STR, Inc. is a division of

CoStar Group CoStar Group, Inc. is a Washington, DC-based provider of information, analytics and marketing services to the commercial property industry in the United States, Canada, the United Kingdom, France, Germany, and Spain. Founded in 1987 by Andrew C. ...

that provides market data on the

hotel industry A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a ref ...

worldwide, including

supply and demand In microeconomics, supply and demand is an economic model of price determination in a Market (economics), market. It postulates that, Ceteris paribus, holding all else equal, in a perfect competition, competitive market, the unit price for a ...

and

market share Market share is the percentage of the total revenue or sales in a market that a company's business makes up. For example, if there are 50,000 units sold per year in a given industry, a company whose sales were 5,000 of those units would have a ...

data. The company has a corporate headquarters in

Hendersonville, Tennessee Hendersonville is the largest city in Sumner County, Tennessee, on Old Hickory Lake. The population was 61,753 at the 2020 census. Hendersonville is the fourth-largest city in the Nashville metropolitan area after Nashville, Murfreesboro, an ...

, an international headquarters in

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

, England and offices in

Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical re ...

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

Tokyo Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.468 ...

Jakarta Jakarta (; , bew, Jakarte), officially the Special Capital Region of Jakarta ( id, Daerah Khusus Ibukota Jakarta) is the capital and largest city of Indonesia. Lying on the northwest coast of Java, the world's most populous island, Jakarta ...

Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ...

, and

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

. STR currently tracks 67,000 hotels with over 8 million rooms in 180 countries. The company is also the publisher of HotelNewsNow, a website with news on the hotel industry, headquartered in

Rocky River, Ohio Rocky River is a city in western Cuyahoga County, Ohio, United States. A suburb of Cleveland, it is located along the shore of Lake Erie approximately west of downtown Cleveland. The city is named for the Rocky River that forms its eastern bor ...

. It is also the sponsor of the Hotel Data Conference.

History

STR was founded in 1985 as Smith Travel Research by Randell A. Smith and his wife Carolyn Smith from their kitchen table in

Lancaster, Pennsylvania Lancaster, ( ; pdc, Lengeschder) is a city in and the county seat of Lancaster County, Pennsylvania. It is one of the oldest inland cities in the United States. With a population at the 2020 census of 58,039, it ranks 11th in population amon ...

. They developed a database with names, addresses and phone numbers of hotels in the United States to create the Census Database. Randy Smith was contacted by

Holiday Inn Holiday Inn is an American chain of hotels based in Atlanta, Georgia. and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson, who opened the first location in Memphis, Tennessee that year. The chain was a division ...

multiple times and urged to create a market share report. In 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. In 2008, the company expanded internationally by acquiring HotelBenchmark, a division of

Deloitte Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...

, and The Bench. In 2008, the company launched HotelNewsNow, a website with news on the hotel industry. In 2010, in partnership with Baird, the company launched the Baird / Smith Travel Research Hotel Stock Index, a

stock market index In finance, a stock index, or stock market index, is an index that measures a stock market, or a subset of the stock market, that helps investors compare current stock price levels with past prices to calculate market performance. Two of the ...

which tracks the stock performance of 15 publicly traded companies in the hotel industry. In 2016, STR acquired LJ Research, a market research agency, which was rebranded as Tourism Consumer Insights. LJ Research was based in

Edinburgh Edinburgh ( ; gd, Dùn Èideann ) is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. Historically part of the county of Midlothian (interchangeably Edinburghshire before 1921), it is located in Lothian ...

Scotland Scotland (, ) is a country that is part of the United Kingdom. Covering the northern third of the island of Great Britain, mainland Scotland has a border with England to the southeast and is otherwise surrounded by the Atlantic Ocean to the ...

, and established in 1998. Lynn Jones, who led the Edinburgh and Lothian Tourist Board's research division, created a spin-off company, LJ Research. Two of LJ Research's products were Visitrac, the company's online survey system that is used for customer feedback, and LJ Forecaster, a hotel benchmarking system that monitored trends based on achieved and future performance. In October 2019, the company was acquired by

for $450 million.

References

External links

STR

HotelNewsNow.com

Hotel Data Conference

Latest Hospitality Updates

Real Time Travel Updates
{{DEFAULTSORT:STR, Inc. 1985 establishments in Tennessee 2019 mergers and acquisitions American companies established in 1985 American corporate subsidiaries Companies based in Tennessee Hospitality companies established in 1985 Travel and holiday companies of the United States Sumner County, Tennessee Travel-related organizations