The article is devoted to the analysis and assessment of changes and the state of development of the hotel business of Ukraine under the influence of crisis situations, in particular war. Considering these external conditions, the hotel business of our country received significant challenges and needs to function in new realities. Accordingly, the purpose of the article is to determine the main parameters of the development of the hotel business in Ukraine and to identify the directions of its transformation in the conditions of war. An analysis of the statistical data of the main indicators of the development of the hotel business, in particular, which characterize its several scales in general and by region of Ukraine, was carried out. The database of the national portal YouControl has determined the TOP-25 subjects of the hotel business of Ukraine by the volume of service provision – net income. These leading hotels represent five regions of Ukraine: the city of Kyiv, Lviv, Ivano-Frankivsk, Zakarpattia, Kyiv region. The situation of a full-scale invasion had a very negative effect on the state of the hotel business, both on the volume of activity and on the destruction of entities. The amount of destruction of Ukrainian tourism facilities, in particular the hotel business, under the influence of the full-scale invasion of the Russian Federation into Ukraine was considered. An analysis of the dynamics of the taxes of tourism entities was carried out, in the structure of which hotel business entities paid 80.5% in 2023. The main operating indicators, which reflect the efficiency of the hotel business entity and are its KPIs, were studied – these are ADR, RevPar, Occupancy. Research was conducted on the identified KPIs of hotel business entities in the main destinations of Ukraine: Kyiv, Lviv, Odesa and Bukovel. The main transformations of the hotel business of Ukraine during the war were determined: 1) repurposing and adaptation of services; 2) decrease in the number of tourists and business trips; 3) financial challenges and cost optimization; 4) introduction of new technologies; 5) strengthening of security measures; 6) support of local communities; 7) change in price policy. These transformations reflect the adaptation of the hotel business of Ukraine to the difficult conditions of war, aimed at the survival and support of both its customers and the larger community. It is proposed to use innovative tools, in particular digitalization, to overcome negative consequences.