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Submission: On February 15 via api from US — Scanned from DE
Submission: On February 15 via api from US — Scanned from DE
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* Data Solutions
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Asia PacificCentral and South AmericaEuropeMiddle East and AfricaNorth America
North America
* Choose region
* Asia Pacific
* Central and South America
* Europe
* Middle East and Africa
* North America
Select your language EnglishChinese
(简体中文)日本語EspañolDeutschItalianoFrançaisPortuguese, Brazil
English
* Choose language
* English
* Chinese (简体中文)
* 日本語
* Español
* Deutsch
* Italiano
* Français
* Portuguese, Brazil
English
Asia PacificCentral and South AmericaEuropeMiddle East and AfricaNorth America
North America
* Choose region
* Asia Pacific
* Central and South America
* Europe
* Middle East and Africa
* North America
Select your language EnglishChinese
(简体中文)日本語EspañolDeutschItalianoFrançaisPortuguese, Brazil
English
* Choose language
* English
* Chinese (简体中文)
* 日本語
* Español
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* Portuguese, Brazil
English
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GLOSSARY
* a
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1
BACK TO TOP
12-MONTH AVERAGE
The value of any given month is computed by averaging the value of that month
and the 11 preceding months.
3
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3-MONTH AVERAGE
The value of any given month is computed by averaging the value of that month
and the 2 preceding months.
A
BACK TO TOP
ADDITIONAL REVENUE
Additional revenue includes F&B Revenue, Other Revenue and Total Revenue, as
defined below:
* F&B Revenue: Revenue derived from the sale of food, beverages and other
sources within the F&B department.
* Other Revenue: All revenue generated outside of rooms and F&B departments.
* Total Revenue: All revenue generated from hotel operations listed above as
rooms, F&B and other revenue.
See Data Reporting Guidelines for specific application.
AFFILIATION
A publicly recognized brand or chain with consistent brand standards across a
group of properties. Generally, STR creates or designates an affiliation after
the company portfolio has a minimum of eight properties.
ALL-INCLUSIVE
Property with rooms sold as a complete package only, bundling overnight
accommodations and value-added amenities and services (i.e., food, beverage,
activities and gratuities, etc.)
ALL-INCLUSIVE HOTEL
In all-inclusive hotels, guests pay one upfront fee that covers their
accommodations, food, drinks, and various activities and entertainment. These
hotels are designed to offer guests a worry-free vacation experience with all
needs included as a package for one price. All-inclusive hotels are popular
among travelers who want to enjoy a variety of activities and amenities without
worrying about the cost. Depending on the hotel, guests may have access to
features like pools, beaches, water sports, and more. All-inclusive hotels are
popular in high-tourist areas like the Caribbean.
ALL-SUITE
Property with guestroom inventory exclusively consisting of rooms offering more
space and furniture than a typical hotel room, including designated living area
or multiple rooms.
AMENITIES
Features and services offered at hotels (i.e., restaurant, golf, pool, spa or
casino).
ARCHITECT
A person or entity that is responsible for hotel project design, planning and,
in many cases, construction supervision.
ASSET MANAGER
The company or contact that handles all the financial transactions for the
subject property insuring the loans, appraisals, and management requirements are
in order and operating correctly. Asset Managers usually handle portfolios of
properties, which the subject property may be one of.
AVERAGE DAILY RATE (ADR)
A measure of the average rate paid for rooms sold, calculated by dividing room
revenue by rooms sold.
ADR = Room Revenue/Rooms Sold
AVERAGE PUBLISHED RATE (APR)
Measured by averaging the range of published room rates for various room sizes
(single or double, etc.) during different times of the year. When hotels in the
STR Census Database do not report data to STR, published rates are used to
estimate actual Average Daily Rate (ADR).
AVERAGE RATE INDEX (ARI)
Measures a hotel’s ADR performance relative to an aggregated grouping of hotels
(i.e., competitive set, market or submarket). If all things are equal, a
property's ARI is expected to be 100, compared to the aggregate group of hotels.
Historically, this is described as "fair share."
An ARI greater than 100 represents more than the expected share of the
aggregated group’s ADR performance. Conversely, an ARI below 100 reflects less
than the expected share of the aggregated group’s ADR performance.
To calculate an ARI: (Subject hotel ADR/Aggregated group of hotels’ ADR) x 100
= ARI
For example, if the subject hotel’s ADR is $50, and the ADR of its competitive
set is $50, the subject hotel’s ARI totals 100. If the subject hotel’s ADR
totals $60, its ARI would be 120, indicating that the hotel captured more than
its expected share. If the subject hotel’s ADR totals $40, its ARI would be 80,
indicating that the hotel has captured less than its expected share.
B
BACK TO TOP
BANDWIDTH
The range of performance among a competitive set indicated by the daily high and
low performance of individual competitors.
BED & BREAKFAST (B&B/INN)
Independently owned and operated properties that typically include breakfast in
the room rates, 20 rooms or fewer and a resident/owner innkeeper.
BENCHMARKING
Benchmarking is the process of comparing and analyzing your property or
portfolio's performance against the competition. The benchmarking process draws
on our robust historical data to provide you with a better understanding of the
market and context in which you operate.
BEST AVAILABLE RATE (BAR)
BAR rate stands for Best Available Rate and refers to the lowest rate offered by
a hotel for a particular room type on a given day. This rate is typically
available to any guest who books directly with the hotel, either online or over
the phone. The BAR may fluctuate depending on factors such as demand,
seasonality, and other market conditions. Hotels use BAR as a way to drive
direct bookings and compete with third-party booking channels. It is an
important pricing strategy in the hotel industry and can impact a hotel's
revenue management strategy.
BLEISURE
"Bleisure" is a popular term used in reference to combination business and
leisure trips. When work from home grew in practice because of the pandemic,
"bleisure" became more popular among business travelers looking to make the most
of their time on the road. Bleisure trips often involve adding a few extra days
to a business trip to enjoy leisure activities such as sightseeing, spa
treatments, golf, or skiing. Bleisure is viewed as an opportunity to achieve
more work-life balance while still fulfilling professional obligations.
BOUTIQUE
Property that appeals to guests because of its atypical amenity and room
configurations. Boutiques are normally independent (with fewer than 200 rooms),
have a high average rate and offer high levels of service. Boutique hotels often
provide authentic cultural, historic experiences and interesting guest services.
