"Lifestyle" hotel projects will continue to flourish as technology's grip on the lodging industry tightens during the next few years.

Participants in the presidents' roundtable held in conjunction with the Metropolitan Memphis Hotel & Lodging Assn.'s annual industry update said Wall Street's rekindled love affair with hotels will continue for the time being, and that will drive the lifestyle and technological revolutions.

Gary Prosterman, president of Development Services Group, said transparency and liquidity of the markets is what's driving the flow of capital into the lodging sector.

"Whether it's the equity side or the debt side, it's become accepted by institutions, so now it becomes transparent like other asset classes," he said. "That is probably what has changed the cap rate fundamentally‚ÄĒmaybe not the level that they're at right now, but somewhere in between where they were and where they are right now."

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