STR to Provide Lodging Data Benchmarks
OCTOBER 2, 2007. Smith Travel Research (STR), and Deloitte, have signed a letter of intent to combine their Non-North American hotel benchmarking businesses. The new entity will be known as STR Global (STRG) and, under the terms of the letter of intent, it will unite STR's operations with Deloitte's HotelBenchmark business to provide unprecedented and enhanced coverage of global lodging markets.
Randy Smith, owner and founder of STR, and Alex Kyriakidis, Deloitte's managing partner for real estate hospitality and leisure, announced their intentions to their global customer and client base. 'As our customers look globally for new opportunities, STRG is the platform to provide local and regional insights into hotel markets worldwide,' commented Randy Smith. Alex Kyriakidis added: 'Our combined capabilities provide unprecedented benefits to our customers as a result of enhanced access to data. Operators, owners, banks and consultants will now have more extensive hotel data at their fingertips through STRG.'
Deloitte's HotelBenchmark practice will remain in London and provide the backbone of the client services operations across Europe, Middle East and Asia. All data collection and processing will continue to take place through the existing channels in Hendersonville, TN and London, UK. The websites for HotelBenchmark.com and smithtravelresearch.com will operate in tandem for the near future to ensure full data accessibility and client reporting.
Lorna Clarke, director of HotelBenchmark, commented: 'In the short-term, we will provide our current clients regular up-to-date emailed reports to supplement the data they can download from our site. Further product enhancements, in terms of more detailed reports and enhanced coverage, will follow in due course. We look forward to servicing the needs of the global hotel community.'
The transaction is subject to contract and final regulatory approval. There is no assurance that the transaction will be implemented.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
