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Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya

Yıl 2015, Cilt: 2 Sayı: 1, 87 - 103, 01.02.2015

Öz

Real Estate Investment Trusts are capital market entities which can invest in real estates, real estate projects, chattel reals, capital market instruments and other capital market instruments, and can enter into ordinary partnership so as to realize certain projects. Them tourism sector, which is an important field in terms of Turkish economy, cannot be able to make any expected progress due to economic crisis encountered at intervals. Today, though the accommodation establishmentstry to put more contemporary and glorified facilities into operation by keeping pace with the developing world, they have divergent problems owing to financial difficulties. REITs appears to be a solution in settling down the financial difficulty being encountered. When the literature related to REITs is reviewed, it is seen that not many researches have been conducted in this field in Turkey. In this context, this study is of great importance in terms of its contribution to the literature. This study aims to constitute a point of view over REITs for the accommodation establishments operating in tourism sector in Alanya, to measure the tendency of business enterprises and to present whether they contrive to foster their business enterprises in the form of REITs. This study is conducted through the descriptive survey model. 

Kaynakça

  • AKKAYA G.C., Kutay N., Tükenmez M. (2005) Real Estate Investment Trusts and Fundamentals of Real Estate Investment: A Case of Turkey. Celal Bayar Üniversitesi İ.İ.B.F. Yönetim ve Ekonomi Dergisi 12:1, 39- 46
  • ALANYA TİCARET VE SANAYİ ODASI. (2010) Retrieved from http://www.altso.org.tr/
  • ALP A., Yılmaz U. (2000) Gayrimenkul Finansmanı ve Değerlemesi. İstanbul Menkul Kıymetler Borsası: İstanbul.
  • ARMADA FUND MANAGEMENT. 2012.Falling Bond Yields Will Supercharge REIT Earnings. Retrieved http://www.chilliwebsites.com/sitefiles/6809/File/Newsletter%202012%2007.pdf from
  • BRADY P.J., Conlin ME.( 2004) The Performance of REIT- Owned Properties and the Impact of REIT Market Power. Journal of Real Estate Finance and Economics 28:1, 81- 95
  • CAMPBELL RD., Sirmans CF. (2002) Policy Implications of Structural Options in the Development of Real Estate Investment Trusts in Europe. Journal of Property Investment and Finance 20:4, 388- 405
  • CAPITAL RESEARCH. (2010) Real Estate Investment Trusts: Is The Philippines Ready For It? Retrieved from<http://www.firstmetro.com.ph/assets/publications/REIT%20%20FINAL%20INDUSTRY %20REPORT%20VERSION.pdf>
  • COŞKUN Y. (2010) An Analysis of The Strengths and Weaknesses of The Turkish Real Estate Market.ERES Conference, Milano: Italy.
  • ÇOLAK A.E., Alıcı A. (2001) Gayrimenkul Yatırım Ortaklıkları A’ dan Z’ ye, Tşof Plaka Matbaa: Ankara.
  • DELOITTE. (2010) Real Estate Industry Report.Retrieved from http://www.invest.gov.tr/enS/infocenter/publications/Documents/REAL.ESTATE.INDUSTRY. pdf
  • GÖKTEPE H. (2003) ABD ve Türk Hukuklarında Gayrimenkul Yatırım Ortaklıkları (Unpublished doctoral dissertation). University of Anadolu: Eskişehir.
  • GU Z., Kim H. 2003. An Examinatıon Of The Determinants Of Hotel Reits’ Unsystematic Risk.Journal of Hospitality & Tourism Research 27:2, 166-184
  • GYODER. (2009) Retrieved from http://www.gyoder.org.tr/BrowseContent.aspx?MainCatID=7&SubCatID=6&AspxAutoDetect CookieSupport=1
  • INTERNATıONAL Labour Organization (ILO). (2010) Developments And Challenges İn The Hospitality And Tourism Sector, Retrieved from http://www.ilo.org/wcmsp5/groups/public/@ed_norm/@relconf/documents/meetingdocument/ wcms_166938.pdf
  • INVESTOPEDIA. (2012)3 Types Of REITs For Your Portfolio. Retrieved from http://www.investopedia.com/articles/mortgages-real-estate/12/three-types-reits-for-your- portfolio.asp#ixzz2LLnPgLYZ
