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Mar 4, 2023 · 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 ...
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 ...
Oct 8, 2022 · STR also offers Trend Analysis reports for a one-time fee of $600. The Trend Analysis provides valuable data to hotels that don’t want to pay for a monthly plan. The downside is that it’s an overview of the hotel industry rather than a detailed report that displays your individual hotel data vs. your comp set.
Nov 19, 2021 · A note to editors: All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing. Additional Performance Data STR’s world-leading hotel performance sample comprises 70,000 hotels and 9.3 million hotel rooms around the globe.
- What Is A Star Report in Hotels?
- What Does Str Stand For Within The Hotel Industry?
- What Can An Str Report Help with?
- How to Get An Str Report For Your Hotel
- How to Read and Analyse An Str Report
- Index Numbers in An Str Report
- What Are The Most Important Tabs in A Hotel Star Report?
- KPIs in A Hotel Star Report
A STAR report, or an STR report, is a benchmarking tool that compares your hotel’s performance in relation to a group of similar hotels (competitors). What does STR mean on a property report? Although it’s spelled ‘STR’, the correct pronunciation is ‘STAR’ and the terms ‘STR report’ and ‘STAR report’ are often used interchangeably. It’s important t...
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 benchmarkingand provides market data including supply and demand and market share information on a global scale. For example, STR data...
An STR report can help you to: 1. Benchmark and compare your performance 2. Stay on top of your competitors and your market 3. Understand what qualifies as ‘good’ and ‘bad’ performance for your market 4. Make strategic pricing decisions to improve profitability 5. Monitor the effectiveness of your business strategies over time 6. View supply, deman...
To get an STR report, you can head to the STR websiteand request a demo or purchase a report. Once you’ve registered, you can choose whether to receive new reports weekly, monthly or yearly. Here’s how to get star report for hotels in three simple steps: 1. Step 1:Navigate to str.com. Once there, click “Request A Demo”, either on the homepage or by...
Looking at your STR report for the first time can be confusing given the amount of data available. That said, with a bit of background reading it shouldn’t take long to familiarise yourself with the key terms, KPIs and metrics, and what they mean for your hotel. A good starting point to read an STR report is to scroll down to the ‘Monthly Performan...
When reading your STR report, you’ll see your performance is calculated as an index. Your index number tells you whether or not your hotel is outperforming your compset against three key KPIs: occupancy, ADR and RevPar. The index is calculated by dividing your KPI values by the average KPI values of your compset, then multiplying by 100. An index n...
The three most important hotel STAR report tabs to pay attention to are: 1. Tab 1 – monthly performance at a glance: Look at this tab to get a quick one-page summary of your performance relative to your competitors. 2. Tab 2 – STAR summary: Get a more detailed comparison of your hotel to your competitors and various industry segments. If you’re bea...
A STAR report details important KPIs for your hotel and for your competitors (compset). The three core KPIs to be aware of are:
Jun 18, 2021 · A note to editors: All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing. Additional Performance Data STR’s world-leading hotel performance sample comprises 68,000 hotels and 9.1 million hotel rooms around the globe.
Aug 19, 2022 · Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing. Additional Performance Data STR’s world-leading hotel performance sample comprises 75,000 hotels and 10 million hotel rooms around the globe. Please refer to the contacts listed below for additional data requests. About STR