Select boutique chains include the Autograph Collection (Marriott
International), Dream Hotel (Wyndham Worldwide Corporation), Exclusive Hotels,
Joie De Vivre, Kimpton Hotels, and Melia Boutique (Group Sol Melia). See
Lifestyle Brand, Soft Brand.
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CENSUS
The total number of hotels and rooms in a particular segment (i.e., country,
market or submarket).
CENSUS DATABASE
STR’s database of existing properties containing key information and amenities
offered by each property.
CHAIN SCALE
Chain Scale segments are grouped primarily according to actual average room
rates. An independent hotel, regardless of average room rate, is included as a
separate Chain Scale category. The Chain Scale segments are: Luxury, Upper
Upscale, Upscale, Upper Midscale, Midscale, Economy and Independent.
CHANGE IN ROOMS
Indicator of whether or not an individual hotel has added or removed rooms from
their inventory.
CLASS
A categorization of chain-affiliated and independent hotels. The class for a
chain-affiliated hotel is the same as its Chain Scale. An independent hotel is
assigned a class based on its ADR, relative to that of the chain hotels in their
geographic proximity. The class segments are: Luxury, Upper Upscale, Upscale,
Upper Midscale, Midscale and Economy.
CLOSED
Property that is closed permanently or due to renovation and may/may not reopen,
depending on the closure reason.
COLLAPSED CLASS | COLLAPSED CLASS
Two combined classes that form a single segment. The collapsed classes are:
* Luxury and Upper Upscale
* Upscale and Upper Midscale
* Midscale and Economy
COLLAPSED SCALE
Combined chain scales that form a single segment. The collapsed scale segments
are:
* Upscale Chains – includes Luxury, Upper Upscale and Upscale chains
* Midscale Chains – includes Upper Midscale and Midscale chains
* Economy Chains – includes Economy chains
* Independent – includes Independent properties
COMP SET GRADE
The Comp Set Grade is driven by a statistical model that analyzes the more than
30,000 primary comp sets stored in the STR database. The model does a
comparative analysis of the composition of your property's primary comp set and
the primary comp sets of all other properties sharing the same class and
location type. In most instances, the greater your property's comp set deviates
from the norm, the lower your comp set grade. Factors used in the comparative
analysis include: comp set ADR spread, comp set occupancy/ADR/RevPAR standard
deviations, comp set absolute occupancy/ADR/RevPAR levels, comp set class
variance, comp set nameback percent ratio, and comp set average property age,
room count and distance. The comp set grades are calculated using the most
current performance data, and thus the comp set grade shown in the "This Year"
tab and the "Last Year" tab will always be the same.
COMPANY TYPES
Company types include:
* Architect: Person or entity responsible for hotel project design, planning
and, in many cases, construction supervision.
* Asset Management Company: Company that manages investments on behalf of the
owner.
* Developer: Company that prepares a site and builds as a lodging facility for
commercial use.
* Franchise Company: Group of independently-owned operations that have been
issued a contract to use a specific name and logo, purchased for an annual
fee plus “royalties” - usually based on a percentage of sales. Members share
benefits, like brand identity, corporate image advertising, centralized
reservation systems, corporate training programs and volume purchasing.
* Management Company/Operator: Company that manages a property’s operations for
its owners, typically in return for fees and/or revenue share.
* Membership Company: Company in which independently owned and operated lodging
properties operate under a single membership affiliation while sharing a
global reservations system, marketing, advertising, purchasing, training and
quality standards with fewer constraints than a traditional franchise
company. Each company member has a voice in company operations.
* Owner Company: Company that primarily owns, rather than franchises or
manages, lodging properties. To be coded in the STR database as “the” owner,
a company must have majority ownership (51% or more) of the property.
* Parent Company: Company that owns one or more brands. Examples include Accor
Hotels, Choice Hotels International, InterContinental Hotels Group, Marriott
International and Wyndham Worldwide Corporation.
* Real Estate Investment Trust (REIT): Corporation or trust that uses the
pooled capital of many investors to purchase and manage income property
and/or mortgage loans. Typically, they distribute the majority of earnings
directly to shareholders as dividends without taxation at the corporate
level.
* Referral Company: Group of independently owned, non-affiliated properties
that have banded together to recommend and refer business. This type of
connection typically does not carry the same involvement and standardized
requirements as a membership or franchise company.
COMPETITIVE SET (COMP SET)
A Competitive Set (Comp Set) is a group of hotels that a hotel property competes
against for business. These hotels are typically located in the same geographic
area and offer similar services and amenities. By analyzing a competitive set, a
hotel can better understand its position in the market and adjust its pricing
and marketing strategies accordingly. Competitive set analysis is a vital tool
for revenue managers and can help a hotel maximize its revenue and market share.
COMPLIMENTARY SERVICE
In the hospitality world, complimentary services refer to any amenity that is
provided to a guest free-of-charge. Common complimentary services include things
like Wi-Fi, breakfast, parking, fitness centers, toiletries, and more. Hotels
use these services to attract guests and retain loyalty by providing added value
and convenience.
COMPOSITE PROPERTY
An aggregate of multiple, anonymous properties that acts as one individual
property. The hotels that make up this Composite Property are anonymized and
chosen automatically by STR’s proprietary methodology that weighs objective
criteria such as location, performance, class, property size and mix of
business.
CONDO
Individually and wholly-owned condominium unit. Inventory is included in a
rental pool operated and serviced by a management company.
CONFERENCE CENTER
Property with a major focus on conference facilities. This type of establishment
must adhere to the guidelines of the International Association of Conference
Centers (IACC).
CONTRACT ROOMS
A consistent block of rooms committed at stipulated contract rates for an
extended period over 30 days with payment guaranteed regardless of use, such as
for airline crews and permanent guests. This type of data is categorized as
"contract" in segmentation calculations.
CONVENTION CENTER
Property with a minimum of 300 rooms and large meeting facilities (minimum of
20,000 square feet) and not part of the Conference Center Group (CCG).
CONVERTED IN
Rooms added to a chain's inventory from another brand or independent hotel.
CONVERTED OUT
Rooms removed from a chain's inventory and added to another brand or independent
hotel.
