parapharse: The first element of the environment to be examined is politics. This is a component that can largely impact the company's development. The company's portfolio is concentrated in hotels and resorts as part of the hospitality segment. Politics matters or conflicts such as general inconformity that led to public manifestations can negatively impact some areas' reputation and lead to a lower flow of visitors to public establishments in those areas. Terrorist attacks or wars, on a wider scale, can impact the touristic movement for an entire country or region, and hospitality businesses are among the first to be affected. Political stability is crucial for hotels and resorts, tourists generally do not want to visit areas that can be insecure. Politic environment can also be beneficial for the company when government act towards the development of the tourism and facilitate the industry growth. Governments support, for example better tax policies, is a great ally for the expansion and better operation of the company