Restaurant and Lodging Pain

I see a significant increase in the number of restaurants for sale. I'm not sure how many of these get sold. The more likely scenario is that the business closes and the building gets sold or leased to someone else; who my open a restaurant. It is the rare circumstance in which a restaurant can be sold for anything other than real assets. In the restaurant business, there is no practical exit strategy. Why are many restaurants doing poorly?

I also see a significant increase in the number of hotels, motels and inns for sale. Most of these are also real estate deals with some hoped-for premium attached to the business. Why are many lodging businesses doing poorly?

Is there a common thread? It could be that these businesses are finding that discretionary spending is tightening. Consumers are demanding more (better quality) for less. Anyone that can't step up and deliver, gets avoided. Things that "worked" for a long time - suddenly don't. The money flows to a select few who find a way to tip the value scale in the right direction.

This is still not a very useful opinion. How can we find out what people want and why? The answer is; we have to ask them. Research / market study is more important than ever. Smart businesses will pay for the information if it's useful.