COST PER OCCUPIED ROOM (CPOR)
Cost Per Occupied Room (CPOR) is an indicator of operational efficiency. CPOR
measures the total operating expenses for a specific period divided by the total
number of occupied rooms during that same period. CPOR encompasses all costs
associated with running a hotel, including labor costs, utilities, and
amenities. By tracking CPOR, hotels can identify areas where they can reduce
expenses and improve profitability while still providing complimentary services
to guests.
COUNTRY
The country or nation where a physical property is located.
COUNTY
In the U.S., a county is a geographic subdivision of a state (or federal
territory).
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DATE COMPARISON
Comparison of daily performance by actual calendar date (1st of January this
year vs. 1st of January last year).
DAY-OF-WEEK REVPAR
The Day-of-Week RevPAR on a Pulse Report details your property's average
day-of-week RevPAR (e.g. Monday) versus the average for your primary comp set.
Please note that the aggregate competitive set data excludes your property, so
the results may be different than shown in your STAR report if your STAR report
includes your property in comp set data.
DAY-TO-DAY COMPARISON
Comparison of daily performance by day of week (Monday this year vs. Monday last
year).
DEMAND
The number of rooms sold in a specified time period (excludes complimentary
rooms). Refer to Data Reporting Guidelines for more specific application.
See: Rooms Sold (Room Demand).
DESTINATION RESORT
Property that appeals to leisure travelers, typically located in resort markets,
and considered a destination in and of themselves with extensive amenity
offerings. These properties are typically larger and full-service.
DEVELOPER
A company that prepares a site and builds for commercial use as a lodging
facility.
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EXCHANGE RATE
The value of one currency for the purpose of one conversion to another. For STR
reporting purposes, this is the factor used to convert U.S. dollar revenue to
local currency and vice versa. STR obtains exchange rate data from Oanda.com.
Monthly data uses the rate on the last day of the respective month. Daily data
uses the corresponding daily rate. When calculating STR reporting data, any
aggregated number (YTD, Running 3-month or Running 12-month) uses the exchange
rate of each relative month. See: Constant Currency.
EXTENDED STAY
Properties typically focused on attracting guests for extended periods. These
properties quote weekly rates. The typical length of stay average for guests is
four to seven nights.
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FAIR SHARE
A metric that assumes an even distribution of supply, demand and revenue among
all properties in a selected group. An index of 100 indicates a property has
achieved its fair share. For example, if a subject hotel’s ADR is $50, and the
ADR of its competitive set is $50, the subject hotel’s total index is 100. If
the subject hotel’s ADR totals $60, its index is 120, indicating the hotel has
captured more than its expected share. If the subject hotel’s ADR totals $40,
its index is 80, indicating the hotel has captured less than its expected share.
FIXED CONSTANT CURRENCY
An exchange rate that eliminates the effects of exchange rate fluctuations,
using exchange rates from 31 January of the current year.
FOOD & BEVERAGE (F&B) REVENUE
Revenue derived from the sale of food, beverage and non-consumable goods and
services sold by a property’s food and beverage department. Refer to Data
Reporting Guidelines for more specific application (HOST & P&L).
FRANCHISE COMPANY
A group of independently-owned operations that have been issued a contract to
use a specific name and logo, purchased for an annual fee plus “royalties” -
usually based on a percentage of sales. Members share benefits like brand-name
identity, corporate image advertising, centralized reservation systems,
corporate training programs and volume purchasing.
FULL AVAILABILITY
This setting calculates the results based on the full physical capacity for the
subject property, competitive set and industry segment.
FULL SERVICE HOTEL
Typically Upscale, Upper Upscale and Luxury properties with a wide variety of
onsite amenities, such as restaurants, meeting spaces, exercise rooms or spas.
FURNITURE, FIXTURES, AND EQUIPMENT (FF&E)
FF&E stands for Furniture, Fixtures, and Equipment. This acronym refers to the
movable items in a hotel room that are not part of the building's structure.
This includes items like beds, chairs, curtains, and lamps. FF&E is an important
aspect of hotel design and can greatly impact the guest experience.
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GAMING/CASINO
Property with a major focus on casino operations.
GLOBAL DISTRIBUTION SYSTEM (GDS)
A Global Distribution System (GDS) is a computerized network that provides
travel-related information and booking services to travel agents, travel
management companies, and other travel professionals. GDSs consolidate
information from various travel suppliers and enable users to compare and book
flights, hotels, rental cars, and other travel products. The three main GDSs are
Amadeus, Sabre, and Travelport. GDSs play an important role in the travel
industry, facilitating the booking process and connecting travelers with a wide
range of travel options.
GOLF
Property that includes a golf course amenity as part of its operations. A
property does not qualify if it only has privileges on a nearby course.
GROUP ROOMS
Typically defined as 10 or more rooms per night, sold pursuant to a signed
agreement. Refer to Data Reporting Guidelines for more specific application.
This type of data is included in the Segmentation portion of STR’s reports.
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HOLIDAY CLOSURE
A property is voluntarily closed for a period of time (less than one month),
typically due to a holiday.
HOTEL TYPES
Hotel classifications are driven primarily by building structure and,
secondarily, by service level. Chain management has provided STR with hotel type
classifications for a significant number of locations. Hotel types include:
* All-Inclusive: Property with rooms sold only as a complete package, bundling
overnight accommodations and value-added amenities and services (i.e., food,
beverage, activities and gratuities, etc.)
* All-Suite: Property with guestroom inventory that exclusively consists of
rooms offering more space and furniture than a typical hotel room, including
a designated living area or multiple rooms.
* Bed & Breakfast (B&B) Inn: Independently owned and operated properties that
typically include breakfast in the room rates, 20 rooms or fewer and a
resident/owner innkeeper.
* Boutique: Property that appeals to guests because of its atypical amenity and
room configurations. Boutiques are normally independent (with fewer than 200
rooms), have a high average rate and offer high levels of service. Boutique
hotels often provide authentic cultural, historic experiences and interesting
guest services. Select Boutique chains in the STR database include the
Autograph Collection (Marriott International), Dream Hotel (Wyndham Worldwide
Corporation), Exclusive Hotels, Joie De Vivre, Kimpton Hotels, and Melia
Boutique (Group Sol Melia).
