Drivers of the hotel services Russian market under the foreign policy restrictions

The article analyzes the factors of development of hotel services in the Russian market. The study allows us to state the moderate growth of the hotel services industry in the conditions of foreign policy restrictions. The driver of the growth of the hotel services market is the reorientation of tourist demand to domestic destinations, causing the need to develop the quantity and quality of accommodation facilities provided. The development of the hotel services market is facilitated by government support measures aimed at boosting investment revenues in the industry. The outflow of foreign tourists has a negative impact on the development of the industry, which has led to a decrease in the occupancy rate of hotels in the high price segment. Foreign policy factors cause uncertainty and make it difficult to make investment decisions regarding the vector of development of hotel services. Analysis of industry factors and the nature of competition helps to make informed decisions when choosing a strategy for the development of organizations in the hotel sector.