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
Occupancy Index/Market Penetration Index (MPI)
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.
Open date (YYYYMM)
Year and month a property opened as a lodging establishment for the first time.
Chain Managed (1): Properties are branded and operated by the chain. Franchised (2): 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. Independent (3): Properties not affiliated with a chain and independently operated, including all non-branded hotels and select brands that are membership-based.
Typically includes revenue outside of rooms and F&B departments. Definitions may vary according to STR product type. Refer to Data Reporting Guidelines for more specific application (i.e., STAR, F&B STAR, HOST or P&L).
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.