* Condo: Individually and wholly-owned condominium units. Inventory is included
in a rental pool operated and serviced by a management company.
* Conference Center: Property with a major focus on conference facilities. This
type of establishment must adhere to the guidelines of the International
Association of Conference Centers (IACC).
* Convention Center: Property with a minimum of 300 rooms and large meeting
facilities (minimum of 20,000 square feet) and not part of the Conference
Center Group (CCG).
* Destination Resort: Property that appeals to leisure travelers, typically
located in resort markets, and considered a destination in and of themselves
with extensive amenity offerings. These properties are typically larger and
full-service.
* Extended Stay: Properties typically focused on attracting guests for extended
periods. These properties quote weekly rates. The typical length of stay
average for guests is four to seven nights.
* Full Service Hotel: Typically Upscale, Upper Upscale and Luxury properties
with a wide variety of onsite amenities, such as restaurants, meeting spaces,
exercise rooms or spas.
* Gaming/Casino: Property with a major focus on casino operations.
* Golf: Property that includes a golf course amenity as part of its operations.
A property does not qualify if it only has privileges on a nearby course.
* Hotel/Motel: Standard hotel or motel operation.
* Limited Service: Property that offers limited facilities and amenities,
typically without a full-service restaurant. These hotels are often in the
Economy, Midscale or Upper Midscale class.
* Lifestyle Brand: Group of hotels operating under the same brand that is
adapted to reflect current trends. Select lifestyle brand hotels include AC
Hotels by Marriott International, Radisson Red by Carlson and W Hotels by
Marriott International. See Boutique, Soft Brand.
* New Build: Property built from the ground up, not a conversion or building
that was not previously a hotel.
* Ski: Property with onsite access to ski slopes.
* Soft Brand: Collection of properties that allows owners and operators to
affiliate with a major chain while retaining their unique name, design and
orientation. Select soft brand hotels include Ascend Hotel Collection by
Choice Hotels International and Autograph Collection by Marriott
International. See Boutique, Lifestyle Brand.
* Spa: Property with an onsite spa facility and full-time staff offering spa
treatments.
* Timeshare: Property that typically is a resort condominium unit, in which
multiple parties hold property use rights, and each timeshare owner is
allotted a period of time when the property may be used.
* Waterpark: An indoor or outdoor waterpark resort with a lodging establishment
containing an aquatic facility (minimum of 10,000 square feet of waterpark
space) and inclusive of amenities (slides, tubes and a variety of water play
features).
HOTEL/MOTEL
A standard hotel or motel operation.
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INDEX
Measures a hotel’s performance relative to an aggregated grouping of hotels
(i.e., competitive set, market or submarket). We utilize indexes to measure
performance in three key areas: Occupancy, ADR and RevPAR.
An index of 100 means a hotel is capturing a fair share compared to the
aggregated group of hotels. An index greater than 100 represents more than a
fair share of the aggregated group’s performance. Conversely, an index below 100
reflects less than a fair share of the aggregated group’s performance.
INTERIOR/EXTERIOR CORRIDOR
Denotes whether the property has interior or exterior corridors.
INVENTORY
A count of all existing buildings that includes both open and temporarily closed
buildings.
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LARGEST MEETING ROOM SQ. FT.
The largest meeting room – normally, the ballroom.
LATITUDE/LONGITUDE
Angles that uniquely define points on a sphere. Together, the angles comprise a
coordinate scheme that can locate or identify geographic positions on the
surfaces of planets, such as Earth.
LENGTH OF STAY (LOS)
LOS stands for Length of Stay and refers to the number of nights that a guest
stays in a hotel. LOS is an important metric for hotels because it can impact
revenue management and staffing decisions. By understanding LOS trends, hotels
can adjust their pricing and marketing strategies accordingly to optimize
occupancy and revenue.
LIFESTYLE BRAND
Group of hotels operating under the same brand that is adapted to reflect
current trends. Select lifestyle brand hotels include AC Hotels by Marriott
International, Aloft by Starwood Hotels & Resorts Worldwide, Radisson Red by
Carlson and W Hotels by Starwood Hotels & Resorts Worldwide. See Boutique, Soft
Brand.
LIFESTYLE RESORT
A lifestyle resort is a type of hotel or vacation destination designed to cater
to a particular lifestyle or interest. These resorts often offer a range of
activities and amenities that appeal to the preferences of their guests, such as
outdoor recreation, fitness facilities, and wellness programs. They may also
feature unique design elements and dining options that reflect the resort's
theme or philosophy. The goal of a lifestyle resort is to provide a
comprehensive and immersive experience that allows guests to fully engage with
their chosen lifestyle or interest.
LIMITED SERVICE HOTEL
WHAT ARE “LIMITED-SERVICE HOTELS?”
Limited-service hotels are properties that offer select or focused facilities
and amenities, typically without a full-service restaurant. These hotels are
often in the Economy, Midscale or Upper Midscale segments. Limited-service
hotels are often labeled “budget-friendly” and, because of their focused level
of services and amenities, require smaller operational staffs.
HOTEL TYPE FAQS
WHAT’S THE DIFFERENCE BETWEEN A LIMITED-SERVICE AND FULL-SERVICE HOTEL?
The clearest difference between the two categories is their respective
offerings. Full-service hotels commonly offer the following, whereas
limited-service hotels do not:
* Food and beverage venues (restaurant and bar)
* Laundry services
* Shuttle services
* Golf, tennis and/or spa amenities
* Room service
* Expanded fitness centers
WHAT ARE EXAMPLES OF LIMITED-SERVICE HOTELS?
* Common hotel brands that belong to the limited-service category include:
* Candlewood Suites
* Fairfield Inn
* Holiday Inn Express
* Homewood Suites
* La Quinta
* Red Roof Inn
* Wingate Inn
LOCATION SEGMENT
Property classification driven by physical location. Chain management provides
STR with location classifications for a significant number of hotels.
LOCATION TYPE
Property classification driven by physical location regardless of amenities or
services offered. Location types include:
Location Segments and Types include:
* Urban: Densely populated location in a large metropolitan area. (e.g.,
Atlanta, Boston, San Francisco, London, Tokyo).
* Suburban: Suburbs of metropolitan markets. Examples are Sag Harbor and White
Plains, NY (near New York City, USA) and Croydon and Wimbledon (near London,
UK). Distance from center city varies based on population and market
orientation.
