R

Rank

Subject property's key performance indicators (KPI) - Occupancy, ADR and RevPAR - ranked in comparison to the respective KPI of each competitive set property. 
Example: “2 of 6” ADR ranking means the subject hotel’s absolute ADR is the second highest of the six (6) competitors.

Real Estate Investment Trust (REIT)

Corporation or trust that uses the pooled capital of many investors to purchase and manage income property and/or mortgage loans. Typically, they distribute the majority of earnings directly to shareholders as dividends without taxation at the corporate level.

Referral company

Group of independently owned, non-affiliated properties that have banded together to recommend and refer business. This type of connection typically does not carry the same involvement and standardized requirements as a membership or franchise company.

Regions (U.S.)

STR groups the U.S. into nine regions:

  • New England (Maine, New Hampshire, Vermont, Massachusetts, Connecticut, Rhode Island) 
  • Middle Atlantic (New York, Pennsylvania, New Jersey)
  • South Atlantic (Maryland, Delaware, West Virginia, Virginia, North Carolina, South Carolina, Georgia, Florida)
  • East North Central (Michigan, Wisconsin, Illinois, Indiana, Ohio)
  • East South Central (Kentucky, Tennessee, Alabama, Mississippi)
  • West North Central (Minnesota, North Dakota, South Dakota, Iowa, Nebraska, Missouri, Kansas)
  • West South Central (Arkansas, Oklahoma, Texas, Louisiana)
  • Mountain (Montana, Idaho, Wyoming, Colorado, Utah, Nevada, Arizona, New Mexico)
  • Pacific (Alaska, Washington, Oregon, California, Hawaii)

Restaurant

The STR Census Database defines a restaurant as a full-service venue offering more than breakfast.

Revenue Per Available Room (RevPAR)

Total room revenue divided by the total number of available rooms. See Room Revenue, Rooms Available. 
Room Revenue/Rooms Available = RevPAR

RevPAR Index/Revenue Generating Index (RGI)

Measures a hotel’s RevPAR performance relative to an aggregated grouping of hotels (i.e., competitive set, market or submarket, etc.). If all things are equal, a property's RevPAR Index, or RGI, is 100, compared to the aggregated group of hotels. Historically, this also is described as "fair share."

A RGI greater than 100 represents more than the expected share of the aggregated group’s RevPAR performance. Conversely, a RGI below 100 reflects less than the expected share of the aggregated group’s RevPAR performance. 

To calculate RGI: (Subject hotel RevPAR / Aggregated group of hotels’ RevPAR) x 100 = RevPAR Index

For example, if the subject hotel’s RevPAR is $50, and the RevPAR of its competitive set is $50, the subject hotel’s RGI is a total of 100. If the subject hotel’s RevPAR totals $60, its index is 120, indicating the hotel has captured more than its expected share. If the subject hotel’s RevPAR totals $40, its RGI is 80, indicating the hotel has captured less than its expected share.

Room additions

Rooms added to inventory through expansion, repurposing or reopening after renovation.

Revenue (room revenue)

Total room revenue generated from the guestroom rentals or sales. Refer to Data Reporting Guidelines for more specific application.

Room nights Sold

The number of rooms sold in a specified time period (excluding complimentary rooms).  Refer to Data Reporting Guidelines for more specific application.


See: Rooms Sold (Room Demand) and Demand.

Rooms available (room supply)

The number of rooms in a hotel or set of hotels multiplied by the number of days in a specified time period. Refer to Data Reporting Guidelines for more specific application. See Supply.


Example: 100 rooms in subject hotel x 31 days in the month = Room Supply of 3,100 for the month.

Rooms removed

Rooms removed from inventory due to being repurposed, part of a full property renovation or no longer available in the rental pool.

Rooms sold

The number of rooms sold in a specified time period (excludes complimentary rooms). Refer to Data Reporting Guidelines for more specific application. See: Demand, Room Demand.