Among hotel owners and workers, Smith Travel Research (STR) is synonymous with in-depth market analysis, industry professionals a wealth of data on occupancy rates, average daily rates (ADR), RevPAR, and other critical performance metrics. STR's reports and insights are invaluable tools for benchmarking and strategic decision-making, providing a clear view of market trends, performance comparisons, and opportunities for growth.
Smith Travel Research, known as STR, is a leading source of data benchmarking, analytics, and marketplace insights in the hospitality industry. STR's comprehensive reports cover various performance metrics, including occupancy, ADR, and RevPAR, offering a granular view of the competitive landscape and market dynamics.
Utilizing STR data effectively involves:
STR data is critical for several reasons:
A: Hotels can subscribe to STR's services directly through their website, gaining access to a range of reports and analytics tools tailored to the hospitality industry.
A: Yes, STR provides valuable insights for properties of all sizes, offering customizable data sets to suit diverse market positioning and competitive landscapes.
A: STR data can inform dynamic pricing strategies, optimize distribution channels, and enhance promotional activities by providing a detailed understanding of market demand and competitor pricing.
STR data is the gold standard for competitive benchmarking, but many independent hotels don't fully leverage their reports. We've seen properties improve their MPI by 5-10 points simply by reviewing their STR STAR report monthly and adjusting pricing based on comp set performance. The most actionable metric is RGI - if it's below 1.0, you're leaving revenue on the table relative to your competitors.
— HelloShift Team
STR tells you how you compare on rate and occupancy - but operational metrics explain why. Hotels that pair STR data with real-time housekeeping productivity, guest satisfaction scores, and response-time tracking can pinpoint exactly where they're losing ground to the comp set and fix it.
Properties using HelloShift report 30% reduction in guest complaints, 2x faster issue resolution, and 40% fewer front desk calls thanks to AI Assistant and digital guidebooks.
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