The survey includes 133 single asset sale transactions that totaled roughly $5.3 billion and included approximately 21,200 hotel rooms with an average sale price per room of $248,000.

Underscored by the strength of room rates, copious amounts of leisure patronage and rebounding group business, the pace of travel recovery has been robust.

The survey includes 127 single asset sale transactions over $10 million.

Today there are two perspectives from which to dissect the near-term future.

Demand drivers are anticipated to change during the second half of this year as post Labor Day corporate travel should increase, and with schools reopening leisure travel will slow down.

The spring season of 2021 has sparked optimism in the overall economy and hospitality industry as compared to this time last year.

Despite the plethora of bad news there are also several reasons for optimism.

Long term opportunistic investors that bet big, at the right basis, and early in the cycle will likely reap tremendous financial rewards.