Hotel Math Fundamentals: The Metrics used by the Hotel Industry Flashcards
1
Q
How does STR obtain Raw Data?
A
Most raw property sales data is directly exposed from the systems of the hotel companies. This helps increase the reliability of the data.
2
Q
Most _____________ is directly exposed from the systems of the hotel companies. This helps increase _________ of the data.
A
raw property sales data; reliability
3
Q
Companies send STR a _______ each month, week, and/or day
A
raw data file
4
Q
Some hotels and smaller companies enter the data on. _________ which can be used to enter monthly or daily data. Users can also enter ________ via the web-later
A
the STR website; segmentation data
5
Q
Hotel ID, Hotel Name, Date, Rooms Available, Rooms Sold, Room Revenue
A
“Sample” Raw Data
6
Q
Raw Data includes…
A
Hotel ID, Hotel Name, Date, Rooms Available, Rooms Sold, Room Revenue
7
Q
In most cases, companies provide their own…
A
unique hotel identification without a hotel name
8
Q
A daily file would look the same as…
A
a monthly raw data file except for the date field
YYYMMDD
9
Q
A non-US data file would have a…
A
currency indicator (i.e. USD, EUR, GBP)
10
Q
DATA ERROR CHECKS: STR performs a large volume of….
A
comprehensive error checks upon the raw data
11
Q
DATA ERROR CHECKS: New data is compared to prior data for __________
A
consistency
12
Q
DATA ERROR CHECKS: There are ___________ limits related to geography and type of hotel.
A
Occupancy and ADR
13
Q
DATA ERROR CHECKS: STR also tracks special events that would…..
A
cause unusual occupancies and ADR
14
Q
DATA ERROR CHECKS: Any exceptions are verified with…..
A
the data provider (company or hotel) before the data is accepted.
15
Q
STR DATA Guidelines: STR uses a strict set of definitions based on the…
A
UNIFORM SYSTEM OF ACCOUNTS FOR THE LODGING INDUSTRY
16
Q
rooms available
A
SUPPLY
17
Q
the number of rooms in a hotel multiplied by the days in the month
A
SUPPLY
18
Q
(# of rooms in a hotel) x (days in the month)
A
SUPPLY
19
Q
rooms sold
A
DEMAND
20
Q
number of rooms sold by a hotel
A
DEMAND
21
Q
does not include complimentary rooms
A
DEMAND
22
Q
does not include “no-shows”
A
DEMAND
23
Q
does not include complimentary rooms or “no-shows”
A
DEMAND
24
Q
reservations not cancelled but no one checked in towards them
A
NO-SHOWS
25
total room revenue generated from the sales of rooms
Revenue
26
does not include taxes
Revenue
27
total room revenue generated from sales of rooms, not including taxes
Revenue
28
Includes service charges
Revenue
29
does not include resort fees
Revenue
30
includes service charges NOT resort fees, nothing else such as F&B
Revenue
31
The Uniform System of Accounts for the Lodging Industry is...
available from the AHLA or HFTP
32
What does KPI stand for?
Key Performance Indicators
33
From these raw data values, STR calculates the _______ hotel industry Key Performance Indicators.
three
34
Occupancy (%), Average Daily rate ($), Revenue per Available Rooms ($)
Hotel Industry Key Performance Indicators
35
What does ADR stand for?
Average Daily Rate
36
What does RevPAR stand for?
Revenue per Available Room
37
Important metric that is based upon ALL rooms
Revenue per Available Room
38
combination of occupancy and Average Daily Rate
Revenue per Available Room
39
Important metric that is based upon ALL rooms, combination of occupancy and Average Daily Rate
RevPAR
40
The percentage of available rooms that were sold during a specific time period
Occupancy
41
Calculated by dividing the Demand (# of rooms sold) by the supply (# of rooms available)
Occupancy
42
((# of rooms sold) / (# of rooms available)) x 100
Occupancy
43
A percentage; Divide the SMALLER number by the large number
Occupancy
44
(Demand/Supply) x 100
Occupancy
45
A measure of the average rate paid for rooms sold during a specific time period
Average Daily Rate
46
divide the Room Revenue by the Demand (# of rooms Sold)
ADR
47
(Revenue/Demand)
ADR
48
(Revenue)/((# of Rooms Sold)
ADR
49
A dollar amount
ADR
50
A Measure of the revenue that is generated by a property in terms of each room available
Revenue per Available Room
51
Differs from Average Daily Rate because it is affected by the amount of unoccupied room while Average Daily Rate only shows the average rate of rooms actually sold
Revenue per Available Room
52
How is RevPAR different from ADR?
