The use of what are called blank-check companies, which go public with no assets and then merge with private companies, surged in 2020, raising a record $82.1 billion in 2020, up from $13.5 billion in 2019.

Although the FTSE Nareit Equity Lodging/Resorts Index surged in November following news of successful vaccine trials, it was still down 25% in 2020.