DEVELOPMENT TRENDS OF THE GLOBAL HOTEL MARKET AND THE PLACE OF UKRAINE IN IT
Authors: Romanykha O. M. , Shapovalova I. V. , Shuliak N. V. 
Published: April 2024

Objective. The objective of the present article is to study trends in the development of the hotel services market in the world and Ukraine.

Methods. The following methods were used: analogy, analysis, synthesis, deduction, logical generalization; statistical method (for the systematization of statistical materials regarding the number of hotels, their size, number of beds, determination of the number of overnight stays and average room occupancy, assessment of the impact of tourist flow on the dynamics of the development of the hotel industry); multidimensional factor analysis (to identify external and internal factors affecting the development trends of the hotel market in Ukraine and the world).

Results. A comparative analysis of the dynamics of the development of regional hotel markets in the world was carried out and the fate of the Ukrainian market in the world was determined. The following indicators were analyzed: the total number of hotels and rooms; level of distribution of hotel chains; share of coverage of the world hotel market by hotel chains; value of hotel brands; dynamics of investment in the hotel market by continent.

As a result of the analysis, it was established that the main players in the market of hotel services in the world are the USA, the EU, and China. These countries formed centers around themselves that extended their influence to other regions. Hotel chains were the main tool of competitive confrontation. Their share in the total share of the world hotel market increased. They covered more than 50% of the market, and in some countries it reached 90%. US hotel chains covered 40% of the world market of hotel services, were represented on all continents of the world and actively competed with Chinese ones. At the same time, the impact of the COVID-19 pandemic did not lead to a reduction in the number of hotels among the chains. Fixing a decrease in the total number of accommodation facilities in the world (independent and chain), the number of chain hotels increased from 119,000 to 157,000 during the studied period, and the number of rooms from 12 million units to 13 million, respectively. The impact of the pandemic on the overall dynamics of the development of the global hotel market showed a decrease in the number of hotels and rooms in the Americas, Asia and Oceania. On the contrary, the share of EU countries has increased. The growth of Ukraine's share in the European market is also recorded. However, these increases were not due to an increase in the number of hotels, but to a lower rate of their reduction due to the COVID-19 pandemic.

It was established that the dynamics of investment activity is gradually reaching pre-pandemic financing volumes. The leading position continues to be retained by the USA with a level of 60% of the global volume of investments in the industry. The countries of Europe, Asia and Oceania keep this indicator at the level of 30%. It has been proven that in the conditions of competition between the USA, China, and the EU, Ukrainian hotel chains could expand only towards the post-Soviet space (the countries of Central Asia and the Caucasus) - as a free territory.