General background and current trends of hotel industry
Characteristic of hotel industry
The hospitality industry consists of companies within the food services, accommodations, recreation, and entertainment sectors.
The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such
II. The Definition of VaR
Value at Risk (VaR)
Maximum loss not exceeded with a given
probability defined as the confidence level,
over a given period of time.
III. Interpretation of VaR
The Question Being Asked in VaR
“What loss level is such that we are X %
confident it will not be exceeded
in N business days?”
Confidence Level
Probability that Por
generated from room rentals and the sale of food and beverages at these hotels generated approximately 64 percent of the company's total revenue in 1997, with the remaining 36 percent coming from its contract management services. Hotel divisions range from Marriott Hotels & Resorts in the luxury segment to the moderately priced Courtyard, and the economy Fairfield Inn. Residence Inns and Marriott
Ⅱ. General Information and Structure of Program Budget System
Government innovation is a global trend. The crux of the government innovation is said that the importance of fiscal reform that has emerged as an important issue than ever before. Effectiveness issue than ev, fiscal reform, transparency, equity and accountability should aim to improve.
Current central government agencies a