it is affected by the amount of unoccupied rooms
53
How is ADR different from RevPAR?
it only shows the average rate of rooms actually sold
54
Differs from Revenue per Available Rooms because it only shows the average rate of rooms actually sold while Revenue per Available Rooms is affected by the amount of unoccupied room
Average Daily Rate
55
divide the Room Revenue by the total number of Rooms available (Supply)
Revenue per Available Room
56
(Room Revenue) / (total # of Rooms Availabl)
RevPAR
57
A dollar amount
RevPAR
58
(Revenu/Supply)
RevPAR
59
Of the three Key Performance Indicators, ADR and RevPAR...
are both Dollar amounts
60
To get the ADR value...
divide Revenue by Rooms Sold (Demand)
61
To get the RevPAR value...
divide Revenue by Rooms Available (Supply)
62
What is the difference between how you find ADR and RevPAR?
To get ADR value, you divide Revenue by Rooms Sold (Demand) whereas to get the RevPAR, you divide Revenue by Rooms Available (Supply)
63
In most cases, the RevPAR amount should be _______ than the ADR amount
lower
64
the Revenue per Available Room amount should be lower than the Average Daily Rate amount
*helps to check your math*
65
The only time that Revenue per Available Room amount is not lower than the Average Daily Rate amount would be...
if the rooms sold number was GREATER than the Rooms Available.
66
When the rooms sold number is Greater than the Rooms Available occupancy...
would be greater than 100%
67
Some people calculate RevPAR by...
multiplying ADR times Occupancy
68
important metric for the Hotel Industry since it is a combination of Occupancy and ADR
RevPAR
69
A hotel could have 100% Occupancy because of a low ADR
RevPAR will reflect that
70
A hotel could have a very high ADR but only sell one Room
RevPAR would reflect that
71
Often people will talk about whether a RevPAR increase(or decrease) is attributed more to...
an increase(or decrease) in occupancy or ADR.
72
Frequently when a hotel or General Manager is evaluated or measured....
RevPAR is the metric that is being looked at.
73
The comparison of the THIS YEAR (TY) number versus the LAST YEAR (LY) number, whether a raw value or a Key Performance Indicator (KPI)
Percent Changes
74
What does TY stand for?
This Year
75
What does LY stand for?
Last Year
76
Illustrates the amount of growth (up, flat, down) from the same period last year
Percent Changes
77
The "TY" number minus the "LY number divided by the "LY" number, then times 100 since it is a percentage
Percent Changes
78
((TY-LY)/LY)*100
Percent Changes
79
Remember the parentheses for the "order of operations"
Percent Changes
80
STR typically shows Percent Changes numbers such as...
Occupancy Percent Change
81
Sometimes people talk about...
Point Change
82
IF the occupancy was 51% this year compared to 50% last year, the point change would be _____ and the percent change would be _____
1 ; 2%
83
STAR Reports always show...
Percent Change
84
shows whether the occupancy this year is greater or less rooms than the occupancy last year
Occupancy Percent Change
85
changes could be related to supply and demand changes
Occupancy Percent Change
86
shows whether the average rate this year is greater or less than the average rate last year
Average Daily Rate Percent Change
87
shows whether the RevPAR amount is greater or less than the amount last year
Revenue Per Available Room Percent Change
88
changes could be related to Occupancy and ADR differences
Revenue Per Available Room Percent Change
89
roughly the combination of Occupancy and ADR Precent Change *Great to know for checking math*
RevPAR Percent Change
90
Great to know for checking math
RevPAR Percent Change
91
If occupancy percent change is 2% and ADR Percent Change is 2% than RevPAR percent change will roughly be...
4%
92
If occupancy percent change is 2% and ADR Percent Change is -2%, than RevPAR percent change will roughly be...
