MEASURING MARKET COMPETITION INTENSITY IN THE HOSPITALITY SECTOR

ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 117 MEASURING MARKET COMPETITION INTENSITY IN THE HOSPITALITY SECTOR Rustam Olimjonovich Oltinov Abstract. This study examines the intensity and evolution of market competition within the hospitality sector of Bukhara region, Uzbekistan, across the period 2022-2024, employing the Hannah-Kay concentration index as the primary analytical instrument. The research addresses the critical policy question of whether market liberalization and tourism sector expansion have generated competitive market structures conducive to service quality improvement and price efficiency. Utilizing comprehensive statistical data on service volumes from 17-18 accommodation establishments representing major hotels and tourist facilities across three consecutive years, the analysis computes market concentration indices with parametric specification α=1.5, appropriate for assessing overall market concentration dynamics. Empirical findings reveal Hannah-Kay index values of 14.47 for 2022, 14.95 for 2023, and 14.90 for 2024, substantially exceeding the monopoly threshold of 1.0 and indicating robust competitive market conditions throughout the observation period. The progressive increase from 2022 to 2023 suggests intensifying competition driven by new market entrants, particularly the opening of international chain hotel Wyndham Bukhara, while the slight stabilization in 2024 indicates market maturation. Market share analysis identifies Oriyent Star Varahsha and Wyndham Bukhara as market leaders with shares of 11.6% and 12.0% respectively in 2024, while no single establishment demonstrates dominant market power exceeding 15%, confirming dispersed market structure. The study contributes methodologically by demonstrating the applicability of concentration indices to hospitality sector analysis in emerging tourism markets, providing empirical baseline measurements for regulatory assessment, and offering theoretical insights regarding the relationship between market structure, service diversification, and quality competition in regional tourism contexts. Policy implications emphasize the importance of maintaining competitive market conditions through continued support for diverse establishment types including family-run guesthouses alongside international chains, quality certification programs, and monitoring mechanisms preventing anti-competitive consolidation. The findings support continued liberalization policies while suggesting targeted interventions to strengthen smaller establishments' competitive capabilities through training, financing access, and marketing support programs. Keywords: market competition, Hannah-Kay index, hospitality sector, tourism development, Bukhara region, market concentration, hotel industry, competitive analysis, market structure, Uzbekistan 1. Introduction The hospitality sector occupies a central position within the broader tourism economy, serving as essential infrastructure enabling visitor accommodation, consumption experiences, and destination competitiveness. Market structure characteristics within hospitality sectors, particularly the intensity of competition among accommodation providers, exert fundamental influences on service quality, pricing efficiency, innovation dynamics, and ultimately destination attractiveness. In contexts where tourism development constitutes a strategic economic priority, understanding competitive dynamics within hospitality markets becomes essential for effective policy design, regulatory framework development, and investment attraction strategies. ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 118 Bukhara region represents one of Uzbekistan's premier cultural tourism destinations, distinguished by UNESCO World Heritage designation of its historic city center, extensive architectural monuments spanning multiple Islamic dynasties, and deeply embedded positioning within Silk Road historical narratives. Following Uzbekistan's comprehensive economic liberalization initiated in 2016, including currency convertibility reforms, visa liberalization, and strategic tourism sector development programs, Bukhara has experienced substantial expansion in visitor arrivals, accommodation capacity, and hospitality service diversity. The government's Tourism Development Strategy through 2030 explicitly prioritizes Bukhara as a flagship destination, targeting increased international visitor flows, enhanced service quality standards, and improved competitiveness within global heritage tourism markets. In recent years, Bukhara's hospitality sector has undergone notable transformation characterized by service diversification, quality enhancement initiatives, and innovative approaches to tourism accommodation. Hotels actively pursue international certification standards to attract foreign tourists while simultaneously witnessing proliferation of smaller family-operated guesthouses and traditional courtyard accommodations. This dual expansion pattern, encompassing both international chain hotel entry and grassroots entrepreneurial accommodation development, creates increasingly competitive market environments with important implications for pricing dynamics, service standards, and overall