STR contracts with Fáilte Ireland on hotel performance reporting
LONDON—STR, the leader in data benchmarking and analytics for the global hospitality industry, has signed a contract with Fáilte Ireland, the national tourism development authority, to support measurement and reporting of hotel performance in Ireland.
STR will administer a monthly survey based on internationally recognized methodology and will gather intelligence from hotels across the Republic of Ireland to chart performance and recovery of the sector. Data collected will be provided back to hotels for use as a free benchmarking and management tool with metrics such as occupancy percentage, average daily rate (ADR) and revenue per available room (RevPAR). The third of those metrics is considered by the industry as the gold standard measurement of top-line performance.
In addition, the survey will track source market trends (guest origins), which will provide useful intelligence and insights on the guest profile for Ireland’s hotels. Ireland will also benefit from the ability to benchmark performance internationally by utilizing common methodology that allow like-for-like comparisons with other European destinations.
“We are excited and proud to partner with Fáilte Ireland in providing the country’s hotels with ongoing performance data and insights,” said Sarah Duignan, STR’s director of client relationships. “This will strengthen STR’s presence in Ireland, but more importantly, deliver new and timely insights that will inform hotel revenue management and business decisions. The reports will be crucial in maximizing growth opportunities for Ireland’s tourism recovery, and we will be able to hit the ground running as many hotels across Ireland already work with STR and are familiar with our data. We will expand the monthly survey across all 26 counties.”
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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