Developed by hotel industry analytics company, Smith Travel Research, the STR report is a benchmarking tool that compares your hotel‘s performance against a range of “similar hotels“. For this purpose, STR uses anonymized data from your competitors, a group of hotels that you select for comparison purposes.

Similarly, people are asked: What is the STR industry?

STR, formerly known as Smith Travel Research, is a American company based in Hendersonville, Tennessee that tracks supply and demand data for multiple market sectors, including the global hotel industry.

Do you also know what the role of Smith Travel Research is?

Smith Travel Research, an American company formerly known as STR, provides the hospitality industry with a monthly report that helps measure & Comparing hotel performance to other competitors in the market.

Regarding this, what if my comp set numbers have spaces in the STR report?

This means your comp -Set did not contain enough data for reporting. A minimum of three (3) hotels must report data for STR to provide Comp Set performance.

What is a Hotel STR report?

STR. The STAR (Smith Travel Accommodations Report) program is used by the global hospitality industry as a key revenue management tool. The report compares your hotel‘s performance against the overall competition and the local market.

How is MPI calculated in hotels?

Market Penetration Index (MPI). You can calculate it by dividing your hotel‘s occupancy by your comp set’s occupancy and multiplying the result by 100.

What is a good RevPar Index?

The RevPAR Index, or Revenue Generating Index (RGI), should be 100. This indicates that your hotel is achieving the expected or reasonable market share in the relevant hotel group.

Who bought str?

Commercial Property information provider CoStar Group, formerly known as Smith Travel Research prior to a recent rebranding, is the world’s leading provider of hotel performance and market dynamics data, acquiring STR for $450 million in cash.

What is Trend Report in Library Science?

TREND REPORT (Library and Informati science). A trend report is a presentation of a topic that provides an “overview of the general research direction of the subject based on a review of the documents for current developments.

How many hotels are there worldwide?

How many hotels are there worldwide? More than 700,000 hotels and resorts are scattered around the globe. The total number of rooms in the various houses is 15.5 million.

What is Occupancy Index?

Occupancy Index: A ratio measure calculated as follows becomes: Occupancy: Rate of a selected hotel. + Occupancy rate of this hotel‘s competitive set = Occupancy Index.

How do you calculate RevPar?

RevPar is calculated by multiplying a hotel‘s average daily room rate by its occupancy rate. Er is also calculated by dividing the total room turnover by the total number of available rooms in the measured period.

What is a trend report?

Trend report A trend report shows the number of events, objects or actors at a series of points along a continuum, usually a timeline. The X-axis of a trend report displays data points on that continuum that represent weeks, months, or quarters in a year, or some other meaningful increment.

What is the STAR Report?

STAR Report means the Smith Travel Accommodations Report (STAR) published by STR which, among other things, compares a hotel‘s performance to its performance.

What reports are used in hotels?

Different types of reports used in hotels. Reports are usually taken from the property management systems / PMS ( e.g. B.: Opera, Protel, Hetras, Fidelio etc.) or Point of Sale – POS printed (Micros, Shawman etc.). Reports such as arriving today, departing today, guest in house, VIP – in house, sale by check, etc.

What does the star in the hotel mean?

In the USA, a five star -Rating system is commonly used by independent organizations like AAA to rate a hotel. One star is the lowest rating and five stars is the highest rating. One Star: A one star rating often means a hotel is no frills and offers only basic accommodations.

What is RGI in the hospitality industry?

RGI stands for: Revenue Generation Index RGI compares your hotel‘s RevPar to the average RevPar in the market.It is used to determine if a hotel has a reasonable Share of sales received.