What is an STR report?

Publish date: 2023-02-10
Developed by the hospitality industry analytics firm Smith Travel Research, the STR report is a benchmarking tool that compares your hotel's performance against a set of similar hotels. The STR report uses a variety of metrics to show performance data.

Subsequently, one may also ask, what is the STR Report for hotels?

The STAR (Smith Travel Accommodations Report) program is used by the global hotel industry as a vital revenue management tool. The report benchmarks your hotel's performance against its competitive aggregate and local market.

Beside above, what if there are blanks in my comp set numbers on the STR report? This means that your comp set did not include sufficient data for reporting. A minimum of three (3) hotels must report data in order for STR to provide comp set performance.

Herein, what is the STR industry?

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

How do you write a Trend Report?

Create a trend report

  • Navigate to Reports > Create New.
  • On the Data tab, give the report a name that reflects the information being grouped.
  • Select the applicable source for the report:
  • Click Next.
  • On the Type tab, enter Trend in the filter, select the Trend report type from the Other section, and click Next.

    • What is str full form?

    STR (Suspicious Transaction Reports) | Department of Revenue | Ministry of Finance | GoI.

    How do you analyze hotel performance?

    Following is the list of most important metrics that will help you to analyze your hotel's market performance and create the suitable market strategies:
  • Average Daily Rate (ADR)
  • Revenue per Available Room (RevPAR)
  • Average Occupancy Rate / Occupancy (OCC)
  • Average Length of Stay (ALOS)
  • Market Penetration Index (MPI)

    • What does Star report mean?

    STAR Report means the report which is produced by Smith Travel Research (or, if Smith Travel Research no longer is in existence at any time during the Term, the substantially similar report of the successor of Smith Travel Research or such other industry resource that is equally as reputable as Smith Travel Research

    What is RGI in hotel 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 is gaining a fair share of revenue compared to its compset.

    Why is RevPAR so important?

    RevPAR is arguably the most important of all ratios used in the hotel industry. Because the measure incorporates both room rates and occupancy, it provides a convenient snapshot of a how well a company is filling its rooms, as well as how much it is able to charge.

    What is the average number of hotels in a competitive set?

    A competitive set (or comp-set) should typically be a group of at least four to five hotels that are able to qualify as direct competitors to your own asset. To be fair, it is often difficult to define your ideal comp-set due to a variety of reasons.

    What constitutes a suspicious transaction?

    It is any transaction where there is a reasonable ground to suspect that the accountable institution has received or is about to receive the proceeds of unlawful activities or activities related to an offence to the financing of terrorist and/or related activities.

    What is a good RevPar index?

    The RevPAR Index, or revenue generating index (RGI) should be 100. This indicates your hotel is getting the expected, or fair, market share amongst the particular group of hotels.

    What is occupancy index?

    Occupancy Index: A ratio measure computed as: Occupancy: Rate of a selected hotel. + Occupancy rate of that hotel's competitive set = Occupancy Index.

    How is MPI calculated in hotels?

    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.

    How is RGI calculated in hotels?

    How to calculate RGI:
  • RGI = 1 The hotel RevPar is equal to the average RevPar of their comp set.
  • RGI > 1 The hotel RevPar is higher than the average RevPar of their comp set.
  • RGI < 1 The hotel RevPar is less than the average RevPar of their comp set.

    • Who bought str?

    Commercial real estate information provider CoStar Group will acquire STR for $450 million in an all-cash deal. Formerly known as Smith Travel Research before a recent rebrand, STR is the premier global provider of data on hotel performance and market dynamics.

    How many hotels are in the world?

    How many hotels are there worldwide? More than 700,000 hotels and resorts are scattered around the globe. The total number of rooms for the various properties comes to 15.5 million.

    What is the role of Smith Travel Research?

    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.

    What is Trend Report in library science?

    TREND REPORT (Library and Information Science) A Trend Report is an exposition of a subject, giving an account of the general direction of research in the subject, based on a review of the documents on current developments.

    How do you calculate room revenue?

    Revenue per available room (RevPAR) is a performance measure used in the hospitality industry. RevPar is calculated by multiplying a hotel's average daily room rate by its occupancy rate. It is also calculated by dividing total room revenue by the total number of rooms available in the period being measured.

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