Another reason VUM to be proud of is the latest student’s publication: International sanctions and Russia’s hotel industry: the impact on business and coping mechanisms of hoteliers, by Stanislav Ivanov, Liliia Sypchenko and Craig Webster, published in one of the well-known tourism and hospitality academic journals: Tourism Planning and Development.
22.07.2016 The publication might be considered as one of the first publications in the world, exploring the effects of international sanctions on the Russian Federation on the local hotel industry. It is based on the diploma project of our Alumni student – Liliia Sypchenko, who graduated VUM Bachelor programme in International Hospitality Management in 2015.
The research aims at evaluating the impacts of the international sanctions on Russia’s hotel industry and the action undertaken by the hoteliers to mitigate the negative impacts of the sanctions. The sample includes the responses of 103 hotel managers from 11 popular tourist destinations around the Russian Federation.
The findings show that from managerial point of view the sanctions had a definite negative influence on the hotel business in the Russian Federation. However, findings indicate as well that managers react quite differently. Their reaction is actually based on the size and category of hotels they run and therefore the used strategies for mitigation of negative impact of the sanctions differ. The strategies are mostly focused on the payment methods, number of employees, supplier payments, marketing tools, decreasing prices and others.
We believe that the article might be quite beneficial for any of you interested in hospitality and tourism industry. Find the full article here.