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WASHINGTON — CoStar Group has launched STR Benchmarking, a transformational marketshare product for the global hotel industry. Future product enhancements, which are expected to begin rolling out later this year, include portfolio-level benchmarking, monthly P&L, average-length-of-stay data and forward-looking occupancy.
The ADR is the average rate at which each room at the hotel was sold on a given day. It is calculated by taking the Average room revenue and dividing it by the total number of rooms sold. This MPI metric can serve as a perfect way or assistance to map your hotel’s marketshare within comparison with your competitors.
From understanding top-performing channels to finding new revenue opportunities to enhance the guest experience, data analytics touches every department. This data can then be used to make changes to improve revenue management, occupancy, guest experience, and operational efficiency. Revenue management KPIs.
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