0%
93
People will talk about whether a RevPAR Percent Change, whether positive or negative, is more attributed to the _______ or the _________.
Occupancy Percentage Change; ADR Percent Change
94
If the occupancy Percent Change is 4% and the ADR Percent change is 1%, than the RevPAR Percent Change will roughly be...
5%
95
more influenced by Occupancy than ADR
RevPAR Percent Change
96
RevPAR Percent Change is more influenced by __________ than _________.
Occupancy; ADR
97
If the Occupancy percent change is -4% and the ADR Percent Change is -1%, than the RevPAR Percent Change will roughly be...
- 5%
| * In this case, the negative RevPAR percent change is more a factor of occupancy than ADR
98
#1 What is the general trend over time? (Are Occupancies or ADRs going up,down,or are they constant?)
#2 Are there any special situations that have affected the percent change?
Thing/Scenarios to consider when Analyzing Percent Change Numbers
99
Thing/Scenarios to consider when Analyzing Percent Change Numbers are...
#1 What is the general trend over time? (Are Occupancies or ADRs going up,down,or are they constant?)
#2 Are there any special situations that have affected the percent change?
100
If there was a big event, during the current month this year, than...
the numbers will probably go up.
101
If there was a big even last year, than the numbers...
may go down.
102
When looking at monthly numbers, always check...
the number of weekends compared to week days.
103
In a month there cane be anywhere from ______ weekend days
8-10
104
If a hotel does better on the weekends, than...
a month with more weekend days will always look better
105
Be sure to check holiday. Some are ________ and some have ______ but vary the day of weekend while others vary _______.
consistent ; consistent dates ; substantionally
106
The __________ of holidays related to weekends can have a significant impact
juxtaposition
107
1st Friday of the month
Consistent holiday
108
Christmas
vary the day of the week but have consistent date
109
Easter
vary substantially and falls on different months
110
When checking daily data...
be sure to check special events
111
The formulas for daily Key Performance Indicators and Percent Change are....
the same as for monthly
*obviously the date filed are different*
(201007-monthly ; 20100725-daily)
112
Monthly percent change always compare...
the current month this year to the same month last year
113
MONTHLY PERCENT CHANGE: July of 2011 would be compared to...
July of 2010
114
MONTHLY PERCENT CHANGE: 201107 is compared to..
201007
115
((201107value - 201007 value)/201007 value) x 100
Example of Monthly percent change formula
116
Daily percent changes are..
not based upon exact dates
117
July 15 in 2010 is a Thursday but July 15 in 2009 is a _______.
Wednesday
118
based upon "comparable days"
Daily Percent changes
119
based upon the SAME day of week last year with the closest date
Daily Percent changes
120
DAILY PERCENT CHANGES: Thursday 20100715 is compared to...
Thu 20090716
121
DAILY PERCENT CHANGES: Saturday 20100731 is compared to...
Sat 20090801
122
The actual dates will ALWAYS be off....
by one or two days, depending upon leap year.
123
((20110714 value - 20100716 value) / 20100716 value) x 100
Example of Daily Percent change formula
124
Multiple time periods for monthly data include...
Year-to-Date, Running 12-Months, Running 3-Months
125
What does YTD stand for?
Year-to-Date
126
Year-to-Date, Running 12-Months, Running 3-Months
Multiple time periods for monthly data
127
January through the current month of the current year
Year-to-Date
128
the current month plus the prior 11 months
Running 12-months
129
Also known as 12-Month Moving Average
Running 12-months
130
the current month plus the prior two months
Running 3-months
131
Metrics for all of the time periods (Year-to-Date, Running 12-Months, Running 3-Months) are based upon...
the aggregated raw monthly data
132
to find the metrics for all the time periods (Year-to-Date, Running 12-Months, Running 3-Months), you aggregate the ______________ for all months and then apply the occupancy, ADR, and RevPAR formulas
SUPPLY,DEMAND,REVENUE
133
to find the metrics for all the time periods (Year-to-Date, Running 12-Months, Running 3-Months), you aggregate the Supply, Demand, Revenue for all months and then....
apply the occupancy, ADR, and RevPAR formulas
134
Multiple time periods for daily data include...
