GLOBALIZATION IMPACT ON THE HOTEL AND RESTAURANT BUSINESS

The article considers the key issues of the impact of globalization on the hotel and restaurant business. The market of hotel and restaurant services began to be actively mastered by private business: the upper price segment was formed, represented by high-class hotels, in which there is already a real and quite fierce competition; middle-class hotels are being built and reconstructed, although not at such a rapid pace, new niches are being mastered, such as the niche of small high-class hotels; attempts are being made to create domestic hotel chains. Thus, the key role in these processes is played by management, providing in hotel and restaurant business realization of investment projects, effective current management, including all its aspects: operations, personnel, finances, marketing. The article substantiates the need to deepen sound recommendations for improving the activities of hotel and restaurant businesses based on their effective management, including strategic, operational and financial aspects in the global ecosystem. The hotel and restaurant business is the result of globalization, and at the same time the expansion of hotel groups in the world market is the result of globalization. Hotel practices and policies must respond to changes in the socio-economic and political environment. The impact of globalization on the hotel business is defined precisely in terms of how business image, skills, attitudes and behavior constitute effective and efficient intercultural interaction, how people use critical cultural knowledge. Reflections on the research of these specific phenomena and their interrelationships underlie the fact that globalization has affected and changed the lives of people throughout the entire world. Thus, the hotel and restaurant industry as a working environment cannot remain unchanged. The term globalization has recently been widely used to describe the state of the hospitality industry. The expansion of hotel brands globally, the recruitment of global workforce and the placement of global customers in the hotel business are the consequences of globalization. The situation with the hotel and restaurant business is complicated by the fact that at the moment no one knows how long the quarantine will last and how quickly the flow of guests will resume after its completion. Even if the pandemic is stopped by the end of 2021, the market will not be able to recoup its losses quickly. For at least another two to three months after the end of quarantine, people will refrain from traveling, even within the country.