LOS ANGELES-Research from Jones Lang LaSalle shows that the resort sector has made significant recovery strides this year. Overall, the resort sector accounted for 18.4% of the total investment transactions in the hospitality market, raking in $2.46 billion by August 2013, the highest volume since 2007.

Increased investor attention is the result of the industry's record-breaking revenue-per-room-available numbers, averaging $102.99, and the near-record occupancy rates. While new resort development remains stagnant, existing resorts are left to benefit from growth in the market. “These factors are pushing down cap rates on existing well-positioned, cash-flowing resorts as competition increases,” says Art Adler, Americas CEO of Jones Lang LaSalle's Hotels and Hospitality Group. “The steady improvement in the market will result in a lengthier and more robust up-cycle, providing new owners with significant runway of strong operating performance.”

With investors looking to capitalize on this upturn, resort owners can add improvements, updates and amenities that they weren't able to afford during the recession. Specifically, REITs and offshore investors are looking to enter the resort space while private equity firms are actively seeking value-add opportunities.