Current Week, Month-to-Date,Running 28-Day, Running 4-Week
135
the seven days, starting on SUNDAY and ending on Saturday
Current Week
136
What does MTD stand for?
Month-to-Date
137
The 1st of the current month through the current day of the month
Month-to-Date
138
The current day plus the prior 27 days
Running 28-Days
139
The current day plus the prior three same days of the week
Running 4-Week
140
Metrics for all of the time periods (Current Week, Month-to-Date,Running 28-Day, Running 4-Week) are...
based upon the aggregated raw daily data.
141
Same procedure as Monthly
Multiple time periods for daily data
142
to find the metrics for all the time periods (Current Week, Month-to-Date,Running 28-Day, Running 4-Week) you aggregate the Supply, Demand, Revenue for all months and then....
apply the occupancy, ADR, and RevPAR formulas
143
to find the metrics for all the time periods (Current Week, Month-to-Date,Running 28-Day, Running 4-Week) you aggregate the ______________ for all months and then apply the occupancy, ADR, and RevPAR formulas
SUPPLY,DEMAND,REVENUE
144
Numbers for multiple time periods NEVER use average of monthly or daily values
How NOT to Calculate metrics for multiple time periods
145
Do not calculate metrics for multiple time periods by
using the average of monthly or daily values
146
Some people mistakenly compute YTD occupancy by...
adding the occupancy of each month and dividing by the number of months
147
Although it gives you a number which is close to the accurate number, do not compute YTD occupancy by adding the occupancy of each month and dividing by the number of months because...
but the methodology assigns the same weight to each month, instead of weighting based upon the number of DAYS in each month
148
Derived based upon the aggregated raw data for each separate hotels that is a member of the comp set
Key Performance Indicators for the Competitive Set
149
Key Performance Indicators for the Competitive are...
Derived based upon the aggregated raw data for each separate hotels that is a member of the comp set
150
The first step when it comes to calculating Comp Set KPIs is to...
combine the supply, demand, and Revenue values for each hotel in the comp set
151
combine the supply, demand, and Revenue values for each hotel in the comp set
The first step when it comes to calculating Comp Set KPIs
152
The 2nd step when it comes to calculating Comp Set KPIs is to...
use the standard Occupancy, ADR, and RevPAR formulas. Applied each to the aggregated Supply Demand, and Revenue Numbers
153
use the standard Occupancy, ADR, and RevPAR formulas. Applied each to the aggregated Supply Demand, and Revenue Numbers
The 2nd step when it comes to calculating Comp Set KPIs
154
```
#1 combine the supply, demand, and Revenue values for each hotel in the comp set
#2 use the standard Occupancy, ADR, and RevPAR formulas. Applied each to the aggregated Supply Demand, and Revenue Numbers
```
The traditional methodology that is used to derive Key Performance Indicators for the Comp Set
155
Explain the traditional methodology that is used to derive Key Performance Indicators for the Comp Set
```
#1 combine the supply, demand, and Revenue values for each hotel in the comp set
#2 use the standard Occupancy, ADR, and RevPAR formulas. Applied each to the aggregated Supply Demand, and Revenue Numbers
```
156
The Key Performance Indicators are never based upon...
a straight average of the Occupancies or ADRs of each member of the comp set.
157
The "aggregated" methodology does place higher weigh upon...
the performance of larger hotels in the comp set.
158
In most cases, the _______ for each member of the comp set will not vary too much, since they are suppose to be similar to the subject.
number of rooms
159
STR allows companies to choose whether...
to include or exclude the data for the subject hotel in the numbers for the comp set.
160
The decision to to include or exclude the data for the subject hotel in the numbers for the comp set is made at...
the company level, NOT the hotel level.
161
All companies exclude when it comes to...
daily data.
162
Historically companies usually...
include the data for the subject hotel (market-share program) in the comp set
163
more recently companies have...
decided to exclude the subject hotel's data in the comp set, opposite to what has been done historically.
164
Some people feel that having the subject data included in the comp set numbers...
distorts or dilutes the comp set.
165
Suppose you had five hotels in your comp set and the average occupancy of the five hotels, without your hotel, calculated using the STR methodology was 70%. Your hotel had an occupancy of 80%. The comp set number with the subject hotel (your hotel) excluded would be...
