The Role of Millennials in the Formation of the Hotel and Restaurant Business Brand

Abstract

The topicality. In the context of the COVID-19 pandemic, the latest technologies to stimulate business development are becoming important. The source of change is millennials, which determine the prospects for development and contribute to the formation of competitiveness in the market. The purpose of the article is to determine the role of millennials in the formation of the hotel and restaurant business brand in the conditions of COVID-19. Research methods. The study used general scientific methods: analysis, abstraction, induction, deduction, synthesis, inference, generalization, comparison. Research results. The peculiarities of the concept of “millennials” have been defined. It has been established that millennials are young people aged 18-35 who have a positive impact on the development of the hotel and restaurant business and are generators of change. An expert assessment of the impact of millennials on the hotel and restaurant business was conducted. It identifies the main technologies preferred by millennials by gender and age group. The scheme of formation of the brand model by millennials in the conditions of COVID-19 has been developed. Conclusions and discussions. It is determined that millennials are the main driving force of strategic changes in the hotel and restaurant business and contribute to the development and competitiveness of organizations.