destination quality positioning. The central research question motivating this study concerns the actual intensity of competition within Bukhara's hospitality market and its evolution across recent years marked by policy reform and capacity expansion. While qualitative observations suggest competitive market conditions, rigorous quantitative assessment utilizing established industrial organization methodologies remains absent from existing literature on Uzbekistan's tourism sector. Understanding whether market structures exhibit genuinely competitive characteristics versus concentrated oligopolistic patterns carries significant policy implications for regulatory approaches, quality assurance mechanisms, and strategic development priorities. This research employs the Hannah-Kay concentration index, a widely utilized industrial organization measure, to quantify market competition intensity within Bukhara's accommodation sector across three consecutive years: 2022, 2023, and 2024. The Hannah-Kay index offers methodological advantages including flexibility through parametric specification enabling focus on different competitive dimensions, mathematical generalization encompassing multiple alternative concentration measures, and straightforward interpretation facilitating policy communication. By systematically computing concentration indices based on comprehensive service volume data from major accommodation establishments, the study provides empirical baseline measurements of market structure characteristics and competitive intensity evolution. The study objectives encompass: (1) computing Hannah-Kay concentration indices for Bukhara's hotel market across 2022-2024 to establish quantitative baselines of competition intensity; (2) analyzing market share distributions to identify dominant establishments and assess concentration patterns; (3) examining temporal evolution in competitive intensity to determine whether market liberalization policies have fostered more or less competitive conditions; (4) evaluating the relationship between market structure and service diversity, quality competition, and establishment types; and (5) deriving policy implications for tourism sector regulation, quality standards enforcement, and competitive market maintenance. The research contributes to scholarly literature and policy development in several dimensions. First, it demonstrates methodological application of industrial organization concentration measures to hospitality sector analysis in emerging market tourism contexts, providing ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 119 replicable analytical frameworks for other destinations. Second, it establishes empirical baseline measurements of market structure for Bukhara's accommodation sector, enabling future longitudinal analysis and policy impact assessment. Third, it addresses theoretical questions regarding relationships between tourism sector liberalization, market entry dynamics, and competitive intensity evolution in transitional economies. Fourth, it generates actionable policy insights regarding regulatory approaches, quality assurance mechanisms, and interventions supporting competitive market maintenance while enabling diverse establishment types. 2. Literature Review The analysis of market structure and competitive intensity within specific industries constitutes a foundational concern within industrial organization economics, generating extensive theoretical and empirical literature examining concentration patterns, competitive behaviors, and relationships between market structure and performance outcomes. The fundamental structure-conduct-performance paradigm, originally articulated by Mason and refined by Bain, posits that market structure characteristics including concentration levels, entry barriers, and product differentiation systematically influence firm conduct regarding pricing, innovation, and strategic behavior, which in turn determine performance outcomes encompassing efficiency, profitability, and consumer welfare. While subsequent theoretical developments including contestable markets theory and game-theoretic approaches have nuanced this framework, the basic insight that market structure matters for economic outcomes remains central to competition policy and regulatory economics. Measurement of market concentration represents a critical methodological challenge within industrial organization research, generating diverse index formulations each emphasizing different aspects of competitive intensity. The most widely employed measures include the concentration ratio capturing the combined market share of the largest firms, the HerfindahlHirschman Index measuring the sum of squared market shares, and the Hannah-Kay index offering flexible parametric specification. The Hannah-Kay index, proposed by Hannah and Kay in 1977, provides particular advantages through its generalization property, as appropriate parameter selection enables reproduction of various alternative concentration measures including the Herfindahl-Hirschman index as a special case. The parameter α in the HannahKay formulation determines the weight assigned to firms of different sizes, with higher values emphasizing dominant firms while lower values incorporate smaller competitors' influence, enabling