  • JACKSON LA. (2008) The Structure and Performance of US Hotel Real Estate Investment Trusts. Journal of Retail and Leisure Property 7:4, 275- 290
  • JUILLET F. 2012. Analysis Of The Real Estate Investment Trust (REIT) Industry.Retrieved from http://scholarsarchive.jwu.edu/mba_student/6
  • KAY SR., Lau D. (2007) Hotel REITs: Challenges and Opportunities. Retrieved from http://www.asialaw.com/Article/1970974/Search/Results/Hotel-REITs-Challenges-and- Opportunities.html?Keywords=reit
  • KIM H., Gu Z., Mattila AS. (2002) Hotel Real Estate Investment Trusts’ Risk Features and Beta Determinants. Journal of Hospitality and Tourism Research 26:2, 138- 154
  • MADANOĞLU M., Upneja A. (2008)Hotel REITs vs. Hotel C-Corporations: Who Has An Edge?International CHRIE Conference, Atlanta, Georgia, U.S.A.
  • MARTI GYO. (2010a) Gayrimenkul Yatırım Ortaklıkları Genel Bilgi. Retrieved from http://www.martigyo.com.tr/gayrimenkul_yatirim_ortakliklari_genel_bilgi.asp
  • MARTI GYO. (2010b) Türkiye'de Gayrimenkul Sektörü. Retrieved from http://www.martigyo.com.tr/turkiyede_gayrimenkul_sektoru.asp
  • MERIDIA CAPITAL. (2007) Real Estate Investment Trusts-Still A Long Way To Go. Retrieved from http://www.meridiacapital.com/files/2.%20REITs%20_March%2007_.pdf
  • NİCHOLS M., Boutell M. (2005) The Introduction of REITs and Their Impact on the Leisure Sector. Journal of Retail and Leisure Property 4:4, 295- 300
  • PATEL K. 2006. Real Estate Investment Trusts (REIT) within Hospitality Industry. Retrieved from http://www.4hoteliers.com/features/article/1297
  • PRICEWATERHOUSE COOPERS (PWC). (2012) Hospitality Insights From The Indian Ceos’ Desk. Retrieved from-the-indian-ceo-desk.pdf
  • RUSHMORE S. (2008) Hotel Investment Handbook. Retrieved from http://www.hvs.com/emails/rushletter/Hotel%20Investments%20Handbook/Hotel%20Investme nts%20Handbook%20-%20Chapters19-21.pdf
  • REITS WEEK. (2012)Hospitality REITs. Retrieved from http://www.reitsweek.com/2012/12/hospitality-reits.html
  • SECURITIES AND FUTURES COMMİSSİON (SFC). (2003) Code on Real Estate Investment Trusts. Research and Library Services Division 3:4, 1- 5
  • SINGH AJ. (2002) The Evolution Of Innovative Debt and Equity Structures: The Securitisation Of US Lodging Real Estate Finance. Briefings in Real Estate Finance 2:2, 139–161
  • SPK Yatırımcı Bilgilendirme Kitapçıkları- 5. (2010) Gayrimenkul Yatırım Ortaklıkları. Retrieved from http://www.spk.gov.tr/displayfile.aspx?action=displayfile&pageid=72&fn=72.pdf
  • SUSAR Ö. 2004. Tüm Yönleriyle Gayrimenkul Yatırım Ortaklıkları. Adalet Yayınevi: Ankara.
  • ŞARKAYA C. (2007) Gayrimenkul Yatırım Ortaklıkları Üzerine Bir İnceleme ve Türkiye’ye İlişkin Sektör Analizi. Sosyal Bilimler Dergisi 1: 175-190
  • TANG H., Jang S. (2008) The Profitability Impact of REIT Requirements: A Comparative Analysis of Hotel REITS and Hotel C-Corporations. International Journal of Hospitality Management 27: 614- 622
  • TEKER MB. (2000) Sermaye Piyasası Araçları Yoluyla Gayrimenkul Finansmanı ve Yatırımı. Pelin Ofset Ltd. Şti.: Ankara.
  • VAN KTK. (2010) Policy Recommendations To Develop Real Estate Investment Trusts (Reits) In Viet Nam. KDI School of Public Policy and Management, Master of Public Policy.
  • YAFFA S. (2012)Hotel REITs: Particularly Sensitive To Economic Concerns. Retrieved from http://seekingalpha.com/article/916751-hotel-reits-particularly-sensitive-to-economic-concerns
  • YEO C. (2012) Understanding Singapore REITS – REIT Categories. Retrieved from http://www.propwise.sg/understanding-singapore-reits-%E2%80%93-reit-categories/
  • YETGİN F. (2002) Gayrimenkul Yatırım Ortaklıklarının Performans Değerlemesi ve Türkiye Uygulaması. İstanbul Menkul Kıymetler Borsası: İstanbul.

Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya

Yıl 2015, Cilt: 2 Sayı: 1, 87 - 103, 01.02.2015

Öz

Kaynakça

  • AKKAYA G.C., Kutay N., Tükenmez M. (2005) Real Estate Investment Trusts and Fundamentals of Real Estate Investment: A Case of Turkey. Celal Bayar Üniversitesi İ.İ.B.F. Yönetim ve Ekonomi Dergisi 12:1, 39- 46
  • ALANYA TİCARET VE SANAYİ ODASI. (2010) Retrieved from http://www.altso.org.tr/
  • ALP A., Yılmaz U. (2000) Gayrimenkul Finansmanı ve Değerlemesi. İstanbul Menkul Kıymetler Borsası: İstanbul.
  • ARMADA FUND MANAGEMENT. 2012.Falling Bond Yields Will Supercharge REIT Earnings. Retrieved http://www.chilliwebsites.com/sitefiles/6809/File/Newsletter%202012%2007.pdf from
  • BRADY P.J., Conlin ME.( 2004) The Performance of REIT- Owned Properties and the Impact of REIT Market Power. Journal of Real Estate Finance and Economics 28:1, 81- 95
  • CAMPBELL RD., Sirmans CF. (2002) Policy Implications of Structural Options in the Development of Real Estate Investment Trusts in Europe. Journal of Property Investment and Finance 20:4, 388- 405
  • CAPITAL RESEARCH. (2010) Real Estate Investment Trusts: Is The Philippines Ready For It? Retrieved from<http://www.firstmetro.com.ph/assets/publications/REIT%20%20FINAL%20INDUSTRY %20REPORT%20VERSION.pdf>
  • COŞKUN Y. (2010) An Analysis of The Strengths and Weaknesses of The Turkish Real Estate Market.ERES Conference, Milano: Italy.
  • ÇOLAK A.E., Alıcı A. (2001) Gayrimenkul Yatırım Ortaklıkları A’ dan Z’ ye, Tşof Plaka Matbaa: Ankara.
  • DELOITTE. (2010) Real Estate Industry Report.Retrieved from http://www.invest.gov.tr/enS/infocenter/publications/Documents/REAL.ESTATE.INDUSTRY. pdf
  • GÖKTEPE H. (2003) ABD ve Türk Hukuklarında Gayrimenkul Yatırım Ortaklıkları (Unpublished doctoral dissertation). University of Anadolu: Eskişehir.
  • GU Z., Kim H. 2003. An Examinatıon Of The Determinants Of Hotel Reits’ Unsystematic Risk.Journal of Hospitality & Tourism Research 27:2, 166-184
  • GYODER. (2009) Retrieved from http://www.gyoder.org.tr/BrowseContent.aspx?MainCatID=7&SubCatID=6&AspxAutoDetect CookieSupport=1
  • INTERNATıONAL Labour Organization (ILO). (2010) Developments And Challenges İn The Hospitality And Tourism Sector, Retrieved from http://www.ilo.org/wcmsp5/groups/public/@ed_norm/@relconf/documents/meetingdocument/ wcms_166938.pdf
  • INVESTOPEDIA. (2012)3 Types Of REITs For Your Portfolio. Retrieved from http://www.investopedia.com/articles/mortgages-real-estate/12/three-types-reits-for-your- portfolio.asp#ixzz2LLnPgLYZ
  • JACKSON LA. (2008) The Structure and Performance of US Hotel Real Estate Investment Trusts. Journal of Retail and Leisure Property 7:4, 275- 290
  • JUILLET F. 2012. Analysis Of The Real Estate Investment Trust (REIT) Industry.Retrieved from http://scholarsarchive.jwu.edu/mba_student/6
  • KAY SR., Lau D. (2007) Hotel REITs: Challenges and Opportunities. Retrieved from http://www.asialaw.com/Article/1970974/Search/Results/Hotel-REITs-Challenges-and- Opportunities.html?Keywords=reit
  • KIM H., Gu Z., Mattila AS. (2002) Hotel Real Estate Investment Trusts’ Risk Features and Beta Determinants. Journal of Hospitality and Tourism Research 26:2, 138- 154
  • MADANOĞLU M., Upneja A. (2008)Hotel REITs vs. Hotel C-Corporations: Who Has An Edge?International CHRIE Conference, Atlanta, Georgia, U.S.A.
  • MARTI GYO. (2010a) Gayrimenkul Yatırım Ortaklıkları Genel Bilgi. Retrieved from http://www.martigyo.com.tr/gayrimenkul_yatirim_ortakliklari_genel_bilgi.asp
  • MARTI GYO. (2010b) Türkiye'de Gayrimenkul Sektörü. Retrieved from http://www.martigyo.com.tr/turkiyede_gayrimenkul_sektoru.asp
  • MERIDIA CAPITAL. (2007) Real Estate Investment Trusts-Still A Long Way To Go. Retrieved from http://www.meridiacapital.com/files/2.%20REITs%20_March%2007_.pdf
  • NİCHOLS M., Boutell M. (2005) The Introduction of REITs and Their Impact on the Leisure Sector. Journal of Retail and Leisure Property 4:4, 295- 300
  • PATEL K. 2006. Real Estate Investment Trusts (REIT) within Hospitality Industry. Retrieved from http://www.4hoteliers.com/features/article/1297
  • PRICEWATERHOUSE COOPERS (PWC). (2012) Hospitality Insights From The Indian Ceos’ Desk. Retrieved from-the-indian-ceo-desk.pdf
  • RUSHMORE S. (2008) Hotel Investment Handbook. Retrieved from http://www.hvs.com/emails/rushletter/Hotel%20Investments%20Handbook/Hotel%20Investme nts%20Handbook%20-%20Chapters19-21.pdf
  • REITS WEEK. (2012)Hospitality REITs. Retrieved from http://www.reitsweek.com/2012/12/hospitality-reits.html
  • SECURITIES AND FUTURES COMMİSSİON (SFC). (2003) Code on Real Estate Investment Trusts. Research and Library Services Division 3:4, 1- 5
  • SINGH AJ. (2002) The Evolution Of Innovative Debt and Equity Structures: The Securitisation Of US Lodging Real Estate Finance. Briefings in Real Estate Finance 2:2, 139–161
  • SPK Yatırımcı Bilgilendirme Kitapçıkları- 5. (2010) Gayrimenkul Yatırım Ortaklıkları. Retrieved from http://www.spk.gov.tr/displayfile.aspx?action=displayfile&pageid=72&fn=72.pdf
  • SUSAR Ö. 2004. Tüm Yönleriyle Gayrimenkul Yatırım Ortaklıkları. Adalet Yayınevi: Ankara.
  • ŞARKAYA C. (2007) Gayrimenkul Yatırım Ortaklıkları Üzerine Bir İnceleme ve Türkiye’ye İlişkin Sektör Analizi. Sosyal Bilimler Dergisi 1: 175-190
  • TANG H., Jang S. (2008) The Profitability Impact of REIT Requirements: A Comparative Analysis of Hotel REITS and Hotel C-Corporations. International Journal of Hospitality Management 27: 614- 622
  • TEKER MB. (2000) Sermaye Piyasası Araçları Yoluyla Gayrimenkul Finansmanı ve Yatırımı. Pelin Ofset Ltd. Şti.: Ankara.
  • VAN KTK. (2010) Policy Recommendations To Develop Real Estate Investment Trusts (Reits) In Viet Nam. KDI School of Public Policy and Management, Master of Public Policy.
  • YAFFA S. (2012)Hotel REITs: Particularly Sensitive To Economic Concerns. Retrieved from http://seekingalpha.com/article/916751-hotel-reits-particularly-sensitive-to-economic-concerns
  • YEO C. (2012) Understanding Singapore REITS – REIT Categories. Retrieved from http://www.propwise.sg/understanding-singapore-reits-%E2%80%93-reit-categories/
  • YETGİN F. (2002) Gayrimenkul Yatırım Ortaklıklarının Performans Değerlemesi ve Türkiye Uygulaması. İstanbul Menkul Kıymetler Borsası: İstanbul.
Toplam 39 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Makaleler
Yazarlar

