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Importance of Smith Travel Research (STR) Report in knowing your competition
Let’s first know what STR report is all about
Smith Travel Research, an american company formerly known as STR provides a monthly report to the hotel industry, which is helps in measuring & benchmarking the hotel performance against other competitive set across the market.
In the hotel industry, Smith Travel Research ( STR ) Report is not just about providing the market share analysis for the hotel portfolios, but also empowers hoteliers in making better decisions by letting them access actionable insights.
STR currently tracks more than 60,000 hotels with over 8 million rooms.
Hoteliers can utilize this insightful report to view their hotel performance status across the market, while comparing with competitors. The STR report analysis will cover the segments such as Room Occupancy Percentage, RevPAR – Revenue per Available Rooms and ADR – Average per Daily Rate.
How important STR report is? If you’re running a hotel, it’s vital to know the pulse of your competition. That’s how you can work on your weak areas and win your competitors to maximize your hotel’s success.
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.
It’s a vital revenue management boon that lets you seamlessly benchmark your hotel performance against your competitive aggregate across the market.
To increase your hotel bookings and boost revenue, staying connected to the competitive set is very important. Wondering, how to indulge it into your hotel business??
Import STR & know where your stand in the competition
Nimble Property helps you keep a tab on it!
It’s the most loved Accounting solution by the hoteliers across the hospitality industry.
All you got to do is, import the STR data directly into Nimble .
Consolidated dashboard lets you view the performance status of your hotel in the market with Comparison of Competitors.
No matter, you have one hotel or group of hotels STR import facility in Nimble gives you better visibility into all your properties’ competitive set.
View your entire business portfolio’s occupancy percentage, average daily rate (ADR) and RevPar performance against your aggregated performance of the chosen competitive hotels selection.
The STR/STAR program widget in Nimble adds value to your business by acting as an effective revenue management tool, letting you track and access monthly, weekly and daily competitor analysis data.
Within few clicks, you can import the STAR data directly into Nimble by just downloading it from your STAR provider and generate the STR reports for desired time period.
Want to know more? Schedule a demo today! www.nimbleproperty.net
Here’s an explainer video that helps you in reading a STR report.
Well explained about the importance of STR report.
Got the depth in your content. Yes, the STR report is an important benchmarking tool that allows hoteliers to compare their hotel’s performance against other hotels.
Reading STR report – It’s not only a NEED, but a NECESSARY practice. Well painted, cheers!!!
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STR (Smith Travel Research)
Among hotel owners and workers, Smith Travel Research (STR) is synonymous with in-depth market analysis, industry professionals a wealth of data on occupancy rates, average daily rates (ADR), RevPAR, and other critical performance metrics. STR's reports and insights are invaluable tools for benchmarking and strategic decision-making, providing a clear view of market trends, performance comparisons, and opportunities for growth.
What is the STR (Smith Travel Research)?
Smith Travel Research, known as STR, is a leading source of data benchmarking, analytics, and marketplace insights in the hospitality industry. STR's comprehensive reports cover various performance metrics, including occupancy, ADR, and RevPAR, offering a granular view of the competitive landscape and market dynamics.
How Do You Utilize STR Data?
Utilizing STR data effectively involves:
- Benchmarking Performance: Compare your hotel's performance against industry averages or specific competitive sets to identify strengths and areas for improvement.
- Market Trend Analysis: Analyze market trends and forecasts provided by STR to anticipate shifts in demand and adjust strategies accordingly.
- Strategic Planning: Leverage STR data in strategic planning to inform decisions on pricing, marketing, and expansion based on reliable market intelligence.
Why is STR Data Critical for Hoteliers?
STR data is critical for several reasons:
- Competitive Insight: It provides a benchmark for comparing a hotel's performance against competitors and the broader market.
- Informed Decision-Making: Access to comprehensive market data supports more informed decision-making regarding pricing, marketing, and operational strategies.
- Trend Forecasting: STR's analysis of historical data and market trends helps predict future market movements, enabling proactive strategy adjustments.
FAQs About STR (Smith Travel Research)
Q: how can hotels access str reports.
A: Hotels can subscribe to STR's services directly through their website, gaining access to a range of reports and analytics tools tailored to the hospitality industry.
Q: Are STR Reports Useful for Small Hotels and Independent Properties?
A: Yes, STR provides valuable insights for properties of all sizes, offering customizable data sets to suit diverse market positioning and competitive landscapes.
