Hotel operating fundamentals are still strong, but capital markets have been far less stable this year. Hotel investment has been cautious this year, with U.S. hotel acquisitions totaling $6.5 billion in Q2—down 50 percent year-over-year. The first half of 2016 marks a 55 percent decline from the first half of 2015. Single-asset purchases were down, but less severe: In 2016, $11 billion has been invested so far, down 33 percent from last year. There’s also some good news for the rest of the year—Q3 is looking far more promising if for no other reason than Marriott’s $12 billion acquisition of Starwood Hotels & Resorts. To read more, click here.