Problems and Prospects of Hospitality Industry Development in Modern Russia

Abstract :

The purpose of this article is to investigate the problems and to define the prospects of the hospitality industry development under modern market conditions in Russia. The main challenges for hospitality industry development were identified: lack of investment; lack of sophisticated marketing programs; lack of innovative technology adoption; lack of qualified personnel. The remedies to the detected challenges were proposed and discussed. The roadmap and forecast for successful hotel business development in Russia is presented.