Strategies for Innovative Development of Hotel and Restaurant Enterprises in Ukraine

Abstract

Purpose: The goal is to find and implement innovative strategies for the development of hotel and restaurant enterprises in Ukraine. Design / Methodology / Approach: Analysis, synthesis and comparison. Findings: In modern conditions, hotel and restaurant management is an integral part of the hospitality industry. Today, this is a whole complex that determines the overall prospects for the development of all industries. In order to effectively and successfully solve a complex of tasks related to increasing competitiveness in the market, it is necessary to implement innovative strategies in the hotel and restaurant industry. An analysis of the trends in the development of the hospitality industry shows that companies that implement innovative methods and strategies in their activities are getting more and more growth. Taking into account the significant impact of innovative economic growth and prospective development of hospitality industry enterprises in modern conditions, it is appropriate to define innovative strategies as those that offer potential opportunities for increasing economic efficiency. Originality / Value: Researching innovative strategies in the hotel and restaurant industry of Ukraine, it is worth noting the high level of competition in the hospitality industry. This stimulates the search for new ways and elements of effective functioning. One of the main trends in this field is the development and application of various innovations that can be a powerful impetus for development in the hospitality industry. Innovative technologies are necessary for the viability and competitiveness of hotel and restaurant enterprises. In the process of introducing innovations at enterprises, changes occur that practically affect all aspects of their activities. Practical Meaning: The feasibility of implementing innovative strategies in the hotel and restaurant industry of Ukraine has been proven; the practical significance is the strengthening of the application of innovative strategies in practice. Further Research: Substantiating the application of innovative strategies in the hotel and restaurant industry of Ukraine.