FEATURES OF ENTERPRISE MANAGEMENT IN THE HOTEL AND RESTAURANT BUSINESS BASED ON DETERMINING FINANCIAL STABILITY

Abstract

The article identifies the elements of financial stability that affect the activities of enterprises in the hotel and restaurant business. It is proven that financial stability is a complex and multifactorial concept influenced by the existing environment, with the highest form of financial stability being an enterprise's ability to develop under changing conditions. Conditions characterizing the level of financial stability are defined, and indicators for determining the level of financial stability are selected. For financial analysis and determining the level of financial stability of hotel and restaurant businesses in the city of Odesa, the following were used: the ratio of borrowed to own funds, the autonomy ratio, the maneuverability ratio of own funds, the efficiency ratio of using own funds, the financial stability ratio, and the financial dependence ratio. The article outlines the consequences of the functioning of hotels and restaurants in Odesa during the pre-war and wartime years. Key financial management problems at enterprises are identified. It is proven that under conditions of economic instability in the country and high competitiveness among Odesa hotels and restaurants, ensuring the financial stability of an enterprise is one of the most critical issues, as insufficient financial stability can lead to insolvency and a lack of funds for development. The financial condition of the largest hotel in the city, Premier Hotel Odesa, is analyzed, and a financial management system is proposed for it. The ways to improve the hotel's financial condition include: using factoring to increase profitability, enterprise profits, and liquidity; implementing solvency and financial stability analysis to reduce financial risk; introducing an inventory planning system for rational use of reserves; implementing managerial accounting to optimize costs and revenue allocation; introducing a modern cash flow management system; and developing and implementing a strategic financial policy.