Beauty is a physical quality bestowed upon something based on subjective criteria.
Nothing is beautiful to everyone. Each person finds different things beautiful. I for instance love the ocean, sunsets and the night sky. However some other person won't think the same way because they're frightened of the ocean, sunsets make them feel sad, or because the night sky makes them feel insignificant.
As for beauty having to do with something's inherent goodness, I'll have to disagree. Using the same examples I used earlier, being forces of nature, they have no inherent goodness. Nature is a neutral force, lacking good or evil.
There is no objectivity to beauty, as there is no objectivity to a lot of the things humans do. I would recommend not trying to objectify it. Every time I've tried, I nearly went mad.