In this book, the impact of modern social media on the development of management system in the hospitality and tourism industry is examined. The present research project was elaborated in two subsequent phases. During the first research phase the localization of the apparatus, methodology, study design, questionnaire and methodology for the Russian version of the research project were carried out. That was done based on the courtesy materials recently completed project by a Center for Hospitality Research Cornel the United States. The second project phase was aimed at identification of the specifics of the Russian consumers perception towards the use of social media for planning their trips.