TRENDS IN REVENUE MANAGEMENT OF INTERNATIONAL HOTEL OPERATORS
Abstract
The article studies the issues of application of the tool of revenue management and strategies for different segments of the hotel services market of international hotel operators. The need to study the factors and prerequisites for influencing demand has been identified. The main problem faced by hotel operators when using the revenue management in an unstable external environment is that it is necessary to take into account changes in the consumer characteristics of services and adapt their activities to new consumer needs. Methods of revenue management within the business processes are increasingly used in hotels of international hotel chains, including those with transformational changes, which is an integral part of effective management. As a conclusion, it is stated that modern trends and innovations, as well as their features that are developing in business processes, technological progress, digitalisation in the hotel business require the use of new revenue management strategies. Crisis phenomena such as the pandemic, economic and political instability, and military actions have a negative impact on most sectors of the service sector, including airlines, hotel business and tourism. The hotel industry in Ukraine is increasingly integrating into the international economic space, which, on the one hand, leads to an increase in the volume of services and supply in the market, and on the other hand, may lead to the acquisition of national hotel companies by international chains. The positive dynamics of recovery of the key performance indicators of the revenue management in the face of crisis and uncertainty, as well as intensive integration processes taking place in the global hotel services market since the 1980s, indicate, on the one hand, a high level of economic attractiveness of the hospitality sector, and, on the other hand, the growing competition and the need to ensure sustainable development and strong competitive positions for market players. Revenue management is used mainly in hotels of international hotel chains, including those with transformational changes, which is an integral part of effective management. These changes make it possible to substantiate the feasibility of introducing the concept of crisis revenue management into the activities of hotel enterprises.
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