Key Hotel Industry Metrics and Terms

The value of any given month is computed by averaging the value of that month and the 11 preceding months.

The value of any given month is computed by averaging the value of that month and the 2 preceding months.

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.

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.

The year and month the property becomes associated with its current brand or chain.

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.)

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.

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.

Features and services offered at hotels (i.e., restaurant, golf, pool, spa or casino).

A person or entity that is responsible for hotel project design, planning and, in many cases, construction supervision.

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.

A measure of the average rate paid for rooms sold, calculated by dividing room revenue by rooms sold.

ADR = Room Revenue/Rooms Sold

Measured by averaging the range of published room rates for various room sizes (single or double, etc.) during different times of the year. When sample hotels do not report data, published rates are used to estimate actual Average Daily Rate (ADR).

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.

The range of performance among a competitive set indicated by the daily high and low performance of individual competitors.

Independently owned and operated properties that typically include breakfast in the room rates, 20 rooms or fewer and a resident/owner innkeeper.

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.

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" 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.

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.

The total number of hotels and rooms in a particular segment (i.e., country, market or submarket).

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.

Indicator of whether or not an individual hotel has added or removed rooms from their inventory.

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.

Property that is closed permanently or due to renovation and may/may not reopen, depending on the closure reason.

Two combined classes that form a single segment. The collapsed classes are:

• Luxury and Upper Upscale
• Upscale and Upper Midscale
• Midscale and Economy

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

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.

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.

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.

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.

Individually and wholly-owned condominium unit. Inventory is included in a rental pool operated and serviced by a management company.

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).

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.

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).

Rooms added to a chain's inventory from another brand or independent hotel.

Rooms removed from a chain's inventory and added to another brand or independent hotel.

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.

The country or nation where a physical property is located.

In the U.S., a county is a geographic subdivision of a state (or federal territory).

Comparison of daily performance by actual calendar date (1st of January this year vs. 1st of January last year).

Comparison of daily performance by day of week (Monday this year vs. Monday last year).

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).

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.

 A company that prepares a site and builds for commercial use as a lodging facility.

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.

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.

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.

An exchange rate that eliminates the effects of exchange rate fluctuations, using exchange rates from 31 January of the current year.

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.

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.

This setting calculates the results based on the full physical capacity for the subject property, competitive set and industry segment.

Typically Upscale, Upper Upscale and Luxury properties with a wide variety of onsite amenities, such as restaurants, meeting spaces, exercise rooms or spas.

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.

Property with a major focus on casino operations.

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.

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.

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.

A property is voluntarily closed for a period of time (less than one month), typically due to a holiday.

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).

A standard hotel or motel operation.

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.

Denotes whether the property has interior or exterior corridors.

A count of all existing buildings that includes both open and temporarily closed buildings.

The largest meeting room – normally, the ballroom.

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.

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.

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.

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.

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.

Property classification driven by physical location. Chain management provides STR with location classifications for a significant number of hotels. 

Property classification driven by physical location regardless of amenities or services offered. 
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 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.

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.

A combination of market and class for data reporting purposes. See Market, Class.

Properties located in a specific market and STR collapsed class segment (i.e., Nashville, TN Luxury / Upper Upscale classes).

Properties located in a specific market and STR collapsed scale segment (i.e., Nashville, TN Upscale includes Luxury, Upper Upscale, Upscale chain scales).

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.

The five categories of a metropolitan STR market that are defined by actual or estimated average room rate:

• Luxury: Top 15% average room rates
• Upscale: Next 15% average room rates
• Mid-Price: Middle 30% average room rates
• Economy: Next 20% average room rates
• Budget: Lowest 20% average room rates

In rural or non-metro STR markets, the Luxury and Upscale segments collapse into Upscale and form four price segment categories:

• Upscale: Top 30% average room rates
• Mid-Price: Next 30% average room rates
• Economy: Next 20% average room rates
• Budget: Lowest 20% average room rates

Properties located in a specified market and Chain Scale segment (i.e., Waikiki, HI Luxury Chains).

The highest performance possible for the period, assuming a property operated at the highest point of the bandwidth during the period. 

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.

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.

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.

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.

The lowest performance possible for the period, assuming a property operated at the lowest point of the bandwidth during the period.

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.

Period that starts at the beginning of the current month and ends at the current date.

Net gain or loss of rooms during the time period.

Property built from the ground up, not a conversion or building that was not previously a hotel.

The number of floors or stories in the property.

Total number of rentable rooms for overnight accommodations.

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

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.

Year and month a property opened as a lodging establishment for the first time.

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.

Company that manages a property’s operations for its owners, typically in return for fees and/or revenue share.

Typically includes revenue outside of rooms and F&B departments.

Company that primarily owns, rather than franchises or manages hotels. A given hotel may have multiple owners.

Company that owns one or more brand. Examples include Accor, Choice Hotels International, InterContinental Hotels Group, Marriott International and Wyndham Hotels & Resorts.

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.

Subject property's percent change ranked in comparison to the percent change of each hotel in the competitive set.

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.

(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.

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.

STR defines a property (hotel) based on three exclusionary criteria:

• Typically 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.

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.

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.

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.

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)

The STR defines a restaurant as a full-service venue offering more than breakfast.

Room revenue generated from the guestroom rentals or sales. Refer to Data Reporting Guidelines for more specific application.

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.

Total room revenue divided by the total number of available rooms. See Room Revenue, Rooms Available. 
Room Revenue/Rooms Available = RevPAR

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.

Rooms added to inventory through expansion, repurposing or reopening after renovation.

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.

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.

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 from inventory due to being repurposed, part of a full property renovation or no longer available in the rental pool.

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.

The number of properties and rooms that submit performance data to STR.

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.

Rooms sold and revenue data broken down by customer type (transient, group, contract). Refer to Data Reporting Guidelines for more specific application.

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

Property with onsite access to ski slopes.

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.

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.

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.

Geographic area that is a subset of a market (i.e., Waikiki, HI in the Oahu Island, HI market). See Market.

Properties located in a specific submarket and STR class segment (i.e., Waikiki, HI Upper Upscale Class).

Properties located in a specific submarket and STR collapsed class segment (i.e., Waikiki, HI Upscale / Upper Midscale classes).

Properties located in a specified submarket and STR collapsed scale segment (i.e., Waikiki, HI Midscale includes Upper Midscale & Midscale chain scales).

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.

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.

Amount of growth - positive, negative or flat - this period versus the last reporting month. Calculated as ((TM-LM)/LM)*100.

Amount of growth - positive, negative or flat - this period versus the same period last year. Calculated as ((TY-LY)/LY)*100.

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.

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).

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

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

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.

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.

All projects with a current phase of In Construction, Final Planning or Planning.

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).

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)

Period starting at the beginning of the current year and ending on the current date.