Concept and Procedures of Crisis Management in Russian Hotel Enterprises

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