economic development. Therefore, enterprises in the field of hotel and restaurant business must ensure their competitive stability and be competitive in the service market. The purpose of the publication is to analyze research trends in the development of the hotel and restaurant business evaluate and identify ways to increase the competitiveness of enterprises in the hotel and restaurant business. The results. The article examines issues related to the features, development trends, and functions of the hotel and restaurant business. It defines the essence of the concept of the hotel and restaurant business enterprise. An assessment of the activities of economic entities by the type of economic activity, "Temporary accommodation and organization of meals," was carried out for 2015–2021. The dynamics of the financial result (balance) before taxation of entities belonging to the sphere of hotel and restaurant business was determined and the dynamics of net profit was considered (loss) of enterprises in the field of temporary accommodation and catering. The level of profitability (unprofitability) of the operational activities of enterprises and the level of profitability (unprofitability) of all activities for the sphere of hotel and restaurant business were studied. The essence of the concept of enterprise competitiveness is substantiated. The methods used in assessing the competitiveness of enterprises are studied. An algorithm was developed to manage the competitiveness of enterprises in the hotel and restaurant business, which includes a collection of initial information, analysis and purpose, planning and organization of activities, and monitoring and control of activity results. Conclusions. For the sphere of hotel and restaurant business, it is necessary to maintain competitive stability, balancing between risks, upheavals in the service market, and one's resource capabilities. Subjects of entrepreneurial activity in the field of hotel and restaurant business need to focus their activities on constant development and improvement.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.