Thanks so much for this video!! My teacher threw an STAR report at us for a homework and I could barely understand what the index were from the book. Now all the numbers make more sense and I know what I shlookibe looking for!
Hi, the competitor data is an average of all the competitors together as that is how STR reports the data. It is impossible to get the data of only one competitor. I do not have a breakfast cost control sheet.
I can tell you from experience for a full breakfast including hot foods on a buffet the cost of food and supplies the raw cost is around $5 to $6 per breakfast. If it is a continental breakfast the raw cost is around $2 to $3 depending on the extent of the offerings.
thank you for this very enlightening video! I have a small question concerning the hotel's choice to include or exclude itself from the competitors: why would a hotel choose to include itself in the competitors? Doesn't this "distort" the data on the competition and prevent comparison? Thank you for the precious help
Hello, hotels are not included in the data on the STR Report. You will see wording on the STR that says "Hotel Data Excludes Subject Property" which simply means the property's numbers are not included
Hello glad you found the video helpful. Year to date (YTD) means Jan 1 to the current date of the report. Running 12 Months means the previous 12 months. So for example for a report produced for month end February 2024 YTD numbers would be for Jan 1, 2024 through Feb 29, 2024 and Running 12 numbers would be for March 1, 2023 through Feb 29, 2024.
Hello Robert, thanks for the awesome video! I really loved the Star Report you mentioned. It would be super helpful for a project I’m working on for my university applied project. Is there any chance you could share the template? I’d really appreciate it! 🙌 Thanks again for all the great content!
Thanks, for the video just wanna clarify one thing, if last year(2021) OCC 72% as mentioned and current year (2022) OCC 64.1% how we get the difference to be 11.6%
Because it is an 11.6% difference in volume. Those columns are all percentage based columns that track differences in percent increases and decreases. They don't figure those by subtracting one another, they figure them on a percentage basis by dividing to get the percentage growth or decline.
Is there a way to see one of the comp hotels actual performance numbers or just it group the data? Want to compare just 1 of the comp hotels vs. Hope that makes sense.
Hello, yes your question makes sense and the answer is no there is not. For privacy concerns they will never allow a comparison for only 1 property. Also STR is actually strict on how comp sets are chosen as they have to follow certain criteria such as all hotels in the competitive set (response tab) must be an evenly distriubuted mix of various brands.
Thanks so much for this video!! My teacher threw an STAR report at us for a homework and I could barely understand what the index were from the book. Now all the numbers make more sense and I know what I shlookibe looking for!
You are so welcome!
Thank you, your video is very helpful！
Glad to hear that! Thank you for watching. I have another video coming out soon regarding the year end STR Report, stay tuned :-)
Thank you for posting this video. This was very educational, straight forward and easy to understand. Best regards.
Thank you! Glad you found it helpful.
Extremely helpful. Thanks for posting this.
You're welcome! Thank you
Hi. I got 2 questions:
- Where do you get the data of your competitors?
- Do you have a BREAKFAST cost control spreadsheet?
Hi, the competitor data is an average of all the competitors together as that is how STR reports the data. It is impossible to get the data of only one competitor. I do not have a breakfast cost control sheet.
I can tell you from experience for a full breakfast including hot foods on a buffet the cost of food and supplies the raw cost is around $5 to $6 per breakfast. If it is a continental breakfast the raw cost is around $2 to $3 depending on the extent of the offerings.
@@occupancyboost ...I live in Italy :) Thanks a lot though.
thank you for this very enlightening video! I have a small question concerning the hotel's choice to include or exclude itself from the competitors: why would a hotel choose to include itself in the competitors? Doesn't this "distort" the data on the competition and prevent comparison? Thank you for the precious help
Hello, hotels are not included in the data on the STR Report. You will see wording on the STR that says "Hotel Data Excludes Subject Property" which simply means the property's numbers are not included
Hello, appreciated your video, very helpful. Yet, i have questions about whats the difference between YTD row and Running 12 month? Thank you
Hello glad you found the video helpful. Year to date (YTD) means Jan 1 to the current date of the report. Running 12 Months means the previous 12 months. So for example for a report produced for month end February 2024 YTD numbers would be for Jan 1, 2024 through Feb 29, 2024 and Running 12 numbers would be for March 1, 2023 through Feb 29, 2024.
Hello Robert, thanks for the awesome video! I really loved the Star Report you mentioned. It would be super helpful for a project I’m working on for my university applied project. Is there any chance you could share the template? I’d really appreciate it! 🙌 Thanks again for all the great content!
Happy to send to you. Where shall I send it?
Thank you so much!!!
You're welcome!
Thanks, for the video just wanna clarify one thing, if last year(2021) OCC 72% as mentioned and current year (2022) OCC 64.1% how we get the difference to be 11.6%
Because it is an 11.6% difference in volume. Those columns are all percentage based columns that track differences in percent increases and decreases. They don't figure those by subtracting one another, they figure them on a percentage basis by dividing to get the percentage growth or decline.
Is there a way to see one of the comp hotels actual performance numbers or just it group the data? Want to compare just 1 of the comp hotels vs. Hope that makes sense.
Hello, yes your question makes sense and the answer is no there is not. For privacy concerns they will never allow a comparison for only 1 property. Also STR is actually strict on how comp sets are chosen as they have to follow certain criteria such as all hotels in the competitive set (response tab) must be an evenly distriubuted mix of various brands.
@@occupancyboost Thank you so much for the response!
where do you typically get STR report from?
Hello, if the property reports to STR the owner can access it. The owner also may give access to the GM.
Are you available for consulting purposes....if so let me know
hello yes.