Q: How Can STR Data Influence Revenue Management?
A: STR data can inform dynamic pricing strategies, optimize distribution channels, and enhance promotional activities by providing a detailed understanding of market demand and competitor pricing.
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TIAK PRESENTATION OCTOBER 2020
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TIAK STR Flier
Custom_ForecastFAQ_May 2020
List of Non-Participating Hotels
Frequently Asked Questions Related to COVID
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Smith travel accommodations report (star).
Smith Travel Accommodations Report (STAR) is a monthly hotel competitive report developed by Smith Travel Research.
What is STR?
STR Stands for Smith Travel Research , a hospitality research company started in 1985 in Lancaster, Pennsylvania. At the time, there was not a good resource for competitive hotel data. STR built a census database with contact information for hotels across the United States that eventually evolved into a market share report (STAR). STR was acquired by the CoStar Group in 2019 for $450 million and is an important asset in their portfolio of real estate information service providers with brands such as Apartments.com and BizBuySell. In 2022, STR remains a market leader in hotel intelligence and is used by all types of hotels from independent properties to Fortune 500 chains.
What is Smith Travel Accommodations Report STAR?
In 1988, STR brought this to life with their Smith Travel Accommodations Report (STAR). This was a monthly report that measured hotel market share and other key competitive metrics. This concept grew and expanded to international markets, becoming a core dataset that has been used in the hotel industry all over the world.
Due to being a pioneer in the hotel competitive data space, the STAR report created important metrics used by hoteliers such as the Market Penetration Index (MPI) and the average rate index (ARI).
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Trend Report
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Limited-Time Offer Extended
For a limited-time, STR will add at no additional charge 2 years of data to our Standard 6-year Trend (data since 2014) and 3 years of data to our 10-year trend (data since 2009). Considering the times, our hope is to provide the industry with a better understanding of performance recovery during the last recession. To ensure you receive the data most relevant to you, please read the ordering instructions below:
Important Trend Promotion Details
Directions for custom trends, for a standard 6-year trend (data starts in 2012):.
Login and purchase a Standard (6-year) Trend and receive 2 additional years of data. Please note: Your shopping cart will still show 6 years. Our Trends team will add the additional time to your Trend Report when they process your order.
For a 10-Year Trend (data starts in 2007):
For North America Trends: Log in, purchase a 10-Year Trend, and receive three additional years of data. Please note: Your shopping cart will still show 10 years. Our Trends team will add the additional time to your Trend Report when they process your order.
Non-North America Trends: We currently do not offer online ordering of 10-Year Trends for markets outside of North America. Please contact our International Trends team ( [email protected] ) directly to place your order.
Please note: The "Additional Years" promotion is not available for Extended or Full Trends.
Directions for industry trends: now available for online purchase.
Industry Trends purchased online now include the additional years.
Please note: The "Additional Years" promotion is not available for Extended or Full Trends.
Whether you are embarking on a hotel development project, buying or repositioning a property, or just looking to better understand the hotel industry, Trend Reports are the ideal resource to help you conduct a thorough analysis.
- No individual hotel data is displayed in a Trend Report.
- Report metrics include Occupancy, ADR, RevPAR, revenue, supply and demand with year-over-year percentage changes.
- Standard (data for the last 6 years) + 2 bonus years
- 10 Year (data for the last 10 years) + 3 bonus years
- Extended (data beginning in 2000)
- Contact us for non-North America data beginning in 1999.
- Custom Trends are available to measure performance for a specified set of hotels.
- Multiple options are available for report currency.
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The Hotel Profitability Review is a standalone Excel deliverable that gives you direct access to the data. This year's file covers 2022 profitability data from over 7,000 hotels around the globe. The report contains profit and loss data on a macro level with additional focus on regions, countries, markets, classes and service types.
Profit and Loss Reports. Gain a clear understanding of your property's bottom line with a comprehensive overview of financial performance and competitive insights. Our profit and loss (P&L) reports analyze your revenue and expenses, helping you identify the profitability trends that inform your revenue management strategy.
Profit & Loss (P&L) Reports ; Forecasts; Destination and Market Insights ; Training. Training Courses ... not only in terms of the data they put out there, but also the analysis and research work that they do. Sourav Ghosh, Chief Financial Officer, Host Hotels & Resorts We use STR every day, and it is extremely valuable, and I think it is a ...
