CRISIS MANAGEMENT STRATEGIES FOR THE HOTEL BUSINESS IN CONDITIONS OF MARKET TURBULENCE AND UNCERTAINTY
Abstract
The hotel business is one of the most vulnerable sectors of the economy, as its operations directly depend on macroeconomic stability, tourist demand, and global crises. Between 2022 and 2025, the hospitality industry faced significant challenges related to the COVID-19 pandemic, military conflicts in Ukraine, changes in consumer preferences, and digital transformation. Under these circumstances, effective crisis management has become a key factor determining the ability of hotel enterprises to adapt to a changing environment, minimize losses, and maintain competitiveness.
This article examines crisis management strategies in the hotel industry under market turbulence and uncertainty. It analyzes the main factors influencing the operation of the hotel sector during crises, including economic and social risks, shifts in tourist flows, rising operational costs, the need for innovative technologies, and changes in business models. The study assesses the effectiveness of management decisions to ensure enterprises' sustainable development in challenging economic conditions.
The research identifies key approaches to crisis management, including the development of adaptive pricing strategies, service diversification, integration of digital technologies, improvement of personalized customer service, cost optimization, and alternative channels for hotel service distribution. Particular attention is paid to mechanisms for business process digitalization, customer service automation, the implementation of loyalty programs, and marketing management tools to increase room occupancy rates.
The findings indicate that effective crisis management requires a comprehensive approach that includes short-term liquidity support measures and long-term strategic decisions to build a flexible business model, adapt to changing market conditions, and create new growth opportunities. Hotel industry enterprises and government agencies can use the scientific and practical recommendations presented in the article to develop effective policies to support the hospitality sector during crises.
The results obtained can be valuable for practical application by hotel enterprise managers, market analysts, and researchers focusing on sustainable tourism and hospitality industry development. Future studies may focus on evaluating the effectiveness of implemented strategies in different hotel business segments, developing innovative business models to enhance profitability and resilience, and exploring opportunities for international cooperation to overcome the consequences of global crises.
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