ADVANTAGES AND CHALLENGES OF FAMILY BUSINESS IN THE HOTEL AND RESTAURANT BUSINESS

The article analyzes the advantages and challenges faced by family entrepreneurs in the hotel and restaurant business. Family entrepreneurship has unique features that can become both a source of competitive advantages and lead to certain difficulties. The article examines the key features of family businesses in the hotel and restaurant segment, such as a high level of owner involvement, traditional approaches to customer service, as well as problems associated with succession, adaptation to market changes and management. Opportunities for growth and sustainability of family businesses are analyzed, as well as recommendations for improving efficiency and competitiveness in a dynamic market.