STR, Inc
 | |
| Private | |
| Industry | Hotel |
| Founded | 1985 |
| Founders | Randy and Carolyn Smith |
| Headquarters |
Hendersonville, Tennessee United States |
Area served | Worldwide |
Number of employees | 200 |
| Website | www.str.com |
STR, formerly known as Smith Travel Research, is an American company based in Hendersonville, Tennessee, that tracks supply and demand data for multiple market sectors, including the global hotel industry. STR provides market share analysis for major hotel chains and brands in North America, Europe, Asia Pacific, Middle East and Africa. STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England.
History
STR was founded in 1985 by Randell A. Smith and his wife Carolyn Smith in Lancaster, Pennsylvania.[1] The Smiths built the company with a focus on providing overall performance data and trends to the hotel industry. In the beginning, they developed a database with names, addresses and phone numbers of established hotel companies in the United States to create the Census Database. Randy Smith was contacted by Holiday Inn multiple times and urged to create a market share report. By 1988, the company launched the first Smith Travel Accommodations Report (STAR), a monthly report that includes data from hotels and measures each property’s market share performance against a self-selected competitive set.[2]
STR currently tracks more than 50,000 hotels with over 6.8 million rooms.[3]
STR Global
In 2008, as STR sought to expand its services to markets outside the US, HotelBenchmark, a division of Deloitte UK, and The Bench, a daily benchmarking company, combined businesses to form STR Global. [4] STR continues serving the North American markets, while STR Global caters to a global audience.
STR Global's main office is in London, with regional offices in Italy, Dubai, Brazil, Singapore, Tokyo, Jakarta, Sydney and Beijing.
STR Analytics
STR Analytics, based in Broomfield, Colorado, utilizes the STR database and cross-references it with other data to provide objective trend-based analysis and empirical data about the lodging industry. This is the foundation for all hotels when analyzing data.
2016 Rebrand
In March, 2016, STR announced that its family of companies, including STR, Inc., STR Global and STR Analytics, are now united under one brand: STR.
Hotel News Now
STR launched Hotel News Now in 2008. Hotel News Now provides the global hotel industry with news coverage and hotel analysis that leverages its first access to data from the STR. This division comprises a multimedia website and collection of e-newsletters, including the Daily Update, Tech Impact Report, etc.
Hotel News Now also hosts The Baird/STR Hotel Stock Index, a co-branded index created by Robert W. Baird & Co. and STR. The Index tracks the stock price movements associated with U.S. focused and domestically-based hotel companies.www.hotelnewsnow.com
Hotel News Now is based in Rocky River, Ohio.
References
- ↑ American Hotel & Lodging Association. "Randy Smith to Receive ALIS Lifetime Achievement Award", August 21, 2009, accessed September 9, 2011.
- ↑ Morabito, Andrea. "Randy Smith: Creating a New Standard." A Century of Hospitality. Ed. Len Vermillion. Yardley, PA: McNeill Group Inc., 2009. p.93.
- ↑ Morabito, Andrea. "Randy Smith: Creating a New Standard." A Century of Hospitality. Ed. Len Vermillion. Yardley, PA: McNeill Group Inc., 2009. p.93.
- ↑ Deloitte. "Global Hospitality Analysis: Frequently Asked Questions", June 24, 2009, accessed September 13, 2011.