The impact of external economic factors on development strategies of enterprises of the hospitality industry in the new realities of Russia’s relations with Western countries

Hotel business against the backdrop of the crisis in the economy and difficult foreign policy situation has got an opportunity to reach a new qualitative stage of strategic development. The article is aimed at the estimating of the foreign policy factors impact on the value of financial performance, development and implementation of development strategies of enterprises of hospitality industry. The organizational and economic relations arising in analyzing impact of the foreign policy factors on the strategic development of the hospitality industry, as well as the adjustment of strategic management under the action of these factors, are the subject of the article. The hypothesis of the study is that the timely account of the most significant foreign policy factors at the enterprise level provides more rapid development of the hospitality industry. The systematic approach, economic and statistical, quantitative and qualitative analysis were used in this research. The article analyzes in details the caused by foreign policy factors changes of the main indicators characterizing the development of the hotel business in the Russian Federation, as well as gives a comparison of operating performance of hotels in Moscow in recent years. The analysis allowed to identify the main development trends in the Russian hospitality industry. The authors have developed and described the authorial classification of hotel business development strategies, which includes four groups: the strategy of wide geographic expansion, the focused geographical strategy, the internal benefits development strategy, and diversification of the hotel business. The research results can be used in the expertanalytical and scientific community for further studies in the field of strategic management of hotel enterprises, as well as for practical use in the hospitality industry in designing and implementation of development strategies.