analytical flexibility matching research objectives. Application of concentration indices to hospitality and tourism sectors has received increasing scholarly attention, reflecting recognition of tourism's economic significance and distinctive market characteristics including high spatial concentration, heterogeneous product differentiation, and seasonal demand fluctuations. Studies examining hotel market concentration in various destinations have revealed diverse patterns ranging from highly concentrated markets dominated by major chains to fragmented structures with numerous independent operators. Research in mature tourism destinations typically identifies moderate concentration levels with significant chain presence alongside independent establishments, while emerging destinations often exhibit more fragmented structures during initial development phases followed by progressive consolidation as markets mature. The relationship between market concentration and service quality within hospitality sectors constitutes an important research theme with ambiguous theoretical predictions. Traditional industrial organization theory suggests that competitive markets with numerous firms generate pressures for quality improvement and innovation as establishments compete for market share, ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 120 while concentrated markets may enable quality reductions due to diminished competitive pressure. However, alternative perspectives emphasize that larger firms in concentrated markets may possess greater resources for quality investment, standardization capabilities supporting consistency, and reputation concerns motivating quality maintenance. Empirical evidence reveals mixed patterns across different contexts, suggesting that relationships between concentration and quality depend on additional factors including regulatory frameworks, consumer information availability, and brand reputation dynamics. Tourism sector development in transition economies, including Central Asian countries, has attracted scholarly attention focusing on privatization processes, foreign investment patterns, and institutional framework evolution. Research on Uzbekistan's tourism sector specifically has documented substantial policy reforms including visa liberalization, heritage site development, and infrastructure investment, though quantitative analysis of market structure dynamics remains limited. Existing studies emphasize cultural heritage assets, particularly in Silk Road cities including Bukhara, Samarkand, and Khiva, while noting infrastructure constraints and service quality challenges requiring continued investment and capacity development. The interplay between international hotel chain entry and domestic entrepreneurial accommodation development represents a recurring theme, with questions regarding optimal balances between standardization and authenticity, scale economies and local embeddedness. Market entry dynamics and competitive evolution in hospitality sectors demonstrate distinctive patterns shaped by capital requirements, location advantages, brand value, and regulatory frameworks. Barriers to entry including land acquisition costs, construction expenses, licensing requirements, and quality certification processes influence market structure evolution and concentration trajectories. Research on hotel market dynamics emphasizes the importance of reputation effects, network externalities from reservation systems and loyalty programs, and first-mover advantages in securing premium locations. These factors may generate natural tendencies toward concentration even absent explicit anticompetitive behavior, suggesting the importance of monitoring market structure evolution and implementing policies supporting continued new entry. The methodological literature on hospitality sector analysis emphasizes several measurement challenges requiring careful consideration. Definition of relevant market boundaries, particularly geographical scope and product category inclusion, significantly influences concentration calculations and competitive assessment. Treatment of diverse establishment types including hotels, guesthouses, vacation rentals, and alternative accommodations raises classification questions affecting market share computations. Availability and reliability of data, particularly in contexts with substantial informal sector activity, may limit empirical analysis comprehensiveness. These methodological considerations suggest the importance of transparent definitions, sensitivity analysis, and acknowledgment of measurement limitations in research reporting. Policy implications of market structure analysis for tourism sectors encompass multiple dimensions. Competition policy frameworks must balance objectives of maintaining competitive market conditions, enabling scale economies and quality standardization, and supporting diverse establishment types including small independent operators contributing to destination authenticity. Quality assurance and certification systems play important roles in addressing information asymmetries and supporting competition on quality dimensions rather than pure price competition potentially degrading service standards. Strategic tourism development planning requires consideration of carrying capacity constraints, infrastructure requirements, and sustainable growth trajectories preventing market oversupply and ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 121 destructive competition. These multifaceted policy considerations underscore the value of rigorous market structure analysis informing evidence-based policy design. 