Economic efficiency of management in hotel and restaurant businesses in the conditions of market competition
Economic efficiency of management in hotel and restaurant businesses in the conditions of market competition
Немає доступних мініатюр
Дата
2025-04
Автори
Тимчук Світлана Володимирівна
Назва журналу
ISSN журналу
Назва тома
Видавець
Baltija Publishing
Анотація
The study on economic efficiency in hotel and restaurant management
highlights the key features of the HoReCa sector in today’s competitive
environment. It reveals that successful enterprises are those that adapt quickly
to market changes, implement innovative technologies, optimize costs, and
maintain high service quality. Key economic indicators such as profitability,
labor productivity, capital turnover, and cost levels were analyzed.
The research emphasizes the importance of strategic planning, marketing
analysis, human resource development, and financial management. It also
highlights the role of digital tools, automation systems, and big data in
improving decision-making. A comprehensive approach to managing economic
efficiency helps businesses remain competitive and achieve stable growth.
The study concludes that flexibility and innovation are essential for success.
These factors support the development of sustainable competitive advantages
in both local and international markets.
Опис
The comprehensive analysis of the current state of the HoReCa sector has
revealed key challenges and identified promising directions for improving the
management systems of enterprises in this industry. The relevance of the
selected topic is driven by dynamic transformations in the service sector,
changes in consumer behavior patterns, increasing competition, and the
influence of digitalization on traditional business models.
Particular attention was given to a practice-oriented approach to performance
evaluation, which involves the integration of both financial and non-financial
indicators, taking into account the operational, marketing, and digital
components of enterprise activity. This approach allows for more accurate
measurement of the effectiveness of managerial decisions by considering not
only profitability but also customer satisfaction, service quality, the level of
innovation, and adaptability to external changes.
The results of the analytical research on the economic activities of hotel and
restaurant enterprises demonstrate a strong dependence of efficiency on
regional and seasonal factors, the level of process automation, personnel
qualifications, customer orientation, and the presence of a flexible cost
management system. Market competition conditions require enterprises to
respond promptly to shifts in demand, price fluctuations, logistical changes,
and the evolving marketing environment. Successful businesses show a
tendency to adopt innovations, apply data-driven decision-making, personalize
services, and diversify customer interaction channels.
Thus, enhancing the economic efficiency of management in hotel and
restaurant enterprises under competitive market conditions requires a holistic,
integrated, and flexible approach that combines strategic thinking, the use of
modern technologies, and a strong focus on customer needs.
Ключові слова
Бібліографічний опис
Tymchuk S.V. Economic efficiency of management in hotel and restaurant businesses in the conditions of market competition. Economy, entrepreneurship and business culture: transformations in the context of global instability : Collective monograph. Riga, Latvia: Baltija Publishing, 2025. P. 538-559 https://doi.org/10.30525/978-9934-26-565-5-24