Open AccessA FRAMEWORK FOR THE EVALUATION OF HOTEL PROPERTY DEVELOPMENT PROJECTS
Author(s) -
Gabrijela Popović,
Dragiša Stanujkić,
Darjan Karabašević
Publication year - 2019
Publication title -
international journal of strategic property management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.43
H-Index - 30
eISSN - 1648-9179
pISSN - 1648-715X
DOI - 10.3846/ijspm.2019.7435
Subject(s) - decision maker , selection (genetic algorithm) , computer science , matching (statistics) , compensation (psychology) , preference , key (lock) , process (computing) , investment (military) , property (philosophy) , operations research , process management , business , artificial intelligence , mathematics , economics , microeconomics , statistics , psychology , philosophy , computer security , epistemology , politics , political science , psychoanalysis , law , operating system
The main goal of the manuscript is to propose the framework that would facilitate the selection of hotel construction projects for an investment based on the application of the WS PLP method. The key reason why the WS PLP method is used is reflected in its ability to more accurately express decision-makers’ stand regarding the desired preference ratings of criteria by incorporating ppr values into the decision-making process. Also, the WS PLP method implies the introduction of the compensation coefficient, which provides a possibility of the decision-maker’s selection between an alternative that has the best matching with the preferred performance ratings expressed through ppr values and the one that has the best overall performance ratings. The applicability and effectiveness of the proposed framework are demonstrated through a real case study on the five types of the hotels that should be constructed on Kopaonik Mountain in Serbia.
Accelerating Research
Robert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom
Address
John Eccles HouseRobert Robinson Avenue,
Oxford Science Park, Oxford
OX4 4GP, United Kingdom