SİSTEMATİK RİSKİN KONAKLAMA İŞLETMELERİNİN KARLILIK ORANLARI ÜZERİNDEKİ ETKİSİNİN ÖLÇÜLMESİ (MARMARİS ALTINYUNUS TURİSTİK TESİSLERİ A.Ş ÖRNEĞİ)
As is known, the risk of financial sense is defined as the difference between expected return and actual return. The part of risk that cannot be mitigated by diversification is evaluated as part of systematic risk and there is a focus in this area. These positive impacts of systematic risk factors, known to have positive impacts on the profitability of firms. if managed well the systematic risk factors vary on the basis of the sector and the company. Although there are many components, it is possible to analyze and evaluate the total effect of interest rate, inflation and exchange rate, which are the major systematic risk factors with the help of the beta coefficient. In this study, the effect of systematic risk on profitability have been analyzed and evaluated on the financial statements of  Marmaris Altinyunus Touristic Facilities Inc., which is a public limited company and one of the hospitality industry establishments in Marmaris, Turkey. The application side of the study comprises of the regression and correlation analyses between the beta coefficients and the profitability ratios obtained from sample data taken from the entity's financial statements.
Hotel Value Trends
Analysts have worked to model the relationship of supply and demand that creates hotel value. The Hotel Valuation Index, developed by HVS International, is a sophisticated model that now comprises 46 U.S. markets. In the aabsence of major economic disruptions, hotel demand grows at a relatively steady rate. Consequently, supply additions have a measurable effect on lodging-property values. Supply additions occur principally when developers and investors perceive that building new rooms is less expensive than purchasing existing properties. In recent years investors have been able to purchase hotels at prices below replacement value. The HVI shows that that phenomenon is ending, as the value of existing rooms will exceed replacement cost for most market segments. After ten years of tracking major U.S. markets, HVS can project future valuation levels, based on expected supply trends and a relatively stable economy.
Aristocratic Century: The sinews of power: political
In his excellent book on the Secretaries of State, Mark Thomson offered ‘the paradox of continuing domination of the aristocracy and the simultaneous insignificance of the House of Lords, per se ’. It is true that, by the beginning of the eighteenth century, the supremacy of the House of Commons in financial matters was a wellestablished convention. The claims of the Commons to an undisputed control over money matters, which had been urged before the Civil War, were resumed immediately after the Restoration and a protracted dispute with the House of Lords began. In 1661 the Lords resolved that there were no precedents in history for this new claim by the House of Commons. In 1671, the Commons retorted that taxation ought not to be questioned by the Lords and in 1678 they reiterated that supply was ‘the undoubted and sole right of the Commons’ and ‘ought not to be changed or altered by the House of Lords’. The Lords' attempt in 1692 to assess their own taxes was also abandoned, though they retired under cover of a rather insubstantial smoke-screen that they maintained their power of amendment to be a ‘fundamental, inherent and undoubted right from which their lordships can never depart’. That established, they departed. Geoffrey Holmes quotes a nice example from 1702 when the bishop of Carlisle found himself the only peer answering to a money bill, ‘no other lord in the House regarded what was doing, this being only (pro forma) to preserve a seeming right to dissent from, or amend, any part of a money bill’.