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Title |
Financial Strategies for Managing Hotel Business in the Context of Digitalization |
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Author |
Sayyora Rikhsibaevna Safaeva, Dildora Alexandrovna Ishankhodjaeva, Svetlana Robertovna Dreving, Salim Kazbekovich Tarchokov and Olga Evgenievna Gorlova |
| Citation |
Vol. 22 No. 9 pp. 733-737 |
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Abstract |
The article considers the development of financial strategies for managing hotel business in the context of digitalization. It is established that the financial strategy should take into account the risk of non-payments, inflation surges, and other unpredictable circumstances. It is proved that the financial strategy aims at providing hotel businesses with the necessary and sufficient financial resources. It is revealed that the proposed mechanism for analyzing a financial strategy is a perfect tool for the effective management of the resource potential of the hotel business since it allows comprehensively assessing the financial stability and financial crisis with due regard to the results of activities in key parameters: liquidity, financial stability, and profitability. It is determined that the introduction of digital technologies into the operation of hotels will improve the qualifications of service personnel and their productivity, enhance the quality of work and services performed, reduce the time for providing such services, and increase the quality of guest service. |
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Keywords |
finances, strategy, management, hotel business, competiveness. |
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