M

Management company

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

Market

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.

Market Class

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

Market collapsed class

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

Market collapsed scale

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

Market price segments (U.S. only)

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
     

Market scale

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

Max

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

Meeting space

Space designed for catering and banquet events, used for meal functions and meeting room sets and physically located on the property. For STR reporting purposes, public convention center, pre-function space (i.e., lobby), outdoor areas (i.e., lanai or terrace, etc.) and extra restaurant rooms are not included.

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.

Metropolitan Statistical Area (MSA)

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.

Min

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

Miscellaneous revenue

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.

Month to Date (MTD)

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