Methods Used in Selecting Location in Hotel Investment Projects

Abstract

Projects in accommodation enterprises need to be planned very attentively. A great number of criteria used in selecting facility location contradict each other in some cases. Such criteria must be used in a significant way, due to the fact that difficulties can be encountered in making decisions in this complex process. "Multi-Criteria Decision Making" (MCDM) methods have been developed to help individuals, businesses, and institutions to make investment decisions and to decide more accurate and profitable investments. AHP, TOPSIS, VIKOR, PHOMETHEE, ELECTRE are some of these methods. Via these methods developed, investment decisions are made by evaluating complex data with many alternatives objectively. This may lead to more accurate investment decisions made by entrepreneurs. With this study, we have dwelled on the methods used by investors in location as well as MCDM methods, which will bring about solutions to qualitative and quantitative problems, which need to be measured and discussed in details.