STR Inc provides hotel industry data and analytics through its reports and analysis. These reports cover key performance indicators like occupancy, average daily rate, and revenue per available room.
STR Inc's reports are based on actual data from hotels, which is then analyzed and presented in a format that's easy to understand. This helps hotel owners and managers make informed decisions.
STR Inc's reports also include a comparison of the current data with historical data, allowing for trends and patterns to be identified.
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What Is STR?
STR, Inc. is a leading provider of data benchmarking and analytics for the global hospitality industry.
With a presence in 180 countries, STR's comprehensive reports empower clients to strategize and compete within their markets.
Founded in 1985, STR's presence has expanded to 15 countries, with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England.
STR provides data that is confidential, reliable, accurate, and actionable, covering 70,000 hotels and 9.2 million rooms worldwide.
STR's data is used to help hotels and other hospitality businesses make informed decisions about pricing, marketing, and operations.
Here are some key features of STR's data and analytics:
- Tracks rates on both desktop and mobile devices for all major OTAs
- Provides full visibility of competitor hotels' discounting strategies
- Compares different rate types, such as public versus member rates and room types
- Identifies strategic adjustments and revenue opportunities by comparing current rates versus rates from the same time last year
- Monitors local events and holiday calendars to gain a better understanding of demand drivers in a market
- Compares different room types across channels and competitors in real-time
Using STR Reports
STR reports are customized to your hotel, offering deep help with strategic decision-making.
You can obtain an STR report by registering with STR through their website and requesting a demo.
STR will ask you to provide data on KPIs like occupancy rates, average daily rates (ADR), and revenue per available room (RevPAR).
To get the most out of your STR report, you'll need to select a competitive set to compare your performance against.
STR reports can be delivered on a daily, weekly, or monthly basis, depending on your subscription.
You can view your reports through STR's online portal or receive them via email.
The three key metrics in a hotel STR report are occupancy rate, ADR, and RevPAR.
These metrics are crucial for independent hoteliers to understand where their hotel sits against its competitors.
STR insights can help you turn your hotel's performance into action.
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Analyzing STR Data
Analyzing STR Data is a crucial step in understanding your hotel's performance. It involves breaking down data into segments to pinpoint the guests and times that are making or breaking your business.
To do this, you'll want to analyze historical numbers to understand how trends are changing over time. This will help you identify areas where your hotel can improve.
Looking at market averages for key metrics is also essential, as it allows you to understand external factors like seasonality and economic conditions. This information can help you make informed decisions about pricing and inventory.
Segmenting your data by weekdays vs weekends and individual guests vs groups can provide valuable insights into your hotel's performance. By identifying the guests and times that are most profitable, you can tailor your marketing and operations to attract more of these customers.
The Hotels Network's Rate Shopping and Market Intelligence Software can help you analyze STR data and make data-driven decisions. This software can help you improve the online booking experience and grow direct bookings.
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Key STR Metrics
The STAR report is a powerful tool for hoteliers, and understanding its key metrics is essential for making informed decisions. Three key metrics stand out: occupancy rate, ADR, and RevPAR.
Occupancy rate is a crucial metric, as it measures the percentage of available rooms that are actually occupied. STR indexes your occupancy rate to 100, making it easier to compare your performance against your competitors.
ADR, or average daily rate, is the average amount of money a hotel earns from each occupied room per night. It's a key driver of revenue, and understanding your ADR can help you optimize your pricing strategy.
RevPAR, or revenue per available room, measures your hotel's ability to fill available rooms at an average rate. If your RevPAR is lower than the market average, it may indicate that your room rates are too low.
Here are the three key metrics in a nutshell:
By understanding these key metrics, you can gain valuable insights into your hotel's performance and make data-driven decisions to drive revenue and growth.
About STR, Inc.
STR, Inc. is a subsidiary of CoStar Group that provides market data on the hotel industry worldwide.
The company was founded in 1985 by Randy and Carolyn Smith, and it's been 40 years since its inception.
STR, Inc. has a corporate headquarters in Hendersonville, Tennessee, and an international headquarters in London, England.
The company has offices in several countries, including Italy, Dubai, Brazil, Singapore, Tokyo, Jakarta, Sydney, and Beijing.
STR currently tracks 67,000 hotels with over 8 million rooms in 180 countries.
STR's data solutions cover supply and demand, as well as market share data, making it a go-to source for the hospitality industry.
The company's products and services help hotel owners, operators, and investors make informed decisions.
STR is also the sponsor of the Hotel Data Conference, a platform for industry professionals to share knowledge and best practices.
STR, Inc. has around 200 employees working to provide accurate and reliable data to the hotel industry.
You can find more information about STR, Inc. on their website at str.com.
STR Software and Tools
STR offers a range of software and tools to help hotels and the hospitality industry make informed decisions.
One such tool is Rate Shopping and Market Intelligence Software by STR, which helps hotels understand their competition and make data-driven pricing decisions.
The Hotels Network's mission is to improve the online booking experience, grow direct bookings and strengthen the relationship between hotel brands and their guests.
STR's software and tools aim to provide hotels with the insights they need to stay ahead in a competitive market.
By leveraging STR's expertise and technology, hotels can gain a better understanding of their market and make more informed decisions about their pricing, revenue management, and marketing strategies.
This can help hotels to optimize their revenue and improve their bottom line.
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