... as a theoretical exercise?

Yeah, it's a good question.

I think the answer to that is really unpacking the definition of motivation, and that could be subjective for each individual owner and operator.

That said, some of the drivers of real motivation, in my view, are capital pressure from your LPs or outside investors to return that capital.

In a post-COVID environment, a lot of those funds have been kicked down the can, and people want their money back candidly.

Um, CapEx pressure from brands that are commanding the owners and operators to reinvest capital into their assets.

And candidly, there's not much, if any, ROI on those renovation jobs today.

Are there other markets that you're seeing that people are probably not focusing on like they should at this point of time?