Length of Stay (LOS)
LOS stands for Length of Stay and refers to the number of nights that a guest stays in a hotel. LOS is an important metric for hotels because it can impact revenue management and staffing decisions. By understanding LOS trends, hotels can adjust their pricing and mar...
Room block
A room block is a group of hotel rooms that have been reserved for a specific purpose, such as a conference, wedding, or other event. Room blocks are typically booked in advance and can be held for a certain period of time, after which any unreserved rooms are releas...
Global Distribution System (GDS)
A Global Distribution System (GDS) is a computerized network that provides travel-related information and booking services to travel agents, travel management companies, and other travel professionals. GDSs consolidate information from various travel suppliers and en...
Social, Military, Educational, Religious, and Fraternal groups (SMERF)
SMERF stands for Social, Military, Educational, Religious, and Fraternal groups. In the hospitality industry, these groups are considered a key market segment for group bookings. Hotels and event venues often offer specialized services and amenities to cater to the u...
Best Available Rate (BAR)
BAR rate stands for Best Available Rate and refers to the lowest rate offered by a hotel for a particular room type on a given day. This rate is typically available to any guest who books directly with the hotel, either online or over the phone. The BAR may fluctuate...
Canada hotel ADR and RevPAR reached record-highs in July
Canada’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to CoStar’s July 2023 data. CoStar is a leading provider of online real estate marketplaces, information and analytics in ...
U.S. hotel results for week ending 19 August
Following seasonal patterns, U.S. hotel performance declined from the previous week but showed most positive comparisons year over year, according to CoStar’s latest data through 19 August.
Inventory
A count of all existing buildings that includes both open and temporarily closed buildings.
Meetings, Incentives, Conferences & Exhibitions (MICE)
This tourism segment represents a significant portion of global business travel as well as hotel demand on the days of the week that typically cater to business travelers. Bookings from the MICE segment are usually made well in advance of an event.
3-Month Average
The value of any given month is computed by averaging the value of that month and the 2 preceding months.
Australia hotel performance normalizing with improvement in business travel
Australia’s recent hotel performance represents normalization as leisure demand has peaked and given way to strengthening in corporate business, according to CoStar and STR analysis that will be presented this week at NoVacancy Hotel + Accommodation Industry Expo. ...
U.S. hotel results for week ending 26 August
Following seasonal patterns, U.S. hotel performance declined from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 26 August.