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Introduction介绍

在过去的十年中，投资管理从婴儿期演变成新的服务经济中增长最快的细分市场之一。这是共同基金，自我导向的退休计划，对冲基金持有的资产的巨大增长明显，金融衍生工具，以及通过养老基金和捐赠基金持有的资产的持续上升。

为什么投资，不只是救？你应该投资，使你的钱增长和盾牌您免受通货膨胀。如果价格上涨百分之四，每年它不会是足够的，如果你的储蓄只能给你百分之三的回报。它留给你百分之一的赤字。我们的想法是，你的投资回报率应该比通货膨胀率更高，让你用一个漂亮的盈余过一段时间。

项目评价的第一个任务是估计投影变量的未来值。
一般地，我们利用关于过去的一个特定的事件来预测相同或类似的事件的可能的未来结果的信息。通常是在投资评估采用的方法是计算基于现有数据的“最佳估计”，并将其作为评价模型的输入。这些单值的估计通常是模型（最可能的结果），平均，或一个保守的估计。

Over the last decade, investment management evolved from infancy into one of the fastest growing segments of the new service economy. This is evident in the tremendous growth of assets held in mutual funds, self-directed retirement programs, hedge funds, and in derivative instruments, as well as by the continued rise in assets held in pension funds and endowments.

Why investing and not just save? You should invest so that your money grows and shields you against rising inflation. If prices rise by four per cent annually it would not be sufficient if your savings only give you a return of three per cent. It leaves you with a deficit of one per cent. The idea is that your rate of return on investments should be greater than the rate of inflation, leaving you with a nice surplus over a period of time.

The first task of project evaluation is to estimate the future values of the projected variables.
Generally, we utilize information regarding a specific event of the past to predict a possible future outcome of the same or similar event. The approach usually employed in investment appraisal is to calculate a “best estimate” based on the available data and use it as an input in the evaluation model. These single-value estimates are usually the model (the most likely outcome), the average, or a conservative estimate.

Whether your money is invested in stocks, bonds, mutual funds or certificates of deposit (CD), the end result is to create wealth for retirement, marriage, college fees, vacations, better standard of living or to just pass on the money to the next generation. Also, it's exciting to review your investment returns and to see how they are accumulating at a faster rate than your salary.

This paper was prepared for examine and assess the economic and market, earnings prospects, earning ratio, and various other indicators and factors to determine suitable investment strategies for hospitality investment. The data behaviour will be analyzed by using variance and expected value to return as a main technique in determining the best decision. On the others hand, the analyzing is aim to minimize the risk.

The purpose of investment appraisal is to assess the economic prospects of a proposed investment project. It is a methodology for calculating the expected return based on cash flow forecasts of many, often inter-related, project variables. Risk caused the uncertainty encompassing these projected variables. The evaluation of project risk therefore depends, on the one hand, on our ability to identify and understand the nature of uncertainty surrounding the key project variables and on the other, on having the tools and methodology to process its risk implications on the return of the project.

References文献

1. HVS Hotel Management-(accessed 16th July 2010).
2. The International Hotel Investment Forum 2011- (accessed 17th July 2010).
3. Kingdom Hotel Investments- (accessed 16th