A development planner for Resort Investment

Ren-Jye Dzeng*, N. F. Pan, H. Y. Lee

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

A resort is consisted of amenities and supporting resources (e.g., infrastructure). Some popular amenities alone may attract tourists while others may only attract tourists when they are simultaneously accessible. The inter-dependences among the amenities and supporting resources make the development problem difficult for human experts to optimize. This research presents a new decision-support model, called Resort Investment Planner (RIP), by integrating Monte Carlo simulation and polyploidy genetic algorithms (GAs) to optimize the development levels of resort amenities in each project phase. An experiment with a real project case in Taiwan showed that the development plan produced with RIP took less time (62% faster) with higher net present value (30% higher) than the averages of human experts.

Original languageEnglish
Title of host publicationProceedings of the 6th International Conference on Engineering Computational Technology
StatePublished - 1 Dec 2008
Event6th International Conference on Engineering Computational Technology, ECT 2008 - Athens, Greece
Duration: 2 Sep 20085 Sep 2008

Publication series

NameProceedings of the 6th International Conference on Engineering Computational Technology

Conference

Conference6th International Conference on Engineering Computational Technology, ECT 2008
CountryGreece
CityAthens
Period2/09/085/09/08

Keywords

  • Genetic algorithm
  • Hybrid system
  • Resort development
  • Simulation

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