MANAGEMENT OF INTELLECTUAL CAPITAL AS AN INGREDIENT OF INTANGIBLE ASSETS IN HOTEL INDUSTRY

Abstract

In the period of accelerated development of the knowledge-based economy, intangible assets are increasingly viewed as a critical element of the growth of almost any existing business sphere. Despite the fact that intangible assets cannot be seen or touched, they nonetheless have value and are critical to a company’s success and growth. Intangibles as a whole and intellectual capital in particular can also add to the value of a company’s equity. As a result, intangible asset maintenance and management might be the difference between success and failure. Hence, identifying and developing a solid strategy to generate intangible assets and reduce risks is crucial. The paper provides an observational study of the hotel industry’s development alongside with the analysis of the difficulties in intangible asset management and intellectual capital in this sphere. Based on past internship experience as a hotel administrator, the thesis paper explores the value and importance of intangible assets in the industry.