Private Hotel Investment Decision-making Behavior Research

With the development of hotel industry in China, more and more private enterprises are entering the industry, which have become the principal investors. However, the upsurge of hotel investment has led to oversupply in many areas and impacted regional industry's development. Especially for some private hotel investors'blindness in the process of investment decision-making, self-restraint mechanism is not generally effective, national policy constraint mechanism being not quite perfect, thereby some hotels investment did not achieve the desired investment level and there is significant phenomenon that hotel investment efficiency isn't high. Hence how to channel private investors to invest hotels relatively rationally is a major challenge for the future hotel development.The course of hotel investment decision-making behavior is a critical stage which decides the success or failure of the hotel investment and management. It determines the macroeconomic location of the region and the hotel's micro-site, which provide location insurance to achieve good business results; Second, it also determines the size of the investment scale and the investment intensity and the choice of operation mode, reflecting the development scale of the region and the size of space gather and competitiveness, which is a concentrated expression of its operating characteristics; meanwhile, it can, to some extent, reflects hotel operating characteristics and the quality of hotels'product, and shows the form of regional economic development. Therefore, it is necessary to explore their cognitive approach, psychological expectations, influential factors, behavioral characteristics and methods and so on in the process of hotel investment decision-making from the private hotel investor's point of view, making systematical description of private hotel investment decision-making behavior. This paper takes private hotels of Quanzhou for example, does empirical research on high-star (three stars and above) private hotels'investment decision-making behavior, tries to build major investment decision-making behavior mode of private hotels, makes effectively behavior description, discovers problems, analyzes problems, and provides theoretical basis and behavior guide for the hotel investors, so as to supply rational proposals for the local government to conduct rational investment.This paper is divided into five chapters. The first chapter is introduction, setting forth the research background, research significance, research ideas and methods; Chapter Two is study summary and theoretical basis; Chapter Three describes the status quo of the private hotel investment development of Quanzhou; Chapter Four is interview research and questionnaire analysis; Chapter Five researches on private hotels investment decision-making behavior of Quanzhou.