* Airport: Hotel in close proximity to an airport that primarily serves demand
from airport traffic. Distance may vary.
* Interstate/Motorway: Property in close proximity to major highway, motorway
or other major roads with the primary source of business via passerby travel.
Hotels located in suburban areas have the suburban classification.
* Resort: Property located in a resort area or market where a significant
source of business is derived from leisure/destination travel. Examples:
Orlando, Lake Tahoe, Daytona Beach, Hilton Head Island, Virginia Beach.
* Small Metro/Town: Area with either a smaller population or remote locations
with limited services. Size varies by market orientation. Suburban locations
do not exist in proximity to these areas. In North America, metropolitan
small town areas are populated with less than 150,000 people.
LODGING
Lodging is an umbrella term that refers to a temporary place to stay, such as a
hotel, motel, or hostel. It can also refer to a vacation rental, short-term
rental, bed and breakfast, or any other type of accommodation that provides
sleeping quarters for travelers. The term is often used in the hospitality
industry to describe the act of providing accommodations to guests.
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MARKET
In the U.S., a market is a geographic area typically made up of a Metropolitan
Statistical Area (e.g., Atlanta, GA), a group of Metropolitan Statistical Areas
(i.e., South Central PA) or a group of postal codes (i.e., Texas North). Outside
the U.S., a market is defined as a city, region or country with at least 30
participating hotels. A market can be further divided into submarkets. See
Submarket.
MARKET CLASS
A combination of market and class for data reporting purposes. See Market,
Class.
MARKET COLLAPSED CLASS
Properties located in a specific market and STR collapsed class segment (i.e.,
Nashville, TN Luxury / Upper Upscale classes).
MARKET COLLAPSED SCALE
Properties located in a specific market and STR collapsed scale segment (i.e.,
Nashville, TN Upscale includes Luxury, Upper Upscale, Upscale chain scales).
MARKET PENETRATION INDEX (MPI)
Measures a hotel’s Occupancy (Occ) performance relative to an aggregated
grouping of hotels (i.e., competitive set, market, submarket). If all things are
equal, a property's Occ Index or MPI is 100 compared to the aggregated group of
hotels (historically described as "fair share"). A MPI greater than 100
represents more than the expected share of the aggregated group’s Occupancy
performance. Conversely, a MPI below 100 reflects less than the expected share
of the aggregated group’s Occupancy performance.
To calculate MPI: (Subject hotel Occ / Aggregated group of hotels’ Occ) x 100 =
Occ Index/MPI
For example, if the subject hotel’s Occ is 80%, and the Occ of its competitive
set is 80%, the subject hotel’s MPI is 100. If the subject hotel’s Occ totals
96%, its MPI is 120, indicating the hotel has captured more than its expected
share. If the subject hotel’s Occ totals 64%, its index is 80, indicating the
hotel has captured less than its expected share.
MARKET SCALE
Properties located in a specified market and Chain Scale segment (i.e., Waikiki,
HI Luxury Chains).
MAX
The highest performance possible for the period, assuming a property operated at
the highest point of the bandwidth during the period.
MEETING SPACE
Space designed for catering and banquet events, used for meal functions and
meeting room sets and physically located on the property. Public convention
center, pre-function space (i.e., lobby), outdoor areas (i.e., lanai or terrace,
etc.) and extra restaurant rooms are not included.
MEETINGS, INCENTIVES, CONFERENCES & EXHIBITIONS (MICE)
This tourism segment represents a significant portion of global business travel
as well as hotel demand on the days of the week that typically cater to business
travelers. Bookings from the MICE segment are usually made well in advance of an
event.
MEMBERSHIP COMPANY
Company in which independently owned and operated lodging properties operate
under a single membership affiliation while sharing a global reservations
system, marketing, advertising, purchasing, training and quality standards with
fewer constraints than a traditional franchise company. Each company member has
a voice in company operations.
METROPOLITAN STATISTICAL AREA (MSA)
In the U.S. only, a MSA is a geographic entity defined by the Office of
Management and Budget (OMB) for use by federal statistical agencies in the
collection, tabulation and publishing of federal statistics. For further
details, refer to the U.S. Census Bureau at Census.gov.
MIN
The lowest performance possible for the period, assuming a property operated at
the lowest point of the bandwidth during the period.
MISCELLANEOUS REVENUE
All revenue not included in rooms, F&B or other operated departments; not
associated with any expenses or are reported net of expenses. This typically
includes income from rentals or leases, resort fees and cancellation fees but
does not include investment income.
MONTH TO DATE (MTD)
Period that starts at the beginning of the current month and ends at the current
date.
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NET GAIN/LOSS
Net gain or loss of rooms during the time period.
NEW BUILD
Property built from the ground up, not a conversion or building that was not
previously a hotel.
NUMBER OF FLOORS
The number of floors or stories in the property.
NUMBER OF ROOMS
Total number of rentable rooms for overnight accommodations.
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OCCUPANCY (OCC)
Percentage of available rooms sold during a specified time period. Occupancy is
calculated by dividing the number of rooms sold by rooms available.
Occupancy = Rooms Sold / Rooms Available
OCCUPANCY INDEX/MARKET PENETRATION INDEX (MPI)
Measures a hotel’s Occupancy (Occ) performance relative to an aggregated
grouping of hotels (i.e., competitive set, market, submarket). If all things are
equal, a property's Occ Index or MPI is 100 compared to the aggregated group of
hotels (historically described as "fair share"). A MPI greater than 100
represents more than the expected share of the aggregated group’s Occupancy
performance. Conversely, a MPI below 100 reflects less than the expected share
of the aggregated group’s Occupancy performance.
To calculate MPI: (Subject hotel Occ / Aggregated group of hotels’ Occ) x 100 =
Occ Index/MPI
For example, if the subject hotel’s Occ is 80%, and the Occ of its competitive
set is 80%, the subject hotel’s MPI is 100. If the subject hotel’s Occ totals
96%, its MPI is 120, indicating the hotel has captured more than its expected
share. If the subject hotel’s Occ totals 64%, its index is 80, indicating the
hotel has captured less than its expected share.
OPEN DATE (YYYYMM)
Year and month a property opened as a lodging establishment for the first time.
