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Performance evaluation of hotel enterprises in Crete: a multi-criteria approach

Karantonis Iraklis, Baourakis, George, Zopounidis Konstantinos

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Year 2016
Type of Item Book Chapter
Bibliographic Citation I. Karantonis, G. Baourakis and C. Zopounidis, "Performance evaluation of hotel enterprises in Crete: a multi-criteria approach" in Factors Affecting Firm Competitiveness and Performance in the Modern Business World. Hershey, Pennsylvania: IGI Global, 2016, ch.5, pp. 129-161. doi: 10.4018/978-1-5225-0843-4.ch005
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The main purpose of this chapter is to evaluate the financial performance of hotel enterprises in Crete from a Multiple-Criteria Decision Making (MCDM) perspective. Crete is one of the most developed tourist destinations in the Mediterranean basin and the hotel sector plays a major role constituting the main driving power towards economic growth. In this study, the multi-criteria method PROMETHEE II, based on outranking relations, will be implemented based on five different criteria. The original financial data are obtained through financial statements for the recession period 2008-2012. According to the availability of data, the sample consists of 194 hotel companies. The present study provides valuable insights for a number of stakeholders in such a dynamic competitive sector.