CoStar launches next generation of STR
The company announced the launch of STR Benchmarking, a transformational market share product for the global hotel industry
STR Benchmarking represents the next generation of STR, with the company’s hotel data benchmarking, analytics and marketplace insights integrated into CoStar’s industry-leading information, analytics, and data-driven news platform.
Key takeaways
- The first release of STR Benchmarking focuses on property-level data and analytics for hotel owners and operators with enhanced functionality built on the foundation of the renowned STAR Report;
- The intuitive, multilingual software also rolls out new functionalities, such as user and competitive set self-management as well as high-frequency updates to data;
- Future product enhancements, which is expected to begin rolling out later this year, include portfolio-level benchmarking, monthly P&L, average-length-of-stay data, and forward-looking occupancy.
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