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Performance Evaluation of Hotel Enterprises in Crete: A Multi-Criteria Approach
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Author(s): Iraklis Karantonis (Mediterranean Agronomic Institute of Chania, Greece), George Baourakis (Mediterranean Agronomic Institute of Chania, Greece)and Constantin Zopounidis (School of Production Engineering and Management, Technical University of Crete, Greece & Audencia Business School, France)
Copyright: 2017
Pages: 33
Source title:
Factors Affecting Firm Competitiveness and Performance in the Modern Business World
Source Author(s)/Editor(s): Aspasia Vlachvei (Western Macedonia University of Applied Sciences, Greece), Ourania Notta (Alexander Technological Educational Institute of Thessaloniki, Greece), Kostas Karantininis (Swedish University of Agricultural Sciences, Sweden)and Nicholas Tsounis (Western Macedonia University of Applied Sciences, Greece)
DOI: 10.4018/978-1-5225-0843-4.ch005
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Abstract
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.
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