Edward J. "Ted" Hunter provides perspective in a Detroit News article on the recent sale of a historic hotel on Mackinac Island to a private equity firm. He observes that “the acquisition comes during a recent growing trend of private equity firms purchasing boutique hotels. They're following the money. … Travelers over the last five years have been demanding a more unique destination type of hotel experience rather than just a bed, clean towel, and a pillow. It’s more of a millennial preference than the generation before."