The report is usually released every Tuesday and is delivered in a digital format, though you can also receive reports on a monthly or yearly basis. In order to receive your STR report, hoteliers must submit performance data (like daily occupancy and ADR) to Smith Travel Research, who then compiles all of the data they receive into the nicely ...
In the hotel industry, Smith Travel Research Report is not just about providing the market share analysis for the hotel portfolios, but also empowers hoteliers in making better decisions by letting them access actionable insights. STR currently tracks more than 60,000 hotels with over 8 million rooms.
Pronounced "STAR report," the STR report is a weekly benchmark report generated by Smith Travel Research. It helps hotels evaluate performance against their competitors. CoStar Group Inc. acquired Smith Travel Research in 2019 and continues to provide the hotel business with valuable benchmarking data. Here's how it works:
Smith Travel Research recently released its 2009 Hotel Operating Statistics (HOST) report. While reviewing a 10-year history of full-service hotels' expenditures and revenues, several questions ...
STR (Smith Travel Research) Benchmarking is a powerful tool that enables hotels to measure their performance against industry standards. It provides a benchmarking framework by collecting and ...
STR was founded in 1985 as Smith Travel Research by Randell A. Smith and his wife Carolyn Smith from their kitchen table in Lancaster, ... Loews, and Accor, to keep hotel room prices artificially high, using research reports produced by STR to facilitate the sharing of competitively sensitive information among commercial rivals. ...
February 2024: US, Regional, State and City Data For detailed lodging performance data for your area, contact STR at 615-824-8664, ext. 3504 or email [email protected] hotels, click here to participate and receive a free benchmarking report for your market. Past STR Reports: January 2024 December 2023 November 2023 For copies of historical STR Reports beyond the past three months ...
STR (Smith Travel Research) Among hotel owners and workers, Smith Travel Research (STR) is synonymous with in-depth market analysis, industry professionals a wealth of data on occupancy rates, average daily rates (ADR), RevPAR, and other critical performance metrics. STR's reports and insights are invaluable tools for benchmarking and strategic ...
HOW TO USE STAR REPORT / SMITH TRAVEL REV 3-99 BLACK PLATE PMS 201 PLATE PMS421 PLATE SPREAD 2A Custom HOSTReports In compiling the data for the HOST Study, SMITH TRAVEL RESEARCH (STR) has created the most extensive and definitive database on hotel industry revenues and expenses. The operating statements of
Before we look at STR reports in more detail, what exactly does 'STR' stand for? STR Inc. is a hotel analytics company founded in 1985 as Smith Travel Research. The company is the recognised leader in hotel industry benchmarking and provides market data including supply and demand and market share information on a global scale.
Smith Travel Research provides a monthly report to the hotel industry, which helps in measuring & benchmarking the hotel performance against other competitors set across the market. Click on the resources below for more information. TIAK PRESENTATION OCTOBER 2020 TIAK Presentation_June3 TIAK STR Flier Custom_ForecastFAQ_May 2020 List of Non-Participating Hotels Frequently Asked Questions ...
How to interpret a STAR Report from Smith Travel Research (STR).
An analysis of Smith Travel Research occupancy estimates: a case study of Virginia Beach Hotels. Author links open overlay panel ... STR has supplied us with a report that provides the summed responses of Virginia Beach chain hotels that participate in the STR sample and STR's estimate of chain-hotel room-nights APRIL 2002 CASE STUDY OF ...
25 terms. kmlacefield. Preview. Government Intervention in Markets. 30 terms. Anna999189. Preview. Study with Quizlet and memorize flashcards containing terms like Smith Travel Research HOST report and custom HOST report, Smith Travel Research Monthly STAR report, D.K Shifflet Performance Monitor and more.
STR Stands for Smith Travel Research, a hospitality research company started in 1985 in Lancaster, Pennsylvania. At the time, there was not a good resource for competitive hotel data. STR built a census database with contact information for hotels across the United States that eventually evolved into a market share report (STAR).
Limited-Time Offer Extended. For a limited-time, STR will add at no additional charge 2 years of data to our Standard 6-year Trend (data since 2014) and 3 years of data to our 10-year trend (data since 2009). Considering the times, our hope is to provide the industry with a better understanding of performance recovery during the last recession.
and John D. Lesure, Research Director, Smith Travel Research. Chuck Ross (STR) (615) 824-8664. STR. SUMMARY An analysis of Smith Travel Research's database of 35,000 hotels shows a general ...