The article contains analysis of the process of forming the foreign market entry strategy, the factors that influence its development, and the systematization of strategic alternatives for entry strategy (indirect export, direct exports, licensing, joint ventures, ownership, direct investment). The complex of existing instruments of choosing the best strategic alternative for a particular company was researched. It was found out that the available tools are more suitable for manufacturing companies and do not take into account the specificity of services. In particular, such characteristics of services as intangibility and inability of their storage limit the use of strategic alternatives related to exporting. A possibility of adaptation the matrix for selection the strategy of entering the foreign market for service industries, especially for the hotel industry, was proposed. The application of the matrix for selection the entry strategy for a specific company from the UAE was illustrated.