Complete the performance picture. Benchmark the future.
STR stands by the hotel industry’s side on the road to recovery. And we continue to seek the answers that are top of mind for our clients: Is performance recovery underway? Are my bookings picking up the same or more than everyone else? Where are the opportunities for additional business? Are our marketing strategies paying off?
With these questions and more in mind, STR has prioritized the scaling of our sample size for occupancy-on-the-books benchmarking. You have likely seen some of these data insights during our complimentary webinars focused on the impact of COVID-19 around the world.
This forward-looking data, powered by Forward STAR, empowers hoteliers worldwide to benchmark their occupancy on the books and pickup against their local markets and competitors for the next 365 days. Made up by 2 key data points in a straightforward format, Forward STAR equips hoteliers with easy-to-analyze information to react and adapt quickly to volatile market conditions.
Market-level also provide other industry stakeholders, such as investors, developers, analysts, OTAs, etc., key insights on the current health and resilience of different areas.
Forward STAR not only helps you strategize more effectively for the future, it also lets you continuously monitor and evaluate the impacts of your decisions for the times ahead.
How it works
Send us your number of rooms available and rooms booked, and start receiving detailed, easy-to-read reports showing how your occupancy on the books and pickup are matching up against the competition. Knowing your time is limited these days, our dedicated integrations team can help you set your data to feed directly to STR using your PMS/RMS or other third-party systems.
To find out more about automating your data click here.
Examples of Forward STAR metrics and data
The complete picture
If you’re already benchmarking your historical data with STR, you have the right tools to stay on top of your results and adjust.
But how do you get ahead of the game?
Pairing your property’s historical benchmarking trends with forward occupancy data provides a broader perspective of your performance – helping you win tomorrow today.
For example, Forward STAR data allows you to look ahead to which nights you are performing better or worse than your competitors. These insights equip you early on to determine whether you need to rethink your rate strategy, distribution methods or marketing initiatives.
Historical benchmarking data then shows you the actualized performance, further confirming the soundness of your strategy.
Articles featuring Forward STAR data
Start benchmarking your occupancy on the books and pickup against your market and competition today