The Benchmarking (STR) topic is a comprehensive data set designed to provide in-depth insights into your market position by leveraging historical competitor benchmarking data.
What is included in this data set?
Primary Comp Set: Evaluate your historical performance against your primary comp set, highlighting a comparison between this set and your "My Property" data.
Key Performance Indicators (KPIs): Track core metrics such as Occupancy, ADR (Average Daily Rate), Revenue, RevPAR (Revenue Per Available Room), and TrevPOR (Total Revenue per Occupied Room). These metrics give a holistic view of both rooms and other revenue streams like Food & Beverage (F&B) and Other revenues.
KPI Indexes: Measures a hotel's performance relative to the comp set. Calculated as (Property ADR / Comp Set ADR) * 100. An index greater than 100.0 represents more than the expected share of the property or comp set's performance while an index below 100.0 reflects less than the expected share of performance.
Enriched Data Layers: Utilize Area and Brand data enrichments to conduct portfolio-level analysis, enhancing your understanding of how your properties perform within their respective markets and brand categories.
How does STR compile your data into "My Property" data?
Your STR data is compiled from various sources and prioritized for accuracy to ensure you receive the most reliable information. Some of you submit data directly from your Property Management Systems (PMS) or Revenue Management Systems (RMS), which ensures regular and consistent updates through an automated process. Others manually submit data through our platform, allowing for flexibility and immediate updates when needed. Additionally, many of you have data submitted through your corporate offices, involving aggregated data from multiple properties to ensure consistency with corporate standards.
STR prioritizes these submissions to display the most accurate data:
Corporate Feed: Highest priority, offering consolidated and vetted data.
Manual Submissions: Can override corporate data for immediate updates or corrections.
PMS/RMS Submissions: Lower priority but ensures consistent automated updates.
The data you see are “winning records,” meaning it’s the highest priority data available, ensuring you always have the most authoritative information. This process ensures you receive the most accurate and prioritized data for informed decision-making.
What can I do with this data?
Leverage Insights' fully customizable analysis features, including flexible date ranges and drill-down capabilities, to focus on specific periods like city-wide events and reduce data noise. Utilize KPI indexes to identify over- or under-indexing, explore macro segments, and integrate booking data from the Bookings topic for deeper insights into performance drivers.
Additionally, achieve a holistic overview of individual properties across brands, regions, and portfolios by combining Benchmarking (STR) data with bookings information. This comprehensive approach aligns historical performance with forecasts and budgets, providing detailed insights ideal for both in-depth reviews and regular reporting cycles.
How do I use this explore?
Read our detailed article, "Understanding Data Differences Between Insights and STR", to grasp how this topic’s data can differ from traditional STR reports and how to integrate this information into your broader business strategies.
For more guidance or specific inquiries about integrating and leveraging this data, please refer to the Insights help documentation or reach out to our Advisory team for personalized support.