Organizational and economic mechanism for sustainable development of hospitality companies: Theoretical and methodological foundations

Aim. This work aimed to develop the theoretical and methodological foundations of an organizational and economic mechanism to ensure the sustainable development of hospitality companies.

Objectives. The work seeks to formulate the operating principles of the organizational and economic mechanism for sustainable development of hospitality companies; and to substantiate and characterize the interaction technology of the key components of the organizational and economic mechanism for sustainable development of hospitality companies within the context of a stakeholder approach.

Methods. General scientific methods, including systems and comparative analysis, and structural modeling, were used as methodological tools.

Results. We have developed and proposed a structured model of the organizational and economic mechanism for sustainable development of hospitality companies. This model incorporates a set of principles, methods, tools, and management decisions aimed at ensuring the long-term stability and competitiveness of hospitality companies. A distinctive feature of the mechanism proposed is its emphasis on the use of synergistic interaction tools between enterprises and key stakeholders (government agencies and municipalities, tourism and industry organizations, suppliers, clients, local communities, etc.).

Conclusions. The implementation of the proposed mechanism for sustainable development of hospitality companies contributes to the overall resilience of hotel enterprises, reduces their vulnerability to external risks associated with environmental volatility, and ensures increased effectiveness of management decisions by achieving a synergistic effect in the interactions between enterprises and stakeholders. Systematic partnerships between hospitality companies and stakeholders represent a key factor in their long-term sustainability, as they align interests, mitigate risks, and increase predictability. Systematic and consistent interaction with guests, staff, suppliers, travel organizers, government agencies, and the local community enables hotels to adapt sustainably to changes in the external environment, maintain stable demand, access to resources and investment, and create trust and a reputation as a reliable partner. As a result, such partnerships become the foundation for the long-term financial, social, and reputational sustainability of hospitality companies.

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