A
 |
ADR (Rate) Index
An ADR index is designed to measure a property's fair share of Segment's(comp set, market, tract, etc.) average daily rate (ADR).
Hotel ADR/Segment ADR x 100 = ADR Index
|
|
|
Airport
Lodging properties located near an airport (usually within 5 miles) which derive a significant amount of demand from the airport.
|
|
|
Average Daily Rate (ADR)
Room revenue divided by rooms sold.
|
|
|
Average Published Rate (APR)
The average of single low, single high, double low and double high published room rates. When hotels in U.S. Lodging Census do not report data to STR, an estimate of actual ADR is derived using published rates to stratify non-reporters in various applications. Average published rates for non-reporters are factored down based on a regression equation which determines the relationship between average published rates and actual average daily rates for properties which do report data to STR.
|
|
C
|
Census
The total number of properties and rooms in a segment.
|
|
|
Chain Scale
The chain scale segments are based primarily on the actual, system-wide average room rates of the major chains (independent hotels are included as a separate category). The chain scale segments are shown below:
Luxury
Upper Upscale Chains
Upscale Chains
Midscale Chains with F & B (Food & Beverage)
Midscale Chains without F & B (Food & Beverage)
Economy Chains
Independents
|
|
|
Classification A
All Middle & Lower Tier Independent and Upscale through Economy Chain Hotels located in designated resort Tracts.
|
|
|
Classification B
All Upper Tier Independent Hotels and Upper Upscale Chain Hotels located in designated resort Tracts.
|
|
|
Classification C
Destination Resorts located in designated resort Tracts.
|
|
|
Competitive Set
A competitive set consists of a group of four or more properties selected by individual hotel management or a hotels parent company. A competitive set enables hotel managers to compare property performance with the aggregate performance of their direct competition. A single hotel or brand can comprise a maximum of 35 percent of the reporting rooms of any competitive set in order to protect proprietary data. The subject property may or may not be included in their competitive set, depending on the version of STAR the hotel is receiving. DaySTAR competitive set reports (Weekday/Weekend, Daily by Monthly, and Daily by Week) always exclude the subject hotel.
|
|
|
Contract
Rooms occupied at rates that are stipulated by contracts including airline crews and permanent guests. Room allotments that do not require guaranteed use or payment should not be classified as contract. Rooms sold under such allotments should be classified as transient.
|
|
E
|
Extended Stay
Category comprised of properties that focus on attracting hotel guest for extended periods of time. These properties quote weekly rates, and their typical guest may stay 4-7 nights.
Upper Tier Extended Stay
Middle Tier Extended Stay (currently not in use)
Lower Tier Extended Stay
|
|
F
|
Food & Beverage (F&B) Revenue
Revenues derived from the sale of food, including coffee, milk, tea and soft drinks.
Revenues derived from the sale of beverages including, beer, wine, liquors and ale, including banquet beverage revenues.
Revenues derived from other sources such as meeting room rentals, audio-visual equipment rentals, cover or service charges or other revenues within the food and beverage department. (Includes Banquet Services Charges)
|
|
G
|
Group
Includes rooms occupied which were sold simultaneously in blocks of a minimum of ten (10) rooms or more (e.g. group tours, domestic and international groups, association, convention and corporate groups).
|
|
I
|
Index
STR utilizes indexes to measure a property's performance in three key areas: Occupancy, ADR and
RevPAR. An index of "100" indicates that the property has captured its fair share. Anything greater
than 100 indicates a property is capturing more than its fair share, while anything below 100
indicates the property is capturing less than its fair share.
|
|
L
|
Location Segment
Hotel classifications driven by physical location. Chain management has provided STR with location classifications for a significant number of properties. Location segments include:
Urban - Urbanized areas in metropolitan areas of 150,000 and up. Population size can vary dependent on market orientation
Suburban - Suburbs of urbanized areas. Distance from center city varies based on population and market orientation.
Airport - Properties in close proximity of International Airports that primarily serve demand emanating from airport traffic. Distance from airports varies.
Interstate - Properties in close proximity of major interstate highways whose primary source of business is through interstate travel. Interstate properties located in suburban areas have the suburban classification.
Resort - Properties located in resort areas where the primary source of business is from leisure destination travel.
Small Metro/Town - Metropolitan smalltown areas with less than 150,000 people. Size can vary dependent on market orientation. Suburban locations do not exist in proximity to these areas.
|
|
M
|
Market
A geographic area composed of a Metropolitan Statistical Area (i.e. Atlanta, GA), a group of Metropolitan Statistical Areas (i.e. South Central Pennsylvania) or a group of counties (i.e. Texas North). A market must contain a sufficient number of hotels to permit further subdivision into tracts and price segments. There are currently 162 U.S. STR markets.
|
|
|
Market Price Segments
The five categories of a metro STR market which are defined by actual or estimated average room rate. The five price categories are shown below:
Luxury - top 15% average room rates
Upscale - next 15% average room rates
Mid-Price - middle 30% average room rates
Economy - next 20% average room rates
Budget - lowest 20% average room rates
In rural or non-metro STR markets, the luxury and upscale segments collapse into the upscale and
form four price segment categories:
Upscale - top 30% average room rates
Mid-Price - next 30% average room rates
Economy - next 20% average room rates
Budget - lowest 20% average room rates
|
|
|
Market Share
Total room supply, room demand or room revenue as a percent of some larger group.
