Concept and Procedures of Crisis Management in Russian Hotel Enterprises
Abstract
Any economic crisis leads to increased risk, escalated competition and aggravated financial position of many Russian companies operating in the hospitality industry. Aside from external factors, crisis of the Russian hotel business is often triggered by poor hotel management systems, inadequate customers’ relationships and revenue management.The article focuses on the concept of a step-by-step development of crisis in the hotel industry, indicators of its manifestation and the objectives of anti-crisis management. The authors have developed methods and procedures of diagnosing the crisis state of a hotel enterprise and several tools of making the suggested procedures automatic. The proposed concept and the tools for its implementation facilitate the monitoring of the current situation by hotels, ensure an effective assessment of the hotel enterprises condition and define anti-crisis solutions. The article elaborates on the experience of applying the developed concepts in order to analyze three- and four-star hotel companies within the Moscow region and gives recommendations of the ways of their implementation.
References
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*** JLL web site. Moscow Hotel Market Overview 2014. Available online: http://www.jll.ru/russia/ru-ru/ Research/Moscow_Hotel_Market_Q4_2014_RUS.pdf?e58ad8eb-2218-438c-9be4-c9e2c4aa99fa
[2] Dedusenko, E.A., and Blinova, E.A. 2007. Marketing of the National tourist product. Governmental Regulation of tourism business in UK, Russia and China, Marketing in Russia and Abroad, 6: 92-97.
[3] El Gayar, N.F. et al. 2011. An integrated framework for advanced hotel revenue management. International Journal of Contemporary Hospitality Management, 23(1): 84–98.
[4] Fedorova, G.V. 2008. Accounting and Bankruptcy Analysis. 2nd Edition. Moscow (Russia): Omega-L.
[5] Golden-Romero, P. 2007. Hotel Convention Sales, Services and Operations. Madrid.
[6] Gronroos, C. 2011. Management and Marketing: Marketing the Moment of Truth in Service Competition. Toronto (Canada): Lexington Books.
[7] Harewood, S.I. 2006. Managing a hotel’s perishable inventory using bid prices. International Journal of Operations & Production Management, 26(10): 1108–1122.
[8] James, A.B. 2003. Hotel Front Office Management. 3rd Edition. John Wiley & Sons, Inc.
[9] Kaplan, R.S. and Norton, D.P. 1996. The Balanced Scorecard: Translating Strategy into Action. Boston (MA): Harvard Business School Press.
[10] Kobyak, M.V., and Layko, M.Y. 2011.Modern methods for assessing economic efficiency of hotel complexes and their key divisions. Microeconomics, 5: 94–97.
[11] Kovaltchuk, A.P. 2011. Crisis management of hotel companies in Russia. RISK: Resources, Information, Procurement, Competition, 4: 417–419.
[12] Makrinova, I.E., and Grigorieva, V.V. 2015. Motivation mechanism of work behavior enhancement of hospitality industry employees, Journal of Environmental Management and Tourism, Volume VI, Winter, 2(12): 320–330. Available from: http://www.asers.eu/journals/jemt/curent-issue. DOI: 10.14505/jemt.v6.2(12).04
[13] Romanyuk, A.V., and Kovaltchuk, A.P. 2015. Methods to improve economic efficiency of hotel companies in modern conditions in Russia. Scientific Bulletin of Moscow State Institute for Tourism Industry n. a. Yuri Senkevich, 2(34): 21–26.
[14] Talluri, K.T., and Ryzin, G.J.V. 2004. The Theory and Practice of Revenue Management. Springer Science + Business Media, Inc.
[15] Vinod, B. 2004. Unlocking the value of revenue management in the hotel industry. Journal of Revenue and Pricing Management, 3(2): 178–190.
[16] Yeoman, I. 2011. Revenue Management. A Practical Pricing Perspective. Palgrave Macmillan.
