Specifics of competition and development of competitiveness of hotel business enterprises in the international market

Issue: № 6/3, 2021

Doi: https://doi.org/10.37634/efp.2021.6(3).1

Introduction. Competition – the struggle of independent economic entities for limited economic resources. It is an economic process of interaction, interconnection and struggle between the speakers in the market enterprises in order to provide better sales opportunities for their products, meeting all the needs of customers. In the world market there is constant fierce competition from producers. Successful performance in foreign markets requires a significant increase in the competitiveness of domestic goods. The purpose of the paper is to improve the system of research of factors influencing the development of enterprise competitiveness, to define the concept of «competition in the international market», to consider the definition of competitive advantages in the hotel business and highlight their features, to substantiate the need for long-term study of competitiveness factors. Results. At import use of competition of foreign sellers allows to reach more favourable conditions of purchases. But the concept of competition is so ambiguous that it is not covered by any universal definition. This is a way of farming, and a way of capital existence, when one capital competes with another capital. In recent years, the hotel industry is characterized by an increase in supply while reducing demand for hotel services, which leads to significant competition in the market of hotel services. Competition in the market of hotel goods and services is based on the development of equipment and technology of hotel services, its organization, the feasibility of investment. According to foreign research today, the hotel industry has reached a high level of the international market with high growth and strong competition. The paper presents the results of studying the factors influencing the development of competitive advantages of the hotel business, highlights the key parameters that demonstrates the potential of identifying their competitiveness in the current economic situation. Conclusion. In the context of this paper, the results of studying the factors influencing the development of competitive advantages of hotel business enterprises were presented, the key parameters demonstrating the potential of identifying their competitiveness in the current economic situation were highlighted. Methods of improving the system of research of factors influencing the development of enterprise competitiveness were presented, the concept of «competition in the international market» was defined, the definition of competitive advantages of the enterprise in the hotel business was considered and their features were highlighted. Thus, competition is a business process of interaction, interconnection and confrontation between enterprises in the market in order to provide better sales opportunities, to meet all the needs of users. The advantages of competition are, on the one hand, the impact of production and market relations, and on the other – an increase in STP.

Keywords : competition, hotel business, competitiveness, innovative technologies, international market

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