CoStar Group launched STR Benchmarking, a market share product for the global hotel industry.
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CoStar Group launched STR Benchmarking, a market share product for the global hotel industry.
CoStar acquired STR for $450M in 2019.
STR Benchmarking integrates the company's hotel data analytics and marketplace insights solutions with CoStar's information, analytics, and data-driven news platform.
The first release offers hotel owners and operators functionalities, such as user and competitive set self-management and high-frequency data updates, built on top of the STAR
report.
CoStar is working on adding portfolio-level benchmarking, monthly P&L, average-length-of-stay data, and forward-looking occupancy later this year.
President of STR, Amanda Hite, said the new offering lets its clients optimize their strategic internal collaboration and decision-making across their hotel portfolios.
