Only superusers can work with locations.
If you want to change some attributes of a location and there are inventory hosts assigned to that location, then all of those hosts will be affected by the change.
To update the attributes of a location:
Go to the Settings page and click on Locations which is under Organization. Then find the location in the table and click the pencil icon next it.
Make any desired changes and click Save.
Any hosts associated with that location will automatically be updated.
Note: If you actually physically moved all of the hosts in one location to another location, this would be a quick way to update all of those hosts.