Development of industry 4.0 in the hotel and restaurant business

Abstract

Digital transformation or «Industry 4.0» appears on the agenda of companies all over the world. The hotel and restaurant business is a diverse, highly competitive industry and belongs to one of the fastest growing service sectors with significant potential for the development of digital technologies. The purpose of this study is to identify the role of digital innovations in the industry of hospitality and the adaptation of enterprise management to the possibilities of the digital revolution or to the conceptual breakthrough that it suggests. The article discusses the conceptual aspects of «Industry 4.0», analyzes the current state and prospects for the development of digital transformation of the industry, and explores pilot projects for the implementation of Industry 4.0 in the hotel and restaurant business. Based on the conducted research, the basic conditions for ensuring successful digital transformation and reducing the risks of digital innovations of enterprises of the hospitality industry were determined.