70%
166
Suppose you had five hotels in your comp set and the average occupancy of the five hotels, without your hotel, calculated using the STR methodology was 70%. Your hotel had an occupancy of 80%. The comp set number with the subject hotel (your hotel) excluded would be 70%
If the comp set number INCLUDED the subject hotel then the comp set average would...
increase slightly (ex: 72 or 73)
167
Numbers show increases/decreases in the performance of the comp set this year vs. last year
Percent Change Numbers for the Competitive Set
168
calculated similarly to the ones for the subject property
Percent Change Numbers for the Competitive Set
169
((TY-LY)/LY) x 100
Percent Change Numbers for the Competitive Set
170
Calculate TY & LY KPIs, then apply percent change formulas
Percent Change Numbers for the Competitive Set
171
Typically people will compare the actual values for the _________ of the subject hotel to the Comp Set
Occupancy, ADR, and RevPAR
172
When comparing data for the subject hotel versus the comp set, people will be able to determine if the subject hotel has a higher or lower value for each KPI compared...
to the average of all the members of the Comp Set
173
When comparing data for the subject hotel versus the comp set, people can also compare the percent change of the subject hotel to the ______________ to see if their hotel is __________.
percent changes of the comp set ; improving more or less than the comp set.
174
When comparing the Percent Changes of the subject hotel to the comp set, there are...
instances where BOTH numbers could be negative, especially in the case of an economic downturn.
175
The subject hotel and the comp set are both doing worse than last year. The lower negative numbers actually has the best percent change. Even though they are doing worse than last year....
you are still doing better than the comp set.
176
compare the performance of the subject property to the comp set
Index Numbers
177
(Subject Value/Comp Set Value) x 100
Index Numbers
178
Index Numbers:
| A number greater than 100 means...
the subject property out performed the comp set
179
Index Numbers: the subject property out performed the comp set
A number greater than 100
180
Index Numbers:
| A number below 100 means...
the comp set out performed the subject property
181
Index Numbers: the the comp set out performed the subject property
A number below 100
182
Index numbers are available for...
Occupancy, ADR, and RevPAR
183
Calculate KPIs for Subject and Comp Set, then apply Index Formulas; percentages
Index Numbers
184
Occupancy, ADR, and RevPAR Index numbers tend to be...
relied upon heavily by the industry to evaluate the performance of hotels
185
generated for multiple time periods, both month (YTD, RUNNING 12) and daily (MTD,RUNNING 28) to analyze performance for a subject hotel over various periods of time
Importance of Index Numbers
186
Some companies relate manager's bonuses to...
index numbers
187
The headquarters of many hotel companies receive corporate or regional ______ listing each of their hotels with the various index numbers
index report
188
Since RevPAR is a combination of Occupancy and ADR, there are....
similar mathematical hints when it comes to RevPAR Index numbers
189
The RevPAR Index number less than 100 will be...
the approximate sum of the occupancy index number less 100 and the ADR Index number less 100
190
the approximate sum of the occupancy index number less 100 and the ADR Index number less 100
RevPAR Index number less than 100
191
If your hotel had an occupancy index of 110 and ADR Index of 95, your RevPAR index would be around...
105
192
When deriving Index Percent Change numbers
```
#1 Calculate the Index number THIS YEAR for Occupancy, ADR, and RevPAR
#2 Calculate the Index number for LAST YEAR using the same formulas
#3 Calculate the percent change for the index numbers using the standard percent change formula
```
193
Calculate the Index number THIS YEAR for Occupancy, ADR, and RevPAR
the first step for deriving Index Percent Change numbers
194
Calculate the Index number for LAST YEAR using the same formulas
the second step for deriving Index Percent Change numbers
195
Calculate the percent change for the index numbers using the standard percent change formula
the third step for deriving Index Percent Change numbers
196
the first step for deriving Index Percent Change numbers is to...
Calculate the Index number THIS YEAR for Occupancy, ADR, and RevPAR
197
the second step for deriving Index Percent Change numbers is to...
Calculate the Index number for LAST YEAR using the same formulas
198
the third step for deriving Index Percent Change numbers is to...
