A katakana noun for where something is located or placed. Common in phrases such as ロケーションがいい, meaning a place has a good location or setting.
This hotel has a good location.
新しい店舗のロケーションを探している。
We are looking for a location for the new store.
This hotel is popular because it has a great location.
The architect built a house that makes the most of the land's setting.
This restaurant is blessed with a location overlooking the sea.