Investors, buyers, bankers, appraisers, and owners gathered at the Hunter Hotel Conference in Atlanta, Georgia, March 22–24, 2017. McKenna Luke represented HVS at the Hotel Values in a Changing Market panel, where discussions included the cautiously optimistic outlook, areas of investment opportunity, impacts of interest rates and new supply on values, and growing trends in Millennial-style travel. Investment opportunities in primary markets are reported to be highly competitive, especially with foreign investors and high-net worth individuals remaining active. In 2016, these buyers made up 36% to 43% of transaction volume; the outlook for this year is expected to be similar. However, certain secondary and tertiary markets are still providing opportunities for newer investors, or for investors with more-stringent return requirements, to benefit from RevPAR growth or turnaround opportunities following a renovation or gains in operational efficiency. Some newer hospitality investment platforms, including “poshtels” (posh hostels), were even touted to attract higher-earning Millennials.