ANSWERS · REVENUE & DISTRIBUTION
What is an STR report and how do hotels use it?
5 hotel leaders answerIsaac J. Collazo, Martin Hendricks, Sophie Richard, Rastko Djordjevic and Rogier EnselPublished An STR report shows how a hotel performed against its comp set, the competing hotels it measures itself against. Isaac J. Collazo of STR says most hoteliers still just read the weekly STR report, built on data from about 92,000 hotels. Martin Hendricks uses it to compare his ADR with competitors, Sophie Richard to catch a falling RGI trend, Rastko Djordjevic to test a business plan before buying, and Rogier Ensel to see where the market is heading.
This answer is part of our guide to hotel revenue management.
In their own words
Isaac J. Collazo
Vice President, Analytics, STR (Smith Travel Research)“How did I do against my comp set?”
Listen from 07:32Smith Travel Research: Unlocking Hotel Data Power “90,000 hotels on a monthly basis. ... I think it's 92,000 what we have now.”
Listen from 04:12Smith Travel Research: Unlocking Hotel Data Power Martin Hendricks
Founder & CEO, Black Label Hotels“Everybody's in the STR database. ... What's our ADR? What's the ADR of the competitors? And you can see there is a gap between.”
Listen from 32:38How Black Label Hotels Scale Profitably Sophie Richard
M&L Group“It seems that we have a trend over the last six months that going down in term of RGI, and I've asked them to deep dive a little bit into the data. And we've been lucky enough to have enough data tool, and this is very important.”
Listen from 04:30Reposition before rebrand: a Brussels hotel asset case Rastko Djordjevic
Managing Director EMEA and global lead, JLL Asset Management, JLL“I think it's very important to be realistic. ... an Excel sheet can hold anything. But knowing the operation, walking through the property, talking to your revenue managers, looking at what the market data is telling you using all the market data you have at hand”
Listen from 18:35Owner, operator, advisor: what a hotel asset manager really does Rogier Ensel
Owner / founder (revenue management consultancy), RevGen“I have always liked and enjoyed the ... STR market reports because they ... give quite a good look into the future.”
Listen from 1:04:10Occupancy first, ADR second: revenue management for independents
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Related questions
- How do hotel developers use comp set data to plan a new hotel?Isaac J. Collazo answers at 09:37
- Why does a hotel franchisee need a shareholder to provide guarantees?Martin Hendricks answers at 34:21
- Why do hotel business plans need adjusting after the last five years?Rastko Djordjevic answers at 25:47
- What is the difference between a hotel budget and a forecast?Rogier Ensel answers at 50:42
Companies on this page
STR (Smith Travel Research) · Black Label Hotels · M&L Group · JLL · RevGen · All answers
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