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...
Furniture, Fixtures, and Equipment (FF&E)
FF&E stands for Furniture, Fixtures, and Equipment. This acronym refers to the movable items in a hotel room that are not part of the building's structure. This includes items like beds, chairs, curtains, and lamps. FF&E is an important aspect of hotel design...
Cost Per Occupied Room (CPOR)
Cost Per Occupied Room (CPOR) is an indicator of operational efficiency. CPOR measures the total operating expenses for a specific period divided by the total number of occupied rooms during that same period. CPOR encompasses all costs associated with running a hotel...
Complimentary Service
In the hospitality world, complimentary services refer to any amenity that is provided to a guest free-of-charge. Common complimentary services include things like Wi-Fi, breakfast, parking, fitness centers, toiletries, and more. Hotels use these services to attract ...
Composite Property
An aggregate of multiple, anonymous properties that acts as one individual property. The hotels that make up this Composite Property are anonymized and chosen automatically by STR’s proprietary methodology that weighs objective criteria such as location, performance,...
Lifestyle Resort
A lifestyle resort is a type of hotel or vacation destination designed to cater to a particular lifestyle or interest. These resorts often offer a range of activities and amenities that appeal to the preferences of their guests, such as outdoor recreation, fitness fa...
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...
Inventory
A count of all existing buildings that includes both open and temporarily closed buildings.
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...
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.
Market Penetration Index (MPI)
Measures a hotel’s Occupancy (Occ) performance relative to an aggregated grouping of hotels (i.e., competitive set, market, submarket). If all things are equal, a property's Occ Index or MPI is 100 compared to the aggregated group of hotels (historically described as...
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...