Development of the financial potential of the hospitality industry institution
Actual Problems of Economics(2023)
Abstract
The article examines the estimated indicators of the financial potential of the hospitality industry establishment. They include a set of financial resources, which constitute the sum of income and receipts for carrying out financial and economic activities. It is emphasized that, according to the company's financial statements, financial resources include revenue from sales, income from other activities, and the amount of passive capital or source capital. It was determined that financial resources are the material carrier of the system of economic relations. They form the financial potential and ensure the maximization of the financial result of the enterprise by directing them to the implementation of investment projects. This, in turn, contributes to the development of financial potential due to the net cash flows and income generated by these projects. Problems have been identified in the functioning of the "Green Grove" glamping site, which are connected with the limited number of places for accommodation and the lack of organized food for consumers. The directions for improving the activities of the glamping "Green Grove" have been determined, which include increasing the number of beds and seats by installing an additional glamping and opening a new functional unit for the provision of food services not only to guests living in the glamping, but also to visitors during the organization of daily service. An investment project for the development and improvement of the hospitality industry establishment was developed, and its financial and economic justification was carried out. The material and technical equipment of the additional glamping and the functional unit for the provision of food services has been calculated. The amount and structure of current expenses, as well as income and profit of the glamping "Green Forest" according to the investment project have been determined. The payback period of the project, the marginal profit, the marginal profit coefficient, and the critical volume of sales were calculated.
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Key words
financial potential,industry
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