|
|
|
Market Tract
A geographic area which is a subset of an STR market. If a market tract is a subset of an MSA defined market; counties and/or zip codes are used to define the market tract boundaries. If a market tract is a subset of a county defined market, zip codes are used to define the market tract boundaries. There are currently 613 U.S. tracts.
|
|
|
Market Tract Scale
This segment is similar to market scale with the following exceptions: luxury, upper upscale and upscale are combined to form upscale and midscale chains with F & B and midscale chains w/o F & B are combined to form midscale. The market tract scales are:
Upscale
Midscale
Economy
|
|
O
|
OCC (Penetration) Index
An index is designed to measure a property's share of Segment's(comp set, market, tract, etc.) demand (rooms sold)
Hotel Occupancy/Segment Occupancy x 100 = OCC Index
|
|
|
Occupancy
Rooms sold divided by rooms available.
|
|
|
Other Revenue
Includes all other revenue excluding room revenue and F&B revenue.
Other Revenue = Total Revenue - (Room Revenue + F&B Revenue)
|
|
P
|
Price Tier
The three categories of a state, STR market or market tract which are defined by actual average daily room rate or average published rate. The three categories are:
Upper Tier - top 33% room rates
Middle Tier - middle 33% room rates
Lower Tier - lowest 33% room rates
|
|
|
Property Types
Hotel classifications driven primarily by building structure and secondarily by service level. Chain management has provided STR with property type classifications for a significant number of locations. Property types include:
Gaming - Lodging properties that place major focus on casino operations
Convention - Lodging properties that place major focus on convention operations. These properties offer or are located near convention facilities.
Conference - Lodging properties that place major focus on conference operations. Properties must meet guidelines of the International Association of Conference Centers. IACC, St. Louis, Missouri (314) 993-8575.
All-Suite - Properties that offer only suite room accommodations. Suite rooms will be the only type of room offered at properties that fall in the All-Suite category.
Hotel/Motel - A standard hotel or motel operation
|
|
R
|
Regions
There are nine that divide the United States:
New England (Maine, New Hampshire, Vermont, Massachusetts, Connecticut, Rhode Island)
Middle Atlantic (New York, Pennsylvania, New Jersey)
South Atlantic (Maryland, Delaware, West Virginia, Virginia, North Carolina, South Carolina, Georgia, Florida)
East North Central (Michigan, Wisconsin, Illinois, Indiana, Ohio)
East South Central (Kentucky, Tennessee, Alabama, Mississippi)
West North Central (Minnesota, North Dakota, South Dakota, Iowa, Nebraska, Missouri, Kansas)
West South Central (Arkansas, Oklahoma, Texas, Louisiana)
Mountain (Montana, Idaho, Wyoming, Colorado, Utah, Nevada, Arizona, New Mexico)
Pacific (Alaska, Washington, Oregon, California, Hawaii)
|
|
|
RevPAR (Yield) Index
An RevPAR index is designed to measure a property's fair share of Segment's(comp set, market, tract, etc.) Revenue Per Available Room (RevPAR).
RevPAR/Segment RevPAR x 100 = RevPAR Index
|
|
|
Room Revenue
Revenue from guests who guaranteed their arrival but did not show should be included in room revenue when collection is reasonably assured.
Only revenue generated from guestroom rental should be included in room revenue. Revenue produced from food and beverage (e.g. F.A.P., M.A.P., etc.) or other sources, which are included in package rates, should be excluded from room revenue figures reported to STR. Room revenue reported to STR should also exclude rebates, refunds, overcharges and taxes.
Fees received due to cancellations (generally advance deposits for meetings, conventions, groups, guest sleeping room blocks, etc.) should not be included in room revenue reported to STR. Revenue of this nature is usually credited to the “rentals and other income” section of the property’s financial statement.
Fees received due to early departures should not be included in room revenue reported to STR
|
|
|
Room Revenue
Total room revenue generated from the sale or rental of rooms.
|
|
|
Room Revenue Per Available Room (RevPAR)
Room revenue divided by rooms available (occupancy times average room rate will closely approximate RevPAR).
|
|
|
Rooms Available (Room Supply)
The number of rooms times the number of days in the period.
|
|
|
Rooms Sold (Room Demand)
The number of rooms sold (excludes complimentary rooms).
|
|
S
|
Sample
The number of properties and rooms in a segment from which data is received.
|
|
T
|
Total Revenue (from PLUS report only)
Includes all revenue from hotel. Room, F&B, parking, laundry, phone, miscellaneous, etc.
|
|
|
Tract
Please see Market Tract.
|
|
|
Transient
Includes rooms occupied by those with reservations at Rack, Corporate, Corporate Negotiated, Package, Government, or foreign traveler rates. Also includes occupied rooms booked via third party web sites (exception: simultaneous bookings of ten or more rooms which should be defined as group).
|
|