 On May 13, hotel real estate investment trusts REITs Pebblebrook Hotel Trust NYSE: PEB, DiamondRock Hospitality Trust NYSE: DRH, and Park Hotels Resorts NYSE: PK all fell 10 or more in the first half of trading. Each of these three hotel REITs had a difficult first quarter, as efforts to contain the spread of COVID-19 had a swift and direct impact on the performance of their properties. In reality, the social distancing and non-essential business closures mandated by the government only impacted a part of the first quarter. 