"Positive news regarding global vaccination programs and travel bubble arrangements have substantially improved investor sentiment. However, this positivity is yet to be reflected in the hotel market transaction volume this quarter."

"Regional performance has been tepid due to the absence of big players, but some markets are showing signs of improvement."

"Hotel transaction activity remains muted as investors wait for the market to bottom out."

"Domestic tourism has fueled the improvement in hotel performance across the APAC markets in Q2 2020. However, transactional activity has remained subdued."

"After a record year in 2019, Q1/2020 saw a sharp fall in investment volumes as a result of the COVID-19 outbreak, hitting a post-2013 low."