Research and Diversification of Hotel Industry Enterprises’ Income in the Context of Ukraine-EU Cooperation Development
Students Name: Shkelebei Andrii Vasylovych
Qualification Level: magister
Speciality: International Business
Institute: Institute of Economics and Management
Mode of Study: full
Academic Year: 2024-2025 н.р.
Language of Defence: англійська
Abstract: The hotel industry is a significant sector of the Ukrainian economy, demonstrating great potential for development within the framework of international cooperation. Strengthening economic ties with the European Union (EU) offers new prospects for market expansion, improving service standards, and diversifying revenue streams. The Association Agreement between Ukraine and the EU has created favorable conditions for the development of the tourism and hotel industries, enhancing investment attractiveness and providing access to modern management tools (Kovaliv et al., 2020). The goal of this research is to identify optimal methods for diversifying the income of Ukrainian hotel enterprises within the context of international cooperation. The study examines economic mechanisms for revenue generation, identifies key challenges faced by hotel enterprises, and provides recommendations to improve financial stability. Special attention is given to the integration of hotels into international networks, which enables the optimization of operational activities, cost reduction, and increased management efficiency. Diversification of income, as noted by Redko and Furs (2020), has a multiplier effect on the economy, fostering the development of related industries such as transportation, communications, construction, trade, and finance. Based on international experience, the study demonstrates that integration into global hotel alliances, particularly Leading Hotels of the World, significantly boosts the competitiveness of enterprises by attracting premium-segment customers (Savchyn, 2022). This is particularly relevant given the growing demand for high-quality services dictated by international standards. The research employs a multifactorial model of income assessment, taking into account the interdependence of internal and external factors. For instance, it has been established that integration into international networks increases revenue by building brand trust and expanding distribution channels. According to Melnyk (2023), participation in global networks can enhance return on assets by an average of 15-20%, providing a strong incentive for Ukrainian hotels. The findings of this study demonstrate that international cooperation is a critical strategic direction for the development of Ukraine’s hotel enterprises. The proposed measures for income diversification, including the development of new services aligned with international standards, not only stabilize the financial standing of enterprises but also enhance their competitiveness in the market. Research Object: Hotel industry enterprises in Ukraine. Research Subject: Income diversification in the context of international cooperation. Methods: Economic analysis, mathematical modeling, comparative analysis, statistical analysis. Keywords: Hotel industry, income diversification, international cooperation, European Union (EU), Ukraine, hotel integration. References: Kovaliv M. V., Tymchyshyn T. M., Nikanorova O. V. 2020. FUNDAMENTALS OF EUROPEAN UNION LAW. Study guide. Lviv: 2020. Redko K. Yu., Furs O. S. 2020. MAIN TRENDS IN THE DEVELOPMENT OF TOURISM IN UKRAINE. MCG. Economic Bulletin of NTUU "KPI," 6, pp. 220-226. Klochko A. O., Tymchenko N. V. 2023. HOTEL INTEGRATION INTO INTERNATIONAL ALLIANCES: IMPACT ON FINANCIAL STABILITY AND SERVICE QUALITY. Collection of scientific papers Modern Economic Issues, 12, pp. 178-184. Savchyn M. V., Gnatyuk T. S. 2022. INTERNATIONAL HOTEL CHAINS AS A TOOL TO ENHANCE THE EFFICIENCY OF MANAGEMENT IN UKRAINIAN ENTERPRISES. Bulletin of Lviv Polytechnic, Series Management and Entrepreneurship in Ukraine, 867, pp. 98-105. Melnyk I. S., Vasylenko P. Yu. 2023. INTERNATIONAL ECONOMIC COOPERATION IN THE HOTEL BUSINESS: OPPORTUNITIES FOR UKRAINE. Journal Economics and Tourism, 7, pp. 134-140.