Determinants of sustainable development of the North-West region

Abstract

One of the most important factors of sustainable development of the regions of the Russian Federation in modern conditions is the balanced development of all industries. Tourism and hotel business are among the most dynamically developing industries in the North-Western region of Russia. The high level of competition, as well as the intensive growth of the market in the hospitality sector, requires new solutions from representatives of this business to increase competitiveness. The purpose of the study is to assess the level of balanced development of hotel business enterprises on the example of four-star hotels in St. Petersburg, which is one of the important factors in ensuring the sustainable development of the region. The article proposes a methodology for assessing the competitiveness of four-star hotel enterprises. The article uses comparison methods, graphical methods, and the method of analysis. As a result of the study, the factors of sustainable development of the hospitality industry were identified, the competitiveness index of these enterprises was proposed and calculated, which can be used in the future to develop measures to ensure the sustainable development of the region.