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STR and STR Global have formed a partnership with Tourism Economics, an Oxford Economics’ company dedicated to quantitative analysis of the travel industry.
The partnership will allow STR and STR Global to combine historical data with Tourism Economics’ rigorous modeling with industry knowledge to produce the ultimate resource for market forecasting. The market forecasts will include future-looking data for supply, demand, revenue, occupancy, average daily rate and revenue per available room, as well as valuable economic analysis and market commentary. The market forecasts will include 12 months of historical data and five years of forward-looking data.
"We are extremely excited about our partnership with Tourism Economics", said Amanda Hite, president of STR. "Our combined resources and experience with data processing and analysis allows us to further enhance and expand our forecasting capabilities as required by our clients, customers, and industry".
"With our global reach and rapidly increasing international sample, our partnership with Tourism Economics will enable us to meet client requests for forecast reports outside of Europe and North America," said Elizabeth Randall, managing director of STR Global. "I am thrilled to announce that in our initial launch we will introduce new forecast reports for Beijing, Hong Kong, Singapore and Sydney."
"This is just a great fit," said Adam Sacks, managing director of Tourism Economics. "STR and STR Global’s coverage of global lodging performance matches our forecast coverage of the global economy and travel patterns. We look forward to providing the industry credible forecasts, based on economic fundamentals, which are developed within a consistent modeling framework.
"This approach will provide clients with not only detailed market forecasts, but insights into why one market may be projected to perform better than another", Sacks added.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
