The lodging industry is at the bottom of the cycle with nowhere else to go but up, says Jim Francis, president and CEO of Chesapeake Lodging Trust. That is why the
company is in acquisition mode, and it is finding more opportunities than it had expected. Thus far, it has closed on a few deals and has several either in the LOI stage or under negotiation. "We look at this time as an opportunity to buy in at the bottom of the cycle, which we think will be strong in the next five years," he says.