Analysis of the investment attractiveness of the hospitality industry areas using mathematical methods

Shinkarenko Volodymyr
PhD of Physical and Mathematical Sciences, Associate Professor of the Department of Statistics and Mathematical Methods in Economics, Odessa National Economic University, Odessa, E-mail:shinkarenko.v.n@gmail.com, ORCID ID: https://orcid.org/0000-0002-4388-3494

Shynkarenko Larysa
PhD of Pedagogical Sciences, Associate Professor of the Department of Management, International Humanities University, Odessa, E-mail:shinkar@te.net.ua, ORCID ID: https://orcid.org/0000-0003-3819-9003

Orlov Evgeniy
Senior Lecturer of the Department of Statistics and Mathematical Methods in Economics, Odessa National Economic University, Odessa, E-mail:orlov_ev@onu.edu.ua, ORCID ID: https://orcid.org/0000-0002-9212-9973

Cite this article:

Shinkarenko V., Shynkarenko L., Orlov E. (2023)Analysis of the investment attractiveness of the hospitality industry areas using mathematical methods. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Analiz investytsiinoi pryvablyvosti haluzei industrii hostynnosti za dopomohoiu matematychnykh metodiv; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 1-2 (302-303), pp. 135-143.

Abstract

The purpose of the article is to analyze the investment attractiveness of the hospitality industry areas for planning the process of sustainable development of hotel and restaurant enterprises. The study was conducted on the basis of statistical indicators of the financial and economic activity of temporary accommodation and catering enterprises for the period 2016-2019. The evaluation of indicators of the attractiveness of investments in the hospitality industry areas was carried out with the help of economic and mathematical methods using the concept of the optimal portfolio of investments by H. Markowitz, which is one of the basic theories of the modern investment market and is traditionally used in banking. Solving the problem of non-linear programming using MS EXCEL spreadsheets made it possible to identify areas of the hospitality industry with a higher rate of profitability and a low level of investment risk.The application of the portfolio theory made it possible to identify the most appealing, from the point of view of attracting investments, areas of production. "Activities of hotels and similar means of temporary accommodation", as well as "activities of restaurants, provision of mobile catering services" turned out to be them among the enterprises of temporary accommodation and organization of catering. Studies have shown that these areas of the hospitality industry are closely correlated in their economic activity.The results of the study can be used in the real sector of the economy to carry out investment activities in the field of hospitality industry to restore the sustainable financial and economic development of business entities in the post-war period.

Keywords

hospitality industry, investment policy, portfolio theory of H. Markowitz.

JEL classification: G110, C610; DOI: 10.32680/2409-9260-2023-1-2-302-303-135-143

UD classification: 330.322 303.519.8

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