Regardless of which sector it is, investment decisions are one of the most important decisions to be taken in the process of business activity. The main goal of all investors is to recover the amount of investment they have paid as soon as possible, so they want to move towards the most efficient investments for themselves. The tourism sector is also one of the most invested sectors among the countries in terms of the positive economic returns it provides. However, as the rate of return is long and the risks are high, tourism investment projects should be carried out in a diligent manner. That’s why; during a tourism project development process; the factors that affect investment decisions should be considered. These factors include demand, resources of the region, availability and feasibility studies. This study aims to analyze the factors which are effective on investment decisions of hotel establishments and site of establishment choice; and to analyze the importance of agglomeration effect among those factors. Regarding to this aim; an interview has been completed with five investors of four and five star hotels in İstanbul and it has been tried to learn which factors they take into consideration during their investment decisions. According to the results; it has been found that return of investment pace and aim of completing the niche in the market are the most selected motives for investment in hotel business. Also; it has been seen that the agglomeration effect and legal factors are the most important factors among the factors effecting the site of establishment choice, and economical factors are following.
Agglomeration, Istanbul, Site of Establishment, Hotel Investment
| Author : | Ebru ULUCAN -İsmail KIZILIRMAK |
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| Number of pages: | 1567-1580 |
| DOI: | http://dx.doi.org/10.29228/TurkishStudies.36933 |
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