Understanding hotel performance benchmarking
George explained the methodology behind STR’s sophisticated global analytics platform. In the fast-changing world of today, tracking supply and demand data for the hotel industry provides valuable market share analysis for both international hotel chains and independents hotels. With more than 50,000 hotels worldwide participating in their performance surveys, STR has the world’s foremost source of historical performance data - that can be offered in standard reports, customised to help forecasting and improve decision making.
“Think of it as having a rear view mirror and a strategic tool to improve your decisions,’’ explained George.
He illustrated his presentation with data to show the effect that ‘terror’ events can have on the hotel industry, and how changes in supply impact on hotel performance. The delegates were also able to see how hotels are performing in their own area using STR reports that can be drilled down to extremely localised areas, helping hotels to develop revenue strategies and achieve competitive advantage.
Emma Gaymer, the School’s Business Development Manager, said: “We are most grateful for George’s contribution to the course. It links our academic knowledge with industry expertise and insight that truly makes our professional development courses exceptional.”
If, like George, you have professional insight and wish to collaborate with us on our courses please email: firstname.lastname@example.org
If you would like more information about hotel performance and STR’s services please contact George at email@example.com
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