Hospitality real estate sales continued to be light in the first half of 2017 compared to the first half of 2016. You might call this the hospitality hangover, as investors spent $1.6 billion on hospitality product in 2016 and now appear to be in wait-and-see mode in 2017. Visitor volume in the first four months of 2017 was 14.1 million visitors, just a tad shy of the 14.3 million visitors to Las Vegas in the first four months of 2016. Gaming revenue, on the other hand, was stronger in 2017 than 2016, with $3.37 million in the first four months of 2017 compared to $3.22 million in the first four months of 2016. The average daily room rate (ADR) and revenue per available room (RevPAR) were also up year-over-year. Room inventory did not increase in any meaningful way so far in 2017, and it should remain stable for the remainder of the year.