[17] Zaitseva, A. N. et al. 2015. Foresight technologies usage in working out long term forecasts of service and tourism personnel training system development. Journal of Environmental Management and Tourism, Volume VI, Winter, 2(12): 410–417. Available from: http://www.asers.eu/journals/jemt/curentissue. DOI: 10.14505/jemt.v6.2(14)
[18] Zarraga-Oberty, C., and Bonache, J. 2007. Human factors in the design of revenue management systems in multinational corporations. International Journal of Revenue Management, 1(2): 141–153.
[19] Skobkin, S.S. 2007. Services Practices in Hospitality and Tourism Industry. Moscow (Russia): Magistr: INFRA-M.
[20] Parmenter, D. 2007. Key Performance Indicators: Developing, Implementing and Using Winning KPI's. New Jersey (USA): John Wiley & Sons, Inc.
[21] Tranter, K.A., Stuart-Hill, T., and Parker, J. 2008. An introduction to Revenue Management for the Hospitality Industry: Principles and Practices for the Real World. Pearson Prentice Hall.
[22] Polyakova, E. 2010. Impact of global financial crisis on performance of middle hotel business in Moscow. RISK: Resources, Information, Procurement, Competition, 2: 296–299.
[23] Surhone, L.M. 2010. Yield Management. BetaScripting Publishing.
[24] Hayes, D.K., and Miller, A. 2010. Revenue Management for the Hospitality Industry. John Wiley and Sons, Ltd.
[25] Pullman, M., and Rogers, S. 2010. Capacity management for hospitality and tourism: A review of current approaches. International Journal of Hospitality Management, 29(1): 177–187.
[26] Zaitseva, N.A., and Larionova, A.A. 2011. Financial Management in Tourism and Hospitality Industry: Manual. Moscow (Russia): INFRA-M.
[27] Beck, J., Knutson, B., Cha, J., and Kim, S. 2011. Developing revenue managers for the lodging industry, Journal of Human Resources in Hospitality & Tourism, 10(2): 182–194.
[28] Belyanskiy, V.P., and Miloradov, K.A. 2013. Application of business analysis technologies in hospitality industry companies. RISK: Resources, Information, Procurement, Competition, 4: 229–232.
[29] Kozlov, D.A., and Popov, L.A. 2013. Forecasting and revenue management in hospitality business of Russian Federation: problems and improvement paths. Bulletin of Plekhanov Russian University of Economics, 12 (66): 49–56.
[30] Larionova, A.A. 2013. Key factors of financial risks in hotel business. Services in Russia and Abroad, 6 (44): 43–49.
[31] Kobyak, V.M, and Lvovna, I.E. 2015. The competitiveness of hotel facilities. Theory and practice, Journal of Environmental Management and Tourism, Volume VI, Winter, 2(12):374-381. Available at: http://www.asers.eu/journals/jemt/curent-issue. DOI: 10.14505/jemt.v6.2(12).10
[32] Lockwood, A., and Medlik, S. 2001. Tourism and Hospitality in the 21st Century. Orlando.
*** JLL web site. Moscow Hotel Market Overview 2014. Available online: http://www.jll.ru/russia/ru-ru/ Research/Moscow_Hotel_Market_Q4_2014_RUS.pdf?e58ad8eb-2218-438c-9be4-c9e2c4aa99fa
Published
2016-11-10
How to Cite
KOVALTCHUK, Andrey Pavlovich et al.
Concept and Procedures of Crisis Management in Russian Hotel Enterprises.
Journal of Environmental Management and Tourism, [S.l.], v. 7, n. 3, p. 473-480, nov. 2016.
ISSN 2068-7729.
Available at: <https://journals.aserspublishing.eu/jemt/article/view/357>. Date accessed: 23 nov. 2024.
Section
Journal of Environmental Management and Tourism
Keywords
industry of hospitality; economic risks; crisis development stages; crisis indicators; crisis management
Copyright© 2024 The Author(s). Published by ASERS Publishing 2024. This is an open access article distributed under the terms of CC-BY 4.0 license.