INNOVATIVE APPROACHES TO HOTEL AND RESTAURANT BUSINESS MANAGEMENT: EXPERIENCE OF DEVELOPED COUNTRIES

Introduction. The hotel and restaurant business is an important component of the modern economy and significantly affects the quality and comfort of people's lives. Growing consumer expectations, the rapid pace of technological development, and changes in cultural perceptions are challenging traditional approaches to management. In the context of developed countries, the question of effective use of innovative approaches to hotel and restaurant business management arises. How to achieve competitive advantage and meet the growing expectations of customers in this extremely dynamic industry? Purpose. The purpose of this study is to analyze innovative approaches to hotel and restaurant business management in developed countries, determine their effectiveness, and develop recommendations for practical implementation. Materials and methods. The research is based on the analysis of scientific literature, the study of domestic and foreign experience, as well as conducting expert interviews with leading specialists in the field. Methods of SWOT analysis and comparative analysis are used to evaluate the effectiveness of innovative strategies. The study analyzed modern trends in the hotel and restaurant industry of developed countries, identified key innovative approaches and their impact on business, and identified obstacles and opportunities for their implementation. Results. Based on the obtained results, recommendations were developed for the practical implementation of innovative approaches to hotel and restaurant business management in developed countries. In particular, it is recommended to actively use the latest technologies, attract talented personnel and constantly improve the service to meet the needs of modern customers. Discussion. The conducted research opens wide prospects for the further development of the hotel and restaurant sector. Given the importance of innovative approaches in modern business, the research results provide valuable insight for managers and entrepreneurs who seek to ensure the competitiveness of their enterprises. The implementation of the recommendations identified in the study can contribute to improving the quality of service, attracting new customers and increasing the profitability of the hotel and restaurant business in the future.