"We're at the point where we would be very comfortable investing in assets," said Ed Walter, chairman and CEO of the lodging REIT Host Hotels & Resorts. He said the REIT probably will start acquiring hotel properties in the next 12 to 24 months. Some large hotel portfolios might come onto the market, but Host Hotels focuses on building its portfolio one or two assets at a time, Walter said. Additional properties will come onto the market as more owners have to decide whether to invest new capital in existing assets because cash flow no longer covers the debt service, he said.

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