Calculate the percent change for the index numbers using the standard percent change formula
199
shows whether the relative performance of the subject hotel compared to the comp set is better this year compared to last year
Index Percent Change numbers
200
Positive numbers are good ; Negative numbers are not
Index Percent Change numbers
201
If your occupancy index was 115 this year and 110 last year, you would...
have a positive occupancy index percent change
202
If your occupancy index was 105 this year and 96 last year, you would...
have a positive occupancy index percent change
203
If your occupancy index was 90 this year and 80 last year, you would...
have a positive occupancy index percent change
204
Index of 90 TY and 80 LY yields an Index Percent Change of...
12.5%
205
Calculate indexes TY & LY, then apply precent change formulas
Index Percent Change
206
important because they show year-over-year "improvements"
Index Percent Change
207
GM of hotel has occupancy, ADR, and RevPAR indexes that are all below 100 but Regional Manager is please because....
they may be looking at index percent change numbers that are ALL strongly positive. The hotel is underperforming the comp set but is catching up (improving more than the comp set average)
208
Hotels could have indexes all above 100 but Regional Manger may be concerned because if the index percent change numbers are all negative...
it means that the comp set members on average are improving more than your hotel and could catch up.
209
a very popular number and is often looked at when it comes to things like bonuses
RevPAR
210
a valuable performance metric
Ranking Data
211
RANKING DATA: the occupancy for the hotel is 80% and 70% for comp set occupancy
the 70% represents the average of all of teh hotel in the comp set
212
Properties could have a __________ range of different occupancy value
wide or narrow
213
shows the position of the hotel in the range of values for the comp set and goes beyond the KPIs and Index
The Ranking Information
214
diplayed in the format: "X of Y"
Ranking Data
215
What does the X in "X of Y" Ranking data format represent?
the subject hotel's position
216
What does the Y in "X of Y" Ranking data format represent?
the number of participating properties in the comp set
217
the Y in "X of Y" includes...
the subject hotel
218
Ranking data: "2 of 6"
the subject hotel had 2nd best value in the comp set of 6 members
219
Ranking data: "1 of 6"
indicates a narrow range of values
220
Ranking data: "3 of 6"
includes a broad range
221
STAR Property reports include Ranking information for...
occupancy, ADR, RevPAR and each Percent Change
222
How is occupancy ranking data determined?
the values for each hotel in the comp set including the subject hotel are sorted. then the position of the subject hotel is determined within the group
223
```
#1the values for each hotel in the comp set including the subject hotel are sorted.
#2the position of the subject hotel is determined within the group
```
determining occupancy ranking data
224
percent change ranking data is...
also very valuable
225
suppose your hotel had an opportunity percent change of 10% and your comp set had an occupancy percent change of 5%. the 5% represents....
the average of all of the percent changes of the hotels in your comp set
226
The format for percent change ranking is...
the same as ranking for the KPIs.
227
"2 of 6" would mean the subject hotel had...
the 2nd best percent change in the comp set of 6
228
the subject hotel had the 2nd best percent change in the comp set of 6
2 of 6
229
Provides additional information regarding relative year-to-year improvement of the hotels in your comp set
Percent Change Ranking Data
230
could all be negatives as well
Percent change
231
"1 of 6" ranking number would indicate that...
the subject hotel had the best percent change.
232
Even though all the percent change numbers were negatives, your hotel could still...
have the "best" (closest to positive or lowest) negative number
233
Provides more information than ranking data.
Bandwidth Data
234
show the daily occupancy, ADR, and RevPAR of the subject hotel compared to the range of values for the comp set hotels.
Bandwidth reports
235
If the ADR "band" is broad, there is...
a wide range of values among the comp set.
236
If the "band" is small...
the range is narrow
237
will provide an approximation of the high and low values of each metric on a daily basis
Bandwidth information
238
whether or nor enough of the hotels in the competitive set have participated (submitted data) for a single time period
Sufficiency of Comp Set Data
239
When it comes to comp set data for a single month or day...
there must be AT LEAST 3 or more hotels in the comp set that submit data for that specific month or day in order for that comp set data to be "sufficient."