3. Methodology This research employs quantitative analysis of market concentration utilizing the Hannah-Kay index to assess competitive intensity within Bukhara region's hospitality sector across the period 2022-2024. The methodological approach combines established industrial organization measurement techniques with careful attention to data quality, market definition, and interpretive frameworks appropriate for tourism sector contexts in transitional economies. 3.1 The Hannah-Kay Concentration Index The Hannah-Kay index, developed by Hannah and Kay (1977), provides a flexible parametric measure of market concentration generalizing various alternative concentration indices through appropriate parameter selection. The index is defined mathematically as: HK(α) = (Σᵢ₌₁ⁿ Sᵢᵅ)^(1/(1-α)), where Sᵢ represents the market share of firm i, n denotes the total number of firms in the market, and α constitutes a parameter determining the weight assigned to firms of different sizes. The parameter α plays a crucial role in determining the index's sensitivity to market structure characteristics. When α=2, the Hannah-Kay index reduces to the reciprocal of the Herfindahl-Hirschman Index, the most widely employed concentration measure in competition policy analysis. Selection of α values reflects research objectives and analytical focus. For research objectives emphasizing overall market concentration assessment, parameter values of α=1.5 or α=2 are considered appropriate, providing balanced sensitivity to both large and medium-sized firms. For research objectives requiring deep examination of monopolistic or dominant firm influences, parameter values of α>2 are appropriate, emphasizing the largest market participants. For research objectives incorporating small firm influences and market fragmentation assessment, parameter values satisfying 0.5≤α<1 are appropriate, giving greater weight to smaller market participants. This parametric flexibility enables tailored analysis matching specific research questions and policy concerns. Interpretation of Hannah-Kay index values follows straightforward principles. A value of HK=1 indicates perfect monopoly with a single firm controlling the entire market. Values substantially exceeding 1 indicate competitive market structures with market power distributed across multiple firms. Higher index values reflect more dispersed market shares and greater competitive intensity. The index thus provides an inverse measure of concentration, with higher values indicating lower concentration and stronger competition. This interpretation enables direct assessment of whether markets exhibit competitive or concentrated characteristics and facilitates temporal comparison to assess whether competition is intensifying or diminishing. 3.2 Market Definition and Data Sources The relevant market for this analysis encompasses accommodation establishments providing tourist lodging services within Bukhara region, focusing specifically on hotels and formally registered guesthouses serving both international and domestic tourists. Market definition excludes residential housing, temporary accommodations, and informal sector lodging not captured in official statistics. This definition reflects the study's focus on formally established ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 122 hospitality businesses subject to regulatory oversight and quality standards, while acknowledging that informal accommodation provision may exist alongside the formal sector. Data for the analysis derive from official statistical reporting by accommodation establishments to regional tourism authorities, compiled by the Bukhara Region Statistics Department. The primary performance metric employed for market share calculation is annual service volume measured in billion som, representing the total value of accommodation and related services provided by each establishment during the calendar year. Service volume provides a comprehensive measure of establishment size and market presence, incorporating both room occupancy rates and pricing levels, thus offering advantages over simple capacity measures such as room counts. The sample encompasses 17 establishments for 2022, expanding to 18 establishments for both 2023 and 2024, representing major hotels and tourist facilities operating in Bukhara region. These establishments collectively account for the substantial majority of formal sector accommodation capacity and service provision in the region, though the sample does not claim complete census coverage of all small guesthouses and minor establishments. The expansion from 17 to 18 establishments between 2022 and 2023 reflects the market entry of Wyndham Bukhara, an international chain hotel representing significant foreign investment and capacity addition. 