Glossary

STR Report (Hotel Benchmarking Report)

Also known as: Smith Travel Research Report, STAR Report, STR

A recurring performance benchmarking report, most commonly produced by STR (formerly Smith Travel Research, now part of CoStar), comparing a subject hotel's occupancy, ADR, and RevPAR against its defined competitive set on a daily, monthly, and trailing basis.

STR reports are the hospitality industry's de facto standard data product because participation is reciprocal — a hotel must submit its own daily performance data to receive comp-set benchmarking data in return — producing a dataset with far higher coverage and reliability than voluntary or third-party-scraped alternatives; lenders and franchisors alike treat a subscription and monthly report delivery as a standard covenant in hotel loan agreements and management contracts. Beyond raw occupancy, ADR, and RevPAR trend lines, an STR report's core analytical output is its set of index metrics — occupancy index, ADR index, and RevPAR index — that normalize the subject's performance against its comp set's, and both loan covenants and incentive-fee performance tests are frequently drafted directly around these index thresholds rather than absolute dollar figures, since indices control for market-wide swings outside any single operator's control.