240
does not take into consideration the number of hotels that are actually in the comp set
Sufficiency
241
You could have 10 hotels in the comp set but if only 3 submit data for a month...
the data for that month would be "sufficient"
242
If data for a single month or day is "sufficient," then...
the related KPIs for the month or day (occupancy, ADR,RevPAR) can then appear on the STAR report.
243
Percent change numbers for a single time period (month) will appear if...
both months are sufficient this year and last year.
244
considered to be sufficient if greater than 50% of the months included in the multi-month period are sufficient
Multi-month numbers (YTD)
245
An April YTD number would be sufficient if...
three of the four months are sufficient.
246
Frequently hotel staff receive their STAR report and notice that...
comp set data is missing
247
The ________ in the STAR report will help you determine the reason for the missing data.
Response Page
248
If a monthly number is missing, check the...
number of hotels that reported for that specific month to see if there were more than three.
249
If a percent change number is missing, check the...
related months this year and last year.
250
If a multi-moth (YTD) number is missing, check...
all the months included
251
Sometimes a hotel or company will...
report adjusted numbers (month or daily) after submitting the original data
252
Any data changes are..
carefully checked and verified by STR
253
A hotel may receive a STAR report this month with a...
different comp set number (for last month) than the STAR report they received during the prior month
254
The reason for the change to the prior number in the STAR report is...
the adjusted data for one or more of the hotels in their comp set.
255
occasionally a hotel in the comp set may...
report a supply number that is different than the number of rooms in the property times the days in the period
*there is a very small range of acceptabilities
256
When the supply number is different than the number of rooms in the property times the days in the period, STR uses...
the Supply number based upon full availability, not the number that the hotel reports.
*this eliminates the concern that a subject hotel may have that a property in their comp set is providing inaccurate supply numbers
257
There may be situations where one or more hotels in a comp set does not...
report data for a month or more. This assumes that the comp set is still sufficient, so there are still three or more hotels reporting.
258
the supply, demand, and revenue for the participating properties is aggregated. *the "Sample" supply, demand, and revenue; the data of the participating hotels.
First step in methodology in the case of a non-reporting hotel
259
First step in methodology in the case of a non-reporting hotel is..
the supply, demand, and revenue for the participating properties is aggregated. *the "Sample" supply, demand, and revenue; the data of the participating hotels.
260
An occupancy and ADR is calculated based on the Sample Data; the "Sample" occupancy and data
Second step in methodology in the case of a non-reporting hotel
261
Second step in methodology in the case of a non-reporting hotel is...
An occupancy and ADR is calculated based on the Sample Data; the "Sample" occupancy and data
262
the supply is determined for all the hotels in the comp set, simply the total number of rooms times the days in the month
Third step in methodology in the case of a non-reporting hotel
263
Third step in methodology in the case of a non-reporting hotel is...
the supply is determined for all the hotels in the comp set, simply the total number of rooms times the days in the month
264
(total # of rooms in comp set) x (days in the month)
Supply for all the hotels in methodology in the case of a non-reporting hotel
265
the "census" supply is...
the rooms available for all hotels, not just the participants
266
the rooms available for all hotels, not just the participants
the "census" supply (methodology in the case of a non-reporting hotel)
267
multiplied times the sample occupancy to derive the census demand
the "census" supply (methodology in the case of a non-reporting hotel)
268
(census supply) x (sample occupancy)
Census Demand (methodology in the case of a non-reporting hotel)
269
census demand is multiplied times the same ADR
census Revenue (methodology in the case of a non-reporting hotel)
270
(census demand) x (sample ADR)
Census Revenue (methodology in the case of a non-reporting hotel)
271
If you calculated the Census occupancy, ADR, and RevPAR it would be...
the same as the Sample Values (methodology in the case of a non-reporting hotel)
272
related to comp set data
"consistent sample" "Same Store"
273
If a subject hotel has a non-reporting property (or a property that reports intermittently) in its comp set...
that can possibly distort the comp set numbers
274
You never know if a change in performance is...
related to what is actually happening with the comp set hotels or the fact that a single hotel data is missing.
275
There are ways for a subject hotel to...
remove a non-reporting property from its comp set.
276
Participation information for the comp set is displayed on...
the Response page of the STAR report.