3.3 Analytical Procedures The analytical procedure consists of several sequential steps implemented consistently across all three years. First, service volume data in billion som are compiled for each establishment from official statistical sources. Second, market shares are calculated by dividing each establishment's service volume by the total service volume across all establishments in the sample. Third, the Hannah-Kay index is computed using the formula specified above with parameter value α=1.5, selected as appropriate for overall market concentration assessment in accordance with methodological guidelines. Fourth, results are interpreted through comparison with the monopoly benchmark value of HK=1 and through temporal comparison across years to assess trends. Fifth, supplementary analysis examines market share distributions to identify dominant establishments and assess concentration patterns beyond aggregate index values. The parameter value α=1.5 was selected for this analysis based on the research objective of assessing overall market concentration characteristics rather than focusing exclusively on dominant firm analysis or small firm fragmentation. This parameter value provides balanced sensitivity to both larger established hotels and medium-sized establishments, enabling comprehensive market structure assessment. Sensitivity analysis using alternative parameter values could provide additional insights but falls beyond the scope of this initial baseline assessment. 3.4 Methodological Limitations Several methodological limitations merit acknowledgment. First, the analysis relies on service volume data from formal sector establishments captured in official statistics, potentially excluding small informal guesthouses and alternative accommodations, which may result in overstatement of concentration if informal sector is substantial. Second, the sample encompasses major establishments but does not claim complete census coverage, introducing potential selection bias if excluded establishments exhibit systematically different characteristics. Third, service volume as a market size measure incorporates both quantity and price effects, potentially conflating capacity utilization with pricing power in market share ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 123 calculations. Fourth, the analysis employs regional geographical market definition, not accounting for potential spatial segmentation between city center and peripheral areas with different competitive dynamics. Fifth, the study focuses on market structure measurement without addressing causal questions regarding determinants of observed patterns or impacts on performance outcomes. These limitations suggest the findings should be interpreted as indicative of broad competitive patterns rather than definitive comprehensive assessments, with recognition that more detailed analysis incorporating additional data sources could refine conclusions. 4. Results 4.1 Market Competition Analysis for 2022 Analysis of Bukhara region's hospitality market for 2022 reveals competitive market structure characteristics with dispersed market shares across multiple establishments. The sample encompasses 17 accommodation establishments providing services totaling 396.9 billion som during the calendar year. Market share distribution demonstrates no single dominant establishment, with the largest operators Oriyent Star Varahsha and Sitorai Moxi Xosa controlling 13.1% and 10.9% of the market respectively, while the smallest establishments Turon Plaza and Dunyo Palace account for 3.1% and 2.8% respectively. Table 1. Market Share Distribution of Bukhara Hotels, 2022 No. Accommodation Facility Service Volume (bln som) Market Share Sα(α=1.5) 1 Grand Bukhara 32.3 0.081 0.023 2 Shaxriston 23.6 0.059 0.014 3 Hotel Asia Bukhara 28.7 0.072 0.019 4 Zargaron Plaza 16.9 0.043 0.009 5 Oriyent Star Varahsha 52.1 0.131 0.048 6 Turon Plaza 12.5 0.031 0.006 7 Ark 16.2 0.041 0.008 8 Sahid Zarafshon 33.7 0.085 0.025 9 Poykent Bukhara 26.1 0.066 0.017 10 Garden Plaza Bukhara 18.5 0.047 0.010 11 Dunyo Palace 11.1 0.028 0.005 12 Turon City Plaza 25.5 0.064 0.016 13 Reikartz Bahor Bukhara 12.7 0.032 0.006 14 Paradise Plaza 15.8 0.040 0.008 15 Dera Hotel 13.2 0.033 0.006 ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 124 No. Accommodation Facility Service Volume (bln som) Market Share Sα(α=1.5) 16 Mercure Bukhara Old Town 14.6 0.037 0.007 17 Sitorai Moxi Xosa 43.4 0.109 0.036 Total 396.9 1.000 0.263 Computing the Hannah-Kay index with parameter α=1.5 using the summation of raised market shares yields: HK(1.5) = (0.263)^(1/(1-1.5)) = (0.263)^(-2) = 14.47. This index value substantially exceeds the monopoly benchmark of 1.0, indicating competitive market structure. The magnitude of 14.47 suggests that market power is distributed across multiple establishments rather than concentrated in a single dominant firm. This competitive intensity implies that hotels must compete actively on service quality, pricing, and amenities to attract and retain customers, creating market pressures favoring consumer welfare through improved offerings and reasonable pricing structures. 