STR celebrates 30 years as leader in hotel benchmarking
STR, Inc., the leading global provider of competitive benchmarking, information services and research to the hotel industry, is celebrating its 30th anniversary.
Founded as Smith Travel Research in June 1985 by Randy and Carolyn Smith, STR is a privately-held family business headquartered in suburban Nashville, Tennessee.
The company celebrated the milestone with a reception at The Knickerbocker Hotel during the recent New York University International Hospitality Industry Investment Conference.
“We’re fortunate and grateful that what started as a vehicle to build a census database of hotel properties in the United States has evolved into a global enterprise,” said Randy Smith, STR’s chairman and co-founder. “We’ve had many hard-working employees that have helped us carve our niche, and our clients have always been open and direct in helping us shape the data and products that we now offer. That combination has been the most fascinating aspect of watching the company grow.”
In March of 2008, STR formally expanded its hospitality benchmarking platform beyond North America through the creation of STR Global Limited. STR now gathers performance data from more than 51,000 hotels comprising more than 6.9 million rooms located in more than 160 countries.
“Our mantra is to build on the success we’ve experienced during our first 30 years,” said Amanda Hite, STR’s president and COO since January 2011. “We are appreciative of the commitment shown by our clients and employees to continue to push the envelope in data benchmarking for the hotel industry. We will continue to provide the same excellent service while adding more tools to help hoteliers develop successful, profitable businesses. We are looking forward to using our experience in benchmarking to expand our services in other industries.”
Along with STR Global Limited, based in London, STR’s enterprise includes STR Analytics, based in Broomfield, Colorado, and Hotel News Now, based in Rocky River, Ohio. The overall enterprise employs more than 200 people.