P

Parent company

Company that owns one or more brand. Examples include Accor Hotels, Choice Hotels International, InterContinental Hotels Group, Marriott International and Wyndham Worldwide Corporation.

Percent change (% Chg.)

The amount of change—positive, negative, or flat—expressed as a percentage comparing a period versus the same period last year. Calculated as ((This Year — Last Year)/Last Year)*100.

Percent change rank (Occupancy, ADR, RevPAR)

Subject property's percent change ranked in comparison to the percent change of each hotel in the competitive set.

Pipeline

Data that details existing global hotel supply and projected growth and includes construction data gathered from the major chains and management companies, as well as data provided by convention and visitors bureaus (CVB), periodicals, consultant reviews and developers.

Pipeline phases

(Note: The availability of financing, issuance of building permits, owner commitment and many other factors can alter anticipated completion dates, number of rooms to be constructed or project viability. The number of projects and number of rooms in the construction pipeline are subject to change. Projects in early development stages are less likely to be completed than projects in later stages.)

  • Existing Supply: All properties opened and operating, including those opened in the last 12 months.
  • Recently Opened (Pipeline): Opened within the last 12 months.
  • In Construction: Vertical construction on the physical building has begun. This does not include construction on any subgrade structures including, but not limited to, parking garages, underground supports/footers or any other type of sub-grade construction.
  • Final Planning: Confirmed, Under Contract projects where construction will begin within the next 12 months.
  • Planning: Confirmed, Under Contract projects where construction will begin in more than 13 months.
  • Unconfirmed: Potential projects that remain Unconfirmed at this time. STR is unable to verify the existence of these projects through a corporate chain feed or other verifiable source.

Potential revenue gain

This quantitative measurement on a Bandwidth Report indicates the potential revenue available in the market IF the subject property had achieved the top RevPAR performance each night of the period. While it is difficult to achieve this accomplishment consistently, depending on the relevance of the competitive set, it could be considered an appropriate benchmark. This number also represents the amount of additional revenue that is available in the comp set, which is significant in understanding the maximum revenue potential available in the comp set.

Potential revenue loss

Similar to Potential Revenue Gain, this quantitative benchmark on a Bandwidth Report indicates how much revenue the subject property would have lost if it was the laggard RevPAR performer for each night of the period. Converse to the potential gain figure, this figure benchmarks the laggard performance and illustrates how the subject property is performing relative to the minimum performances achieved during the period.

Price tier (U.S. Only)

The three categories of a state, STR market or submarket that are defined by actual ADR or APR: 

  • Upper Tier: Top 33% room rates
  • Middle Tier: Middle 33% room rates
  • Lower Tier: Lowest 33% room rates

Profitability Report (P&L Report)

Comprehensive set of annual and custom reports based on revenue and expense data from hotel operating statements. These reports consist of hotel revenue and expenses broken down by departments including rooms, food and beverage, marketing, utilities and maintenance.

Property (hotel)

STR defines a property (hotel) on the basis of three exclusionary criteria:

  • 10 or more rooms
  • Open to the public (excludes properties requiring membership, affiliation or club status)
  • Generates nightly revenue

Note:  A property with fewer than 10 rooms may participate. Floating hotels (boats) are allowed only if permanently moored and stationary and allowing guests to depart at any time.