What does STR stand for?

Smith Travel Research, now part of CoStar. STR reports are the industry’s standard hotel benchmarking against a competitive set.

What is a competitive set in an STR report?

A group of comparable hotels, agreed by the owner and operator within STR’s rules, whose aggregated performance the hotel is measured against.

What is a good RevPAR index?

Above 100 means the hotel takes more than its fair share of the set’s rooms revenue. Whether that is good depends on whether the set is the one guests actually choose between.

Can an STR report show why performance changed?

No. It shows what changed relative to the set. The reasons sit in the digital estate, the channels and the stay, which is what the Owner’s Audit reports on.

Is a fee published for the Owner’s Audit?

Fees follow scope, which depends on the property, the season and whether comp set benchmarking is included. We agree it in conversation and are glad to give an early indication.

Comp set, index, share, and the things the report cannot see

Reading an STR report as an owner

The STR report tells an owner where the hotel stands against the set it chose. It cannot tell the owner whether the set is right, or what the guest received.

Published 7 September 2026 · Reviewed 7 September 2026

An STR report benchmarks a hotel’s occupancy, average daily rate and RevPAR against a competitive set of hotels that submit the same data, expressed as indices (100 = fair share) and rankings. It is the standard evidence in owner–operator reviews and management agreement performance tests. Read from the owner’s side, three things matter beyond the indices: who chose the comp set, what the report cannot see, and what to place beside it. The Owner’s Audit is the guest-side evidence the STR report was never designed to hold.

What is in the report

Occupancy index. The hotel’s occupancy against the set’s average.
ADR index. Rate against the set’s average.
RevPAR index. The product of the two, and the number most agreements test.
Market share and rank. The hotel’s share of the set’s room-nights and revenue, and where it ranks.
Trends. Daily, weekly and monthly movement, year on year.

Who chose the comp set

The competitive set is agreed between owner and operator, within STR’s rules on size and mix. An operator naturally prefers a set it can beat; an owner prefers the set a guest actually chooses between. The two are not always the same set. Before reading any index, read the set.

What the report cannot see

Channel and cost. Two hotels with the same RevPAR can have very different direct-booking shares and commission bills.
The other revenue centres. Golf, spa, food and beverage, residences: at a resort, most of the guest’s spend and loyalty.
The digital estate. Whether the hotel surfaces when a guest searches or asks an answer engine, and whether its booking path converts.
The stay. Service quality, asset condition, and how the property behaves when a guest raises a problem.
The competitors as guests see them. The report shows their numbers, not their product.

Placing the audit beside the report

The Owner’s Audit reviews the digital estate before arrival, stays at the asset a minimum of four nights unannounced, and, where commissioned, stays silently at the comp set too. The result is the column the STR report lacks: what each property in the set actually delivers, and why the indices look the way they do. An owner arrives at the operator review with the numbers and the reasons.

Questions owners ask

What does STR stand for?
Smith Travel Research, now part of CoStar. STR reports are the industry’s standard hotel benchmarking against a competitive set.
What is a competitive set in an STR report?
A group of comparable hotels, agreed by the owner and operator within STR’s rules, whose aggregated performance the hotel is measured against.
What is a good RevPAR index?
Above 100 means the hotel takes more than its fair share of the set’s rooms revenue. Whether that is good depends on whether the set is the one guests actually choose between.
Can an STR report show why performance changed?
No. It shows what changed relative to the set. The reasons sit in the digital estate, the channels and the stay, which is what the Owner’s Audit reports on.
Is a fee published for the Owner’s Audit?
Fees follow scope, which depends on the property, the season and whether comp set benchmarking is included. We agree it in conversation and are glad to give an early indication.

The Owner’s Audit

An in-residence hotel audit of the digital estate and the guest experience, commissioned by the owner rather than the operator. Unannounced, not silent. For luxury family resorts, golf resorts and five-star resorts in Europe.

Read how the Owner’s Audit runs

Engagements begin with a conversation: reachme@amirsani.com