I think they are going to sell off a number of the assets. The real plumb here is the Conrad brand, which has much more cache in Asia. I think that is what they want to build out.
I think they are going to sell off a number of the assets.
The public builders will say, 'Where are growth opportunities?' and they'll head offshore. But then those markets will be more sophisticated.
They're going to pump some capital in it and try to make it work.