OPERATION TYPE
Hotels typically fall under one of three operation types:
1. Chain Managed: Properties are branded and operated by the chain.
2. Franchised: Branded properties operated by a third party that pays franchise
fees or royalties to the chain for the use of its brand name, marketing and
reservation services, etc.
3. Independent: Properties not affiliated with a chain and independently
operated, including all non-branded hotels and select brands that are
membership-based.
OPERATOR/MANAGEMENT COMPANY
Company that manages a property’s operations for its owners, typically in return
for fees and/or revenue share.
OTHER REVENUE
Typically includes revenue outside of rooms and F&B departments.
OWNER
Company that primarily owns, rather than franchises or manages hotels. A given
hotel may have multiple owners.
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PARENT COMPANY
Company that owns one or more brand. Examples include Accor, Choice Hotels
International, InterContinental Hotels Group, Marriott International and Wyndham
Hotels & Resorts.
PERCENT CHANGE (% CHG.)
The amount of change—positive, negative, or flat—expressed as a percentage
comparing a period versus the same period last year. Calculated as ((This Year —
Last Year)/Last Year)*100.
PERCENT CHANGE RANK (OCCUPANCY, ADR, REVPAR)
Subject property's percent change ranked in comparison to the percent change of
each hotel in the competitive set.
PIPELINE
Data that details existing global hotel supply and projected growth and includes
construction data gathered from the major chains and management companies, as
well as data provided by convention and visitors bureaus (CVB), periodicals,
consultant reviews and developers.
PIPELINE PHASES
(Note: The availability of financing, issuance of building permits, owner
commitment and many other factors can alter anticipated completion dates, number
of rooms to be constructed or project viability. The number of projects and
number of rooms in the construction pipeline are subject to change. Projects in
early development stages are less likely to be completed than projects in later
stages.)
* Existing Supply: All properties opened and operating, including those opened
in the last 12 months.
* Recently Opened (Pipeline): Opened within the last 12 months.
* In Construction: Vertical construction on the physical building has begun.
This does not include construction on any subgrade structures including, but
not limited to, parking garages, underground supports/footers or any other
type of sub-grade construction.
* Final Planning: Confirmed, Under Contract projects where construction will
begin within the next 12 months.
* Planning: Confirmed, Under Contract projects where construction will begin in
more than 13 months.
* Unconfirmed: Potential projects that remain Unconfirmed at this time. STR is
unable to verify the existence of these projects through a corporate chain
feed or other verifiable source.
POTENTIAL REVENUE GAIN
This quantitative measurement on a Bandwidth Report indicates the potential
revenue available in the market IF the subject property had achieved the top
RevPAR performance each night of the period. While it is difficult to achieve
this accomplishment consistently, depending on the relevance of the competitive
set, it could be considered an appropriate benchmark. This number also
represents the amount of additional revenue that is available in the comp set,
which is significant in understanding the maximum revenue potential available in
the comp set.
POTENTIAL REVENUE LOSS
Similar to Potential Revenue Gain, this quantitative benchmark on a Bandwidth
Report indicates how much revenue the subject property would have lost if it was
the laggard RevPAR performer for each night of the period. Converse to the
potential gain figure, this figure benchmarks the laggard performance and
illustrates how the subject property is performing relative to the minimum
performances achieved during the period.
PROFIT & LOSS REPORT (P&L REPORT)
Comprehensive set of monthly, annual and custom reports based on revenue and
expense data from hotel operating statements. These reports consist of hotel
revenue and expenses broken down by departments including rooms, food and
beverage, marketing, utilities and maintenance.
PROPERTY (HOTEL)
STR defines a property (hotel) based on three exclusionary criteria:
* 10 or more rooms
* Open to the public (excludes properties requiring membership, affiliation or
club status)
* Generates nightly revenue
Note: A property with fewer than 10 rooms may participate. Floating hotels
(boats) are allowed only if permanently moored and stationary and allowing
guests to depart at any time.
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RANK
Subject property's key performance indicators (KPI) - Occupancy, ADR and RevPAR
- ranked in comparison to the respective KPI of each competitive set property.
Example: “2 of 6” ADR ranking means the subject hotel’s absolute ADR is the
second highest of the six (6) competitors.
REAL ESTATE INVESTMENT TRUST (REIT)
Corporation or trust that uses the pooled capital of many investors to purchase
and manage income property and/or mortgage loans. Typically, they distribute the
majority of earnings directly to shareholders as dividends without taxation at
the corporate level.
REFERRAL COMPANY
Group of independently owned, non-affiliated properties that have banded
together to recommend and refer business. This type of connection typically does
not carry the same involvement and standardized requirements as a membership or
franchise company.
REGIONS (U.S.)
STR groups the U.S. into nine regions:
* New England (Maine, New Hampshire, Vermont, Massachusetts, Connecticut, Rhode
Island)
* Middle Atlantic (New York, Pennsylvania, New Jersey)
* South Atlantic (Maryland, Delaware, West Virginia, Virginia, North Carolina,
South Carolina, Georgia, Florida)
* East North Central (Michigan, Wisconsin, Illinois, Indiana, Ohio)
* East South Central (Kentucky, Tennessee, Alabama, Mississippi)
* West North Central (Minnesota, North Dakota, South Dakota, Iowa, Nebraska,
Missouri, Kansas)
* West South Central (Arkansas, Oklahoma, Texas, Louisiana)
* Mountain (Montana, Idaho, Wyoming, Colorado, Utah, Nevada, Arizona, New
Mexico)
* Pacific (Alaska, Washington, Oregon, California, Hawaii)
RESTAURANT
The STR Census Database defines a restaurant as a full-service venue offering
more than breakfast.
REVENUE (ROOM REVENUE)
Total room revenue generated from the guestroom rentals or sales. Refer to Data
Reporting Guidelines for more specific application.
REVENUE OPPORTUNITY
The Day-of-Week Revenue Opportunity measures the revenue gap, if any, for each
day of the week between your property and the relative performance of the
highest-performing property in your comp set.
REVENUE PER AVAILABLE ROOM (REVPAR)
Total room revenue divided by the total number of available rooms. See Room
Revenue, Rooms Available.
