Acquisitions of hotel assets by REITs are boosting
transaction volume in the hotel market and injecting needed capital into the industry. A flurry of activity has helped the industry, albeit not in a traditional form. "March 2010 was the first month fundamentals started to improve," said Arthur Adler, CEO for the Americas division of Jones Lang LaSalle Hotels. "Investors who held back at the starting gate could have more confidence and therefore can underwrite and be more aggressive in terms of pricing. Owners are figuring out what their properties are worth, and we're seeing more assets trade."