Questions and Answers
What is STR Global?
STR Global tracks supply and demand data for the hotel industry and provides market share analysis.
What does STAR stand for in the context of hospitality?
Smith Travel Accommodations Report
Which of the following categories are popular for operating comparisons produced by STR? (Select all that apply)
What does an index of 100 indicate?
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What is a competitive set?
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How do you form a competitive set?
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What metrics are compared in a STAR report? (Select all that apply)
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The occupancy percentage equation is _____
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The ADR equation is _____
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The RevPAR equation is _____
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The index equation is _____
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What does the summary charts review indicate?
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In what year was STR founded?
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When did STR start collecting monthly STAR data?
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When did STR start collecting Canada, Mexico, and Caribbean data?
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When did STR start collecting weekday/weekend data?
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What year did STR launch WWSTAR?
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What year did STR launch DaySTAR?
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What year did STR launch eSTAR?
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What year did STR launch DaySTAR plus?
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When was the Pipeline launched by STR?
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How many properties are part of the US census database for STAR participation?
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How many properties and rooms are involved in monthly STAR data submissions?
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What is the number of properties participating in WW STAR participation?
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What are the rules for creating competitive sets?
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What are the rules for changing competitive sets?
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Study Notes
STR Global Overview
- STR Global tracks supply and demand data in the hotel industry, offering market share analysis for hotel chains and independent hotels.
- Provides historical hotel performance trends on daily and monthly bases, aiding understanding of market dynamics.
Smith Travel Accommodations Report (STAR)
- STAR report assesses a hotel's performance against a selected competitive set.
- Produced by Smith Travel Research (STR), focusing on sales results comparison.
Operating Comparisons Categories
- Common categories for performance comparisons include occupancy, ADR (Average Daily Rate), RevPAR (Revenue Per Available Room), market share, historical trends, and monthly or year-to-date performance.
Index Performance
- An index of 100 indicates equal performance to the competitive set.
- An index greater than 100 means outperformance, while an index below 100 shows underperformance.
Competitive Set Definition
- A competitive set, or "Comp Set," is comprised of competing hotels to benchmark against for operational performance.
Forming a Competitive Set
- To establish a competitive set, request a participation list and select 4-6 competitors, with reports received within 7 days.
Key Performance Metrics
- Compare occupancy percentage, ADR, and RevPAR to gauge hotel performance.
Key Equations
- Occupancy %: Rooms sold ÷ Rooms available
- ADR: Room revenues ÷ Number of rooms sold
- RevPAR: Room revenues ÷ Rooms available
- Index: Property performance ÷ Comp set performance
Review of Summary Charts
- An 18-month performance chart summarizes occupancy, ADR, and RevPAR, indicating performance with color-coded lines.
STR Historical Milestones
- Founded in 1985 and began collecting hotel data the same year.
- Collected monthly STAR data starting in 1987, extending data collection to Canada, Mexico, and the Caribbean in 1992.
- Expanded to include weekday/weekend data in 1997, launched worldwide STAR data in 1998, and daily data in 1999.
- Introduced electronic distribution (eSTAR) in 2000, followed by segmentation features in DaySTAR Plus in 2001, and lodging supply data in Pipeline by 2003.
STAR Participation Statistics
- The US census database includes 49,000 properties with a minimum of 20 rooms.
- Monthly STAR data submissions include over 23,000 properties and represent about 65% of all US rooms, including major chains and independents.
- WW STAR participation involves 35,000 properties globally, with 7,000 actively participating, including over 1,000 in Canada.
STR Industry Categorization
- Categorization based on scale (chain or market), tract scale, market price, tier, location, size, service type, and specific hotel types like resort, golf, spa, boutique, or casino.
Competitive Set Rules
- Established sets must include at least four hotels with specific limitations on room counts from single companies or chains.
- Changes to competitive sets require paired adjustments, with provisions for adding or dropping hotels.
Exclusion Advantages
- Exclusive advantages for properties can arise when removed from competitive benchmarking.
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Description
Explore the dynamics of the hotel industry through performance metrics including occupancy rates, ADR, and RevPAR. This quiz delves into the STR Global Overview and the Smith Travel Accommodations Report (STAR), providing insights on market share and competitive performance. Understand how historical trends and indices shape hotel management strategies.