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Cost-benefit analysis in UK hotels: A hybrid SOCP-MCDM approach
Tan, Yong Park, S. Araujo de Medeiros, A.M. Wanke, P.
Tan, Yong
Park, S.
Araujo de Medeiros, A.M.
Wanke, P.
Publication Date
2025-02
End of Embargo
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Rights
© 2024 Elsevier. Reproduced in accordance with the publisher's self-archiving policy. This manuscript version is made available under the CC-BY-NC-ND 4.0 license.
Peer-Reviewed
Yes
Open Access status
embargoedAccess
Accepted for publication
2024-08-21
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Department
Awarded
Embargo end date
2026-08-30
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Abstract
Performance evaluation has been an important topic of concern for tourism industry practitioners as well as academic researchers, and its investigation in the UK hotel sector is paramount because this industry has been experiencing a higher level of competition. The present study contributes to the previous literature on hotel performance evaluation in general by proposing an innovative hybrid method combining the second-order cone programming (SOCP) method and multi-criteria decision-making (MCDM) method to estimate the performance of the UK hotel sector. The innovation lies in the synergistic combination of SOCP and MCDM methodologies, enabling a comprehensive assessment of hotel performance by managing a non-linear optimisation. Overall, this hybrid method benefits from the ability to be more flexible in addressing complex operational issues and provide more accurate results. This research provides a cost-benefit analysis within the proposed method, suggesting important policy implications in the tourism industry.
Version
Accepted manuscript
Citation
Tan Y, Park S, Araujo de Medeiros AM et al (2025) Cost-benefit analysis in UK hotels: A hybrid SOCP-MCDM approach. Tourism Management. 106: 105034.
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Article
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Notes
The full-text of this article will be released for public view at the end of the publisher embargo on 30 Aug 2026.