What does STR stand for data?
What does STR stand for data?
Smith Travel Research
Founded in 1985, Smith Travel Research (STR) has had the singular focus of collecting, analyzing and reporting hotel industry data. Since 1988, STR has released a monthly market share report and acts as a census database for all things hospitality, from competitive benchmarking to consumer research.
Why are STR reports important?
How important STR report is? Consistent monitoring of your hotel competition through STR report helps you and your staff invest efforts and energy in the right direction. Smart hoteliers in the market take this proactive approach to access key insights into their competition and gain maximum advantage out of it.
Who produces the STR report?
CoStar Group
STR currently tracks 67,000 hotels with over 8 million rooms in 180 countries. The company is also the publisher of HotelNewsNow, a website with news on the hotel industry, headquartered in Rocky River, Ohio….STR, Inc.
| Type | Subsidiary of CoStar Group |
|---|---|
| Area served | Worldwide |
| Number of employees | 200 |
| Website | str.com |
What are Star reports for hotels?
A benchmark used to evaluate a hotel’s performance against its competitive set. The Smith Travel Accommodations Report (STAR Report) tracks matters such as: Occupancy Rate. Average Room Rate.
How is MPI str calculated?
Market Penetration Index (MPI) You can calculate it by dividing your hotel’s occupancy rate by that of your comp set and multiplying the result with 100.
What does Star report mean?
Smith Travel Accommodations Report
A benchmark used to evaluate a hotel’s performance against its competitive set. The Smith Travel Accommodations Report (STAR Report) tracks matters such as: Occupancy Rate. Average Room Rate.
What does the company STR do?
Company Overview Founded in 1985, STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces.
Why is a Star report important?
In this first stage, it is essential for revenue managers to use the STAR Report to examine the big picture and compare their property’s long-term historical performance to the competition in the local market. This may include looking at up to three years’ worth of trends.
How do you read a Star report?
Starts here10:57Hotel Revenue Management – Reading a STR Report [Beginner]YouTube
What is index in STR report?
An index is calculated by dividing your hotel’s data (occupancy, for example) by the competitive set’s data (the average of all the competitive set’s occupancy numbers), then multiplying by 100. If your hotel scores higher than 100, then you’re outperforming your compset, or capturing more than your fair share.
What is a Smith Travel Star report?
View Full Document. STAR (Smith Travel Accommodation Report) program is the benchmarking suite which is used by the majority of international and national hotel chains as well as many independently operated hotels. It enables you to track your property’s occupancy, ADR and RevPAR performance against your competition.
What are the requirements for STR?
Star rank requirements Be active in your troop for at least four months as a First Class Scout . As a First Class Scout, demonstrate Scout spirit by living the Scout Oath and Scout Law. Earn six merit badges, including any four from the required list for Eagle.
What is a Stern report?
The Stern review is an influential report that set out to examine the economic impacts of climate change.
What is a hotel Star report?
STAR Benchmarking. The STAR program is used by the global hotel industry as a vital revenue management tool. The report benchmarks a hotel’s performance against its competitive aggregate and local market. The STAR program tracks and delivers monthly, weekly and daily data.
https://www.youtube.com/watch?v=xzDZvCKGEk4
