Importance of Smith Travel Research (STR) Report in knowing your competition

Let’s first know what STR report is all about

Smith Travel Research, an american company formerly known as STR provides a monthly report to the hotel industry, which is helps in measuring & benchmarking the hotel performance against other competitive set across the market.

In the hotel industry, Smith Travel Research (STR) Report is not just about providing the market share analysis for the hotel portfolios, but also empowers hoteliers in making better decisions by letting them access actionable insights.

STR currently tracks more than 60,000 hotels with over 8 million rooms.

Hoteliers can utilize this insightful report to view their hotel performance status across the market, while comparing with competitors.

The STR report analysis will cover the segments such as Room Occupancy Percentage, RevPAR – Revenue per Available Rooms and ADR – Average per Daily Rate.

How important STR report is?
If you’re running a hotel, it’s vital to know the pulse of your competition. That’s how you can work on your weak areas and win your competitors to maximize your hotel’s success.

Consistent monitoring of your hotel competition through STR report helps you and your staff invest efforts and energy in the right direction.

Smart hoteliers in the market take this proactive approach to access key insights into their competition and gain maximum advantage out of it.

It’s a vital revenue management boon that lets you seamlessly benchmark your hotel performance against your competitive aggregate across the market.

To increase your hotel bookings and boost revenue, staying connected to the competitive set is very important. Wondering, how to indulge it into your hotel business??

Import STR & know where your stand in the competition

Nimble Property helps you keep a tab on it!

It’s the most loved Accounting solution by the hoteliers across the hospitality industry.

All you got to do is, import the STR data directly into Nimble.

Consolidated dashboard lets you view the performance status of your hotel in the market with Comparison of Competitors.

No matter, you have one hotel or group of hotels STR import facility in Nimble gives you better visibility into all your properties’ competitive set.

View your entire business portfolio’s occupancy percentage, average daily rate (ADR) and RevPar performance against your aggregated performance of the chosen competitive hotels selection.

The STR/STAR program widget in Nimble adds value to your business by acting as an effective revenue management tool, letting you track and access monthly, weekly and daily competitor analysis data.

Within few clicks, you can import the STAR data directly into Nimble by just downloading it from your STAR provider and generate the STR reports for desired time period.

Want to know more? Schedule a demo today! www.nimbleproperty.net

Here’s an explainer video that helps you in reading a STR report.