How to Read and Understand Your Hotel STR Report to Find Opportunities Simplified [Beginner +]
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- čas přidán 5. 09. 2024
- This is an easy to follow along overview on how to read a Hotel STR Report and will lay the groundwork for learning how to read a STR Report. We cover the Glance page, Response page and Competitive Set page. Our video explains how to interpret your ADR (Average Daily Rate), REVPAR (Revenue Per Available Room) and Indexes. We also cover how to choose a competitive set that makes sense and how to find out how your hotel ranks against your competing hotels.
We hope this video helps you! Watch the below video as a follow up
Hotel Data more Informative than a STR Report: • Hotel Data more Inform...
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Extremely helpful. Thanks for posting this.
You're welcome! Thank you
Thank you for posting this video. This was very educational, straight forward and easy to understand. Best regards.
Thank you! Glad you found it helpful.
thank you for this very enlightening video! I have a small question concerning the hotel's choice to include or exclude itself from the competitors: why would a hotel choose to include itself in the competitors? Doesn't this "distort" the data on the competition and prevent comparison? Thank you for the precious help
Hello, hotels are not included in the data on the STR Report. You will see wording on the STR that says "Hotel Data Excludes Subject Property" which simply means the property's numbers are not included
Thank you, your video is very helpful！
Glad to hear that! Thank you for watching. I have another video coming out soon regarding the year end STR Report, stay tuned :-)
Hello, appreciated your video, very helpful. Yet, i have questions about whats the difference between YTD row and Running 12 month? Thank you
Hello glad you found the video helpful. Year to date (YTD) means Jan 1 to the current date of the report. Running 12 Months means the previous 12 months. So for example for a report produced for month end February 2024 YTD numbers would be for Jan 1, 2024 through Feb 29, 2024 and Running 12 numbers would be for March 1, 2023 through Feb 29, 2024.
where do you typically get STR report from?
Hello, if the property reports to STR the owner can access it. The owner also may give access to the GM.
Is there a way to see one of the comp hotels actual performance numbers or just it group the data? Want to compare just 1 of the comp hotels vs. Hope that makes sense.
Hello, yes your question makes sense and the answer is no there is not. For privacy concerns they will never allow a comparison for only 1 property. Also STR is actually strict on how comp sets are chosen as they have to follow certain criteria such as all hotels in the competitive set (response tab) must be an evenly distriubuted mix of various brands.
@@occupancyboost Thank you so much for the response!
Are you available for consulting purposes....if so let me know
hello yes.