Süleyman Uyar Bu kişi benim

Esin Yelgen Bu kişi benim

Yayımlanma Tarihi 1 Şubat 2015
Yayımlandığı Sayı Yıl 2015 Cilt: 2 Sayı: 1

Kaynak Göster

APA Uyar, S., & Yelgen, E. (2015). Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 2(1), 87-103.
AMA Uyar S, Yelgen E. Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya. ADUSOBIED. Şubat 2015;2(1):87-103.
Chicago Uyar, Süleyman, ve Esin Yelgen. “Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya”. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 2, sy. 1 (Şubat 2015): 87-103.
EndNote Uyar S, Yelgen E (01 Şubat 2015) Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 2 1 87–103.
IEEE S. Uyar ve E. Yelgen, “Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya”, ADUSOBIED, c. 2, sy. 1, ss. 87–103, 2015.
ISNAD Uyar, Süleyman - Yelgen, Esin. “Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya”. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi 2/1 (Şubat 2015), 87-103.
JAMA Uyar S, Yelgen E. Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya. ADUSOBIED. 2015;2:87–103.
MLA Uyar, Süleyman ve Esin Yelgen. “Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya”. Adnan Menderes Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, c. 2, sy. 1, 2015, ss. 87-103.
Vancouver Uyar S, Yelgen E. Real Estate Investment Trusts In Accommodation Establishments: A Research In Alanya. ADUSOBIED. 2015;2(1):87-103.

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