Room Revenue/Rooms Available = RevPAR
REVPAR INDEX/REVENUE GENERATING INDEX (RGI)
Measures a hotel’s RevPAR performance relative to an aggregated grouping of
hotels (i.e., competitive set, market or submarket, etc.). If all things are
equal, a property's RevPAR Index, or RGI, is 100, compared to the aggregated
group of hotels. Historically, this also is described as "fair share."
A RGI greater than 100 represents more than the expected share of the aggregated
group’s RevPAR performance. Conversely, a RGI below 100 reflects less than the
expected share of the aggregated group’s RevPAR performance.
To calculate RGI: (Subject hotel RevPAR / Aggregated group of hotels’ RevPAR) x
100 = RevPAR Index
For example, if the subject hotel’s RevPAR is $50, and the RevPAR of its
competitive set is $50, the subject hotel’s RGI is a total of 100. If the
subject hotel’s RevPAR totals $60, its index is 120, indicating the hotel has
captured more than its expected share. If the subject hotel’s RevPAR totals $40,
its RGI is 80, indicating the hotel has captured less than its expected share.
ROOM ADDITIONS
Rooms added to inventory through expansion, repurposing or reopening after
renovation.
ROOM BLOCK
A room block is a group of hotel rooms that have been reserved for a specific
purpose, such as a conference, wedding, or other event. Room blocks are
typically booked in advance and can be held for a certain period of time, after
which any unreserved rooms are released back to the hotel's inventory. Room
blocks often come with special rates and amenities, and the hotel may require a
deposit or other guarantee to secure the reservation. Room blocks are a
convenient and cost-effective way to accommodate large groups of travelers for
an event or function.
ROOM NIGHTS SOLD
The number of rooms sold in a specified time period (excluding complimentary
rooms). Refer to Data Reporting Guidelines for more specific application.
See: Rooms Sold (Room Demand) and Demand.
ROOMS AVAILABLE (ROOM SUPPLY)
The number of rooms in a hotel or set of hotels multiplied by the number of days
in a specified time period. Refer to Data Reporting Guidelines for more specific
application. See Supply.
Example: 100 rooms in subject hotel x 31 days in the month = Room Supply of
3,100 for the month.
ROOMS REMOVED
Rooms removed from inventory due to being repurposed, part of a full property
renovation or no longer available in the rental pool.
ROOMS SOLD
The number of rooms sold in a specified time period (excludes complimentary
rooms). Refer to Data Reporting Guidelines for more specific application. See:
Demand, Room Demand.
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SAMPLE
The number of properties and rooms that submit performance data to STR.
SEASONAL CLOSURE
The period when a property is closed for at least one calendar month around the
same time each year. Example: A ski lodge is closed during summer or a beach
resort is closed during winter.
SEGMENTATION
Rooms sold and revenue data broken down by customer type (transient, group,
contract). Refer to Data Reporting Guidelines for more specific application.
SIZE
Based on total physical room count of the property. For STR reporting purposes,
properties are grouped according to the following five thresholds:
* Fewer than 75 Rooms
* 75 – 149 Rooms
* 150 – 299 Rooms
* 300 – 500 Rooms
* Over 500 Rooms
SKI
Property with onsite access to ski slopes.
SOCIAL, MILITARY, EDUCATIONAL, RELIGIOUS, AND FRATERNAL GROUPS (SMERF)
SMERF stands for Social, Military, Educational, Religious, and Fraternal groups.
In the hospitality industry, these groups are considered a key market segment
for group bookings. Hotels and event venues often offer specialized services and
amenities to cater to the unique needs and preferences of SMERF groups, such as
meeting spaces, banquet facilities, and discounted rates. SMERF groups are an
important source of business for the hospitality industry, particularly for
midweek and off-season bookings.
SOFT BRAND HOTELS
WHAT IS A SOFT BRAND HOTEL?
A soft brand is an affiliation between an independent hotel and a hotel chain
which can provide hotel operators with lower costs and added flexibility when
compared with traditional franchise agreements. The arrangement allows
independent hotels to retain their existing branding and identity while
benefiting from the chain’s marketing and distribution resources as well as
other potential economies of scale.
Soft brands have grown in prominence in recent years as hotel chains have
diversified their offerings to meet changing consumer behavior. To better
address the needs of modern travelers, especially millennials, some hotel chains
have switched focus from uniformity and brand standards to uniqueness and
personalization when developing their portfolios. This has enabled new
opportunities for independent hotels to affiliate with larger entities to grow
market share.
Fueled by modern traveler needs, there has been a rise in popularity of boutique
hotels and lifestyle brands—hotels which can stand out against traditional
brands due to their unique characteristics. This growth has facilitated
increased interest in soft-branding arrangements between independent hotels and
chains. If done successfully, these agreements can lead to mutually beneficial
outcomes for both parties.
SOFT BRAND HOTEL FAQS
WHAT ARE THE BENEFITS OF SOFT BRANDS FOR HOTELS?
After cost control, one of the main benefits of soft branding for independent
hotels is accessing the chain’s extensive marketing and distribution networks.
This offers opportunities to secure new business through affiliation with the
chain that might not be possible otherwise. Benefitting from the chain’s
corporate agreements and loyalty or reward programs are a few examples how soft
brand hotels can generate new business.
The agreement can also lead to lower commissions from an online travel agency
(OTA) because of the chain’s stronger bargaining power—an added advantage which
can further benefit the hotel’s bottom line.
With traditional franchise agreements, it is common for a hotel to enter a
Product Improvement Plan (PIP) to adhere to specific regulations and standards
required by the chain. For some hotels, this can be an onerous and costly
process. Meanwhile, soft brand agreements tend be based on less strict
agreements, which provide owners and operators with more operational flexibility
and independence. This includes retaining more individual features associated
with the hotel, especially, the name of the hotel itself.
The increased autonomy means that hotel owners and operators can also have more
sway in the day-to-day operations of the hotel, which tends to be more appealing
for stakeholders compared with franchising directly.
WHAT ARE THE BENEFITS OF SOFT BRANDS FOR HOTELS
Highlighting their growing popularity, soft brand supply growth in recent years
has outstripped other hotel types in many global markets. Consequently, there is
an expanding list of soft brand collections, which are typically categorized as
upper upscale class.
Marriott’s Autograph Collection and Curio Collection by Hilton are two
well-known examples of soft brands.
