How do you read a Star report for a hotel?

How do you read a Star report for a hotel?

Here are a few of the main terms that you’ll see throughout the report:

1. Occupancy = Rooms Occupied / Total Number of Rooms. Occupancy is expressed as a percentage, like 78%.
2. ADR (Average Daily Rate) = Total Revenue / Number of Rooms Sold.
3. RevPAR (Revenue per Available Room) = Total Revenue / Total Number of Rooms.

What is meant by running 3 month or running 12 month on the STR report?

a. The Total Current Month and Running 3 Month Occupancy for both your hotel and the Competitive Set are greater than the Year To Date and Running 12 Month Occupancies.

What are the most important three tabs in a monthly Star report?

What are the most important three tabs? The most important tabs in a monthly Star report are Tab 2, 3, and 4. Tab 2 provides you with a general overview of your KPIs and hotel performance. On Tab 2 you can find Indexes, percent changes, Occ, ADR, and RevPAR.

How do you analyze hotel performance?

Metrics such as the revenue per available room (RevPAR), the average daily rate (ADR) or the average occupancy rate (OCC) can be used to measure sales performance. The market penetration index (MPI) and the revenue generated index (RGI) can help evaluate how a hotel is performing on the market.

What does str mean in hospitality?

Smith Travel Research
Founded in 1985, Smith Travel Research (STR) has had the singular focus of collecting, analyzing and reporting hotel industry data. Since 1988, STR has released a monthly market share report and acts as a census database for all things hospitality, from competitive benchmarking to consumer research.

How is MPI str calculated?

Market Penetration Index (MPI) You can calculate it by dividing your hotel’s occupancy rate by that of your comp set and multiplying the result with 100.

Which of the following is an accurate statement regarding how Hotels submit data to STR?

Which of the following is an accurate statement regarding how hotels submit data to STR? There are comprehensive error check programs to catch inaccurate data. In which of the following situations will Occupancy in a specific market increase?

What is the Star report Why is it important?

A benchmark used to evaluate a hotel’s performance against its competitive set. The Smith Travel Accommodations Report (STAR Report) tracks matters such as: Occupancy Rate. Average Room Rate.

What is KPI in hotel?

Hotel KPI or Hotel Key Performance Indicator is the value that can be measured and which lets you set a standard to measure the success rate of your hotel business as to how is it faring in the market. These KPIs range from the daily operations to financial performance to sales and marketing and customer service.

What means rack rate?

The hotel rack rate is the price that a hotel charges for a room before any discounts have been applied. It is sometimes referred to as the published rate and is usually set artificially high, which means that discounts can look extremely generous by comparison.

What is C form in a hotel?

“The C-form is mandatory for every foreigner while checking into a hotel, and the visitor has to give passport number, phone number, purpose of visit, visa details and country. They would have to visit the FRO for verification,” added Patil.

What is a star hotel report?

STAR Benchmarking. The STAR program is used by the global hotel industry as a vital revenue management tool. The report benchmarks a hotel’s performance against its competitive aggregate and local market. The STAR program tracks and delivers monthly, weekly and daily data.

What do hotel star ratings really mean?

In the United States, there is no uniform measure that determines a hotel’s star rating. Each hotel is rated based on details that often don’t matter to consumers, such as the amount of tax a hotel pays annually. Similarly, star ratings are conferred upon hotels by several organizations.

What is a Star report?

The Star Summary Report is a Consolidated report that summarizes scores for one Renaissance Place Star product that is installed on the server and registered by at least one school. You can print this report for Star Reading, Star Math, or Star Early Literacy.

How are hotels rated?

How are Hotels Rated. Hotels are typically rated according to their quality. This quality is measured by the facilities and amenities provided by the hotel. Elements like room size, additional amenities, view, ease of access, food, entertainment, spas, fitness centers and locations will be considered in the classification of hotels.