WASHINGTON – 18 June 2024 – CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets announced today that it will grant STR’s hotel data subscribers with access to the full CoStar product.
“Today, CoStar becomes the product for tens of thousands of hotel users worldwide,” said Andy Florance, Founder and Chief Executive Officer of CoStar Group. “With access to the full product offering, hotel owners, operators and brand representatives will gain comprehensive insights across all commercial asset categories, enabling them to refine their sales strategy and identify new investment opportunities.”
CoStar will enable hotel users to leverage multi-segment market analytics and forecasts, tapping into a vast tenant database comprising 7.8 million spaces, an inventory encompassing 6.7 million properties, a pipeline tracking 79,000 projects, and a transactions database containing 4.2 million sales comps.
The latest iteration of STR’s industry-leading benchmarking solution debuted within the CoStar product in May 2023. The comprehensive, multi-lingual solution is built upon a foundation of core historical metrics, delivering an enriched STAR Report, detailed property and portfolio-level insights, and advanced visualizations tailored to streamline revenue and performance management, operations, sales & marketing and finance.
“CoStar is our product and our investment in the future of the industry,” said Amanda Hite, STR President. “Last year's launch was just the beginning of our journey toward this significant milestone. While confidential performance benchmarking remains the focus, the extension of CoStar's commercial intelligence enhances the solution we provide our hotel clients, covering every aspect of the property lifecycle.”
STR's extensive subscriber network spans over 80,000 properties across the Americas, Europe, the Middle East/Africa, and the Asia Pacific region.
For more information about the company and its products and services, please visit CoStarGroup.com.
News Media Contact
Haley Luther
Senior Communications Manager – STR
(216) 278-0627
hluther@str.com
ABOUT COSTAR GROUP, INC.
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attracted 170 million quarterly average monthly unique visitors for the first quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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