Contents
What does STR report stand for?
Smith Travel Research
STR stands for Smith Travel Research, a hospitality analytics firm founded in 1985. Every Tuesday STR customers receive a “STR Report” showing their hotel’s performance against a local compset so they can see how they’re doing on a relative basis.
Why are STR reports important?
Consistent monitoring of your hotel competition through STR report helps you and your staff invest efforts and energy in the right direction. It’s a vital revenue management boon that lets you seamlessly benchmark your hotel performance against your competitive aggregate across the market.
What are the most important three tabs in a monthly Star report and why?
1) Monthly Performance at a Glance- a quick overview of performance relative to your comp set 2) STAR summary- a detailed comparison of your property to various industry segments and your comp set 3) Competitive Set Report- a historic comparison of your property to your comp set over time 4) STAR Response Report- …
What are the three different operation types?
There are three different types of business operations- service, merchandising, and manufacturing.
What is RevPAR in hospitality industry?
Revenue per available room (RevPAR) is a metric used in the hospitality industry to measure hotel performance. The measurement is calculated by multiplying a hotel’s average daily room rate (ADR) by its occupancy rate.
What is the full form of STR?
STR Full Form is Strides Therapeutic Riding
| Term | Definition | Category |
|---|---|---|
| STR | Suspicious Transaction Report | Banking |
| STR | SATARA | Indian Railway Station |
| STR | Statistical Report Application | Softwares |
| STR | Short Tandem Repeats | Human Genome |
What is always true when a hotel has a RevPAR index above 100?
What is always true when a hotel has a RevPAR index above 100? The hotel is out performing its competitive set. The STAR report for a manager’s hotel indicates that last month the hotel achieved an ADR Index of 110.
What is RevPAR used for?
How do hotels submit data to STR?
On a daily, weekly and monthly basis, STR processes performance data from hotels all around the world. This data is submitted straight from the source: chain headquarters, management companies, owners and directly from independent hotels. The data is checked for accuracy and for adherence to our reporting guidelines.
How many hotels do you need to have to have a Star report?
A minimum of three hotels, excluding the subject property, must have reported data to us. Or, your hotel management has not selected a competitive set. Please refer to the Response Report. The subject hotel’s data can be included or excluded from competitive set performance, based on your company’s preference.
What can you do with a hotel STR report?
Once you can read a STR report, you can apply your knowledge about your hotel markets compset and market trends to your own hotel’s strategy, which will help you meet your revenue and occupancy goals. But the STR report isn’t the only tool you can use to take your hotel’s performance to the next level.
Where to find hotel occupancy in Star report?
Please refer to the Response Report. The subject hotel’s data can be included or excluded from competitive set performance, based on your company’s preference. The chosen method will be noted at the top of the page. Occupancy:
When do I need to read a Star report?
13. STAR Data LoadingHow• Most data received via corporate feeds• Data for independents entered via STR webWhen• Monthly data starts arriving after month end• Daily data for prior week arrives on Monday or Tuesday except for holidays 14. ReadingYour STAR Reports 15. Why do I need a STAR Report?