Strategizing Priorities in the Hospitality Industry: Foreign Best Practices

The hospitality industry is a major inter-industry complex that adapts its services to a wide range of demands and expectations. Digitalization, shifts in the global tourism market architecture, generational value changes, and macroeconomic shocks require structural strategic planning within the global hospitality market. It requires a long-term development vector to navigate a turbulent external environment and complex cross-sectoral relationships. This article describes the specific developmental characteristics of the hospitality industry based on global, national, and industry trends. As an integral part of tourism, the hospitality industry must maintain uniform, high-quality service standards while preserving the cultural identity of tourist destinations, a task in which major global hotel chains seem to be quite successful. Based on the Russian school of strategic management, an analysis of the long-term development experience of major international hospitality chains revealed common strategic approaches. This analysis provides general recommendations for the national hospitality industry within the current socioeconomic and cultural landscape.