Originally Posted by MarkOK

I don't have the homework done, but I think so yes. The matter of the fact is that 5 years ago (don't need to go back 10 years), the Cat1-4 certificates got you options for mid-range full service hotels. Now those options are way less. Personally, there are about five hotels that I have in the past used my Cat1-4 certificates that I no longer can, and I think everyone else has a similar experience. And there are pretty few Cat1-4s coming online worth mentioning -- For a few hot months the Thompson Madrid was a choice (now gone). I guess for me, the only new option that I often use is HC Memphis.