The lodging industry has only halfway recovered from its falloff during the Great Recession, said Monty Bennett, founder and CEO of Ashford Hospitality Trust, at REITWorld 2012: NAREIT's Annual Convention for All Things REIT. "Since the falloff was so deep, halfway back is not that great. It's not bad, but it’s not great. So, we've still got a lot of running room in this recovery."

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