In the weeks leading into a conference like Hunter, I tend to have the same conversations with owners and investors. We talk about demand, we talk about supply, and we talk about the usual forward-looking indicators. But it does not take long before the real topic comes up. It is not occupancy. It is not even revenue. It is margins.In the weeks leading into a conference like Hunter, I tend to have the same conversations with owners and investors. We talk about demand, we talk about supply, and we talk about the usual forward-looking indicators. But it does not take long before the real topic comes up. It is not occupancy. It is not even revenue. It is margins.