4.2 Market Competition Analysis for 2023 Analysis of 2023 market structure reveals continued competitive conditions with slight intensification compared to 2022. The sample expands to 18 establishments following the market entry of Wyndham Bukhara, an international chain hotel representing significant foreign investment and capacity addition. Total service volume across establishments increased to 515.4 billion som, representing 30% growth over 2022 levels and reflecting both new capacity addition and increased utilization of existing establishments. Market share distribution for 2023 shows Wyndham Bukhara emerging as the largest single establishment with 12.0% market share, followed by Oriyent Star Varahsha at 11.5% and Sitorai Moxi Xosa at 9.6%. The smallest establishments Dunyo Palace and Turon Plaza account for 2.5% and 2.8% respectively. Computing the Hannah-Kay index for 2023 with α=1.5 yields: HK(1.5) = (0.259)^(-2) = 14.95. This index value exceeds the 2022 result of 14.47, indicating slight intensification of competitive conditions. The increase in competition intensity despite the entry of a large international chain hotel suggests that the market accommodated new capacity without significant concentration increases, as existing establishments maintained or expanded their service volumes. The sustained high competition index value confirms that Bukhara's hotel market continued to exhibit competitive rather than concentrated characteristics in 2023. 4.3 Market Competition Analysis for 2024 Analysis of 2024 market structure reveals sustained competitive conditions with slight stabilization compared to 2023's intensified competition. The sample maintains 18 establishments with continued operation of all facilities present in 2023. Total service volume increased to 579.7 billion som, representing 12.5% growth over 2023 levels, suggesting more moderate expansion reflecting market maturation after the substantial growth experienced in 2022-2023. Market share distribution for 2024 demonstrates remarkable stability compared to 2023, with Wyndham Bukhara maintaining 12.0% market share, Oriyent Star Varahsha holding 11.6%, and Sitorai Moxi Xosa accounting for 9.6%. This stability in relative market positions suggests equilibrium dynamics with established competitive relationships. ISSN: 3030-3931, Impact factor: 7,241 Volume 10, issue 2, Noyabr 2025 https://worldlyjournals.com/index.php/Yangiizlanuvchi worldly knowledge OAK Index bazalari : research gate, research bib. Qo’shimcha index bazalari: zenodo, open aire. google scholar. Original article 125 Table 2. Market Share Distribution of Bukhara Hotels, 2024 No. Accommodation Facility Service Volume (bln som) Market Share S^α (α=1.5) 1 Grand Bukhara 41.5 0.072 0.019 2-17 [Additional hotels omitted for brevity] ... ... ... 18 Wyndham Bukhara 69.6 0.120 0.042 Total 579.7 1.000 0.259 Computing the Hannah-Kay index for 2024 with α=1.5 yields: HK(1.5) = (0.259)^(-2) = 14.90. This index value remains substantially above the monopoly threshold and closely approximates the 2023 result of 14.95, indicating sustained competitive market conditions with slight stabilization following the intensification observed between 2022 and 2023. The minimal change between 2023 and 2024 suggests that market structure has reached a relatively stable equilibrium configuration following the entry of Wyndham Bukhara, with competitive dynamics maintained through balanced growth across multiple establishments rather than progressive concentration. 4.4 Temporal Evolution and Competitive Dynamics Examination of Hannah-Kay index evolution across the three-year observation period reveals an overall pattern of intensifying competition followed by stabilization. The progression from HK=14.47 in 2022 to HK=14.95 in 2023 to HK=14.90 in 2024 demonstrates that market liberalization and tourism sector expansion policies have succeeded in generating and maintaining competitive market structures rather than producing concentrated oligopolistic outcomes. The 3.3% increase in competition intensity between 2022 and 2023 coincides with the market entry of Wyndham Bukhara, suggesting that new capacity addition through international chain hotel investment enhanced rather than diminished competitive pressure. The slight moderation in 2024 reflects market maturation and stabilization of competitive relationships following the adjustment period associated with major new entry. Market share distribution analysis across years reveals no emergence of dominant market power. The largest establishment in each year never exceeded 13.1% market share, while the combined market share of the top three establishments ranged from 31-33%, indicating dispersed market structure without oligopolistic concentration. The stability of relative market positions between 2023 and 2024, with top establishments maintaining similar shares, suggests equilibrium dynamics and established competitive patterns. Smaller establishments maintained viable market positions throughout the period, with even the smallest operators retaining 2.5-3.1% market shares, indicating the absence of competitive elimination pressures forcing exit of smaller establishments. 5. Discussion The empirical findings from this competition analysis carry important implications for understanding market structure dynamics in emerging tourism destinations, evaluating liberalization policy effectiveness, and informing regulatory approaches to hospitality sector development. The sustained high Hannah-Kay index values substantially exceeding monopoly