STR, Inc. is a subsidiary of

CoStar Group CoStar Group, Inc. is an American provider of information, analytics, and marketing services to the commercial property industry in North America and Europe. Founded in 1987 by Andrew C. Florance and based in Arlington, Virginia, the company has ...

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 refr ...

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#Applications, holding all else equal, the unit price for a particular Good (economics), good ...

and

market share Market share is the percentage of the total revenue or sales in a Market (economics), 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 ...

data. The company has a corporate headquarters in

Hendersonville, Tennessee Hendersonville is the most populous city in Sumner County, Tennessee, on Old Hickory Lake. As of the 2020 census the city's population was 61,753. Hendersonville is the fourth-most populous city in the Nashville metropolitan area after Nas ...

, an international headquarters in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, England and offices in

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

Dubai Dubai (Help:IPA/English, /duːˈbaɪ/ Help:Pronunciation respelling key, ''doo-BYE''; Modern Standard Arabic, Modern Standard Arabic: ; Emirati Arabic, Emirati Arabic: , Romanization of Arabic, romanized: Help:IPA/English, /diˈbej/) is the Lis ...

Brazil Brazil, officially the Federative Republic of Brazil, is the largest country in South America. It is the world's List of countries and dependencies by area, fifth-largest country by area and the List of countries and dependencies by population ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

Tokyo Tokyo, officially the Tokyo Metropolis, is the capital of Japan, capital and List of cities in Japan, most populous city in Japan. With a population of over 14 million in the city proper in 2023, it is List of largest cities, one of the most ...

Jakarta Jakarta (; , Betawi language, Betawi: ''Jakartè''), officially the Special Capital Region of Jakarta (; ''DKI Jakarta'') and formerly known as Batavia, Dutch East Indies, Batavia until 1949, is the capital and largest city of Indonesia and ...

Sydney Sydney is the capital city of the States and territories of Australia, state of New South Wales and the List of cities in Australia by population, most populous city in Australia. Located on Australia's east coast, the metropolis surrounds Syd ...

, and

Beijing Beijing, Chinese postal romanization, previously romanized as Peking, is the capital city of China. With more than 22 million residents, it is the world's List of national capitals by population, most populous national capital city as well as ...

. 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

Lakewood, Ohio Lakewood is a city in Cuyahoga County, Ohio, United States, on the southern shore of Lake Erie. Established in 1889, it is one of Cleveland's historical streetcar suburbs and part of the Greater Cleveland, Cleveland metropolitan area. The popula ...

. 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 ( ) is a city in Lancaster County, Pennsylvania, United States, and its county seat. With a population of 58,039 at the 2020 United States census, 2020 census, it is the List of municipalities in Pennsylvania, eighth-most populous ci ...

. 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 by IHG is a chain of hotels based in Atlanta, Georgia and a brand of IHG Hotels & Resorts. The chain was founded in 1952 by Kemmons Wilson (1913–2003), who opened the first location in Memphis, Tennessee. 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 is a multinational professional services network based in London, United Kingdom. It is the largest professional services network in the world by revenue and number of employees, and is one of the Big Four accounting firms, along wi ...

, 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 (economics), index that measures the performance of a stock market, or of a subset of a stock market. It helps investors compare current stock price levels with past prices to calcul ...

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 is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. The city is located in southeast Scotland and is bounded to the north by the Firth of Forth and to the south by the Pentland Hills. Edinburgh ...

Scotland Scotland is a Countries of the United Kingdom, country that is part of the United Kingdom. It contains nearly one-third of the United Kingdom's land area, consisting of the northern part of the island of Great Britain and more than 790 adjac ...

, 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.

Antitrust lawsuit

In February 2024, a proposed consumer

class action A class action is a form of lawsuit. Class Action may also refer to: * ''Class Action'' (film), 1991, starring Gene Hackman and Mary Elizabeth Mastrantonio * Class Action (band), a garage house band * "Class Action" (''Teenage Robot''), a 2002 e ...

lawsuit was filed against CoStar, the parent company of STR, accusing the company of participating in a

price-fixing Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given ...

conspiracy A conspiracy, also known as a plot, ploy, or scheme, is a secret plan or agreement between people (called conspirers or conspirators) for an unlawful or harmful purpose, such as murder, treason, or corruption, especially with a political motivat ...

, in which it allegedly conspired with a group of luxury hotel operators, including Hilton,

Hyatt Hyatt Hotels Corporation, commonly known as Hyatt Hotels & Resorts, is an American multinational corporation, multinational hospitality company headquartered in the 150 North Riverside, Riverside Plaza area of Chicago that manages and franchise ...

, Marriott,

InterContinental Hotels InterContinental Hotels & Resorts by IHG is a British-American luxury hotel brand created in 1946 by Pan Am founder Juan Trippe. It has been part of UK-based InterContinental Hotels Group since 1998. As of January 2023, there were 208 InterCo ...

, Loews, and

Accor Accor S.A. is a French multinational hospitality company that owns, manages and franchises hotels, resorts and vacation properties. It is the largest hospitality company in Europe, and the sixth largest hospitality company worldwide. Accor ope ...

, to keep hotel room prices artificially high, using research reports produced by STR to facilitate the sharing of competitively sensitive information among commercial rivals.

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