Launched in 2010, the Autograph Collection currently comprises more than 200
hotels worldwide, including properties such as The Cosmopolitan of Las Vegas and
London’s Threadneedles.
Meanwhile, Hilton’s upscale soft brand created in 2014 currently covers around
100 global locations. A few well-known properties include The Westminster London
and Hotel del Coronado, a Victorian property in California which dates back to
the 19th century.
Other popular soft brands include Starwood’s Tribute Portfolio, The Unbound
Collection by Hyatt Hotels and, one of the newer entries to the market, voco
hotels by IHG.
Cultural and historic features are common among soft brand hotels. One example
of a historically significant property which has retained its existing brand
identity and story while being part of a soft brand is New York City’s Lexington
Hotel. Part of Marriott’s Autograph collection, this Art Deco building has
welcomed many famous guests over the years, including Frank Sinatra and Marilyn
Monroe.
Other common features of soft brands, which act as unique selling points, are
food & drink facilities and physical attributes such as rooftop terraces and
health suites. Noteworthy examples include The Gantry in London – part of
Hilton’s Curio Collection – with its rooftop restaurant and bar offering
panoramic views of London and Ravel Hotel, part of Wyndham’s Trademark
Collection, with its vistas of the Manhattan skyline.
SPA
A spa is a facility within a hotel that offers various wellness and beauty
treatments to guests. These treatments may include massages, facials, body
wraps, and other therapeutic services. The spa is designed to provide a relaxing
and rejuvenating experience for guests, with features such as saunas, steam
rooms, and hot tubs. Many hotels offer spa packages that include a combination
of services to enhance the guest's overall experience. Spas are often found in
higher-end hotels and resorts, where they are a popular amenity for those
seeking a luxurious and indulgent experience.
STAR AVAILABILITY
Setting that shows data online, based on the dSTAR Report. Shows the subject
property's reported adjusted or full availability, versus the full availability
of the competitive set and industry segment.
STR ID #
STR's proprietary numbering system. Each hotel in the STR database has a unique
STR Number. This also is known as an STR Code or Census ID.
SUBMARKET
Geographic area that is a subset of a market (i.e., Waikiki, HI in the Oahu
Island, HI market). See Market.
SUBMARKET CLASS
Properties located in a specific submarket and STR class segment (i.e., Waikiki,
HI Upper Upscale Class).
SUBMARKET COLLAPSED CLASS
Properties located in a specific submarket and STR collapsed class segment
(i.e., Waikiki, HI Upscale / Upper Midscale classes).
SUBMARKET COLLAPSED SCALE
Properties located in a specified submarket and STR collapsed scale segment
(i.e., Waikiki, HI Midscale includes Upper Midscale & Midscale chain scales).
SUBMARKET SCALE
Properties located in a specific submarket and STR scale segment (i.e., Times
Square Area Luxury Chains). See Market Tract Scale.
SUITE ROOM
A suite is a type of hotel room that offers more space and amenities than a
standard guest room. Suites typically consist of a bedroom and a separate living
area, which may include a sofa, armchairs, and a dining table. The bedroom area
may feature a king-size bed and high-quality linens, while the living area may
include a mini-fridge, microwave, and flat-screen TV. Suites may also offer
additional perks such as complimentary breakfast, access to a private lounge, or
personalized concierge services. They are a popular choice for travelers seeking
an elevated and more comfortable hotel experience.
SUPPLY (ROOMS AVAILABLE)
Number of rooms in a hotel or set of hotels multiplied by the number of days in
a specified time period. Refer to Data Reporting Guidelines for more specific
application.
Example: 100 rooms in subject hotel x 31 days in the month = Room Supply of
3,100 for the month. See rooms available.
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THIS MONTH VS. LAST MONTH
Amount of growth - positive, negative or flat - this period versus the last
reporting month. Calculated as ((TM-LM)/LM)*100.
THIS YEAR VS. LAST YEAR
Amount of growth - positive, negative or flat - this period versus the same
period last year. Calculated as ((TY-LY)/LY)*100.
TIMESHARE
Property that typically is a resort condominium unit, in which multiple parties
hold property use rights, and each timeshare owner is allotted a period of time
when the property may be used.
TOTAL REVENUE
Revenue from all hotel operations - including rooms, F&B, other revenue
departments (i.e., spa, golf, parking) and miscellaneous revenue (i.e., rentals,
leases, resort fees and cancellation fees).
TOTAL REVENUE PER AVAILABLE ROOM (TREVPAR)
A measure of total operating Revenue Per Available Room (RevPAR), calculated by
sum of room, food and beverage (F&B) and all other operating revenue divided by
total available rooms. See Total Revenue, Total Available Rooms.
Total Revenue/Total Available Rooms= TrevPAR
TOTAL REVENUE PER OCCUPIED ROOM (TREVPOR)
A measure of total operating Revenue Per Occupied Room, calculated by sum of
room, food and beverage (F&B) and all other operating revenue divided by total
rooms sold. See Total Revenue.
Total Revenue/Rooms Sold= TrevPOR
TOTAL ROOM INVENTORY OCCUPANCY
This methodology divides realized demand by the total number of rooms in a
market regardless of operational status. As an example, this methodology does
not reflect temporary closures due to COVID-19.
TRANSIENT ROOMS
Includes rooms sold to individuals or groups occupying less than 10 rooms per
night. This type of data is categorized as "transient" in segmentation
calculations. Refer to Data Reporting Guidelines for more specific applications.
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UNDER CONTRACT PIPELINE
All projects with a current phase of In Construction, Final Planning or
Planning.
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WATERPARK
An indoor or outdoor waterpark resort with a lodging establishment containing an
aquatic facility (minimum of 10,000 square feet of waterpark space) and
inclusive of amenities (slides, tubes and a variety of water play features).
WORLD REGIONS
STR groups the world into four regions and 15 subcontinents:
* Americas (North America, South America, Central America, Caribbean)
* Asia Pacific (Central & South Asia, Northeastern Asia, Southeastern Asia,
Australia and Oceania)
* Europe (Northern Europe, Southern Europe, Eastern Europe, Western Europe)
* Middle East/Africa (Middle East, Northern Africa, Southern Africa)
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YEAR TO DATE (YTD)
Period starting at the beginning of the current year and ending on the current
date.
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