The present study is believed to be the first to apply the VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) methodology to perform a benchmarking analysis in the hotel industry. This study used VIKOR to measure the performance of 26 international hotels to identify the benchmarking enterprise and to analyse strategies for performing a benchmark. During the calculation procedure, the fuzzy analytic hierarchy process (AHP) was applied to calculate the weights of the individual performance criteria using expert feedback. The findings suggest that the VIKOR technique integrating fuzzy AHP can be utilized to overcome the small shortcomings of stochastic frontier analysis and data envelopment analysis and that the technique is a feasible tool for benchmarking analysis.
