The UK Short Term Accommodation Association (STAA) has announced a partnership with STR, a provider of data analytics in the hospitality industry, to launch a study that will track the performance of different forms of accommodations.
The research will cover serviced apartments, short-term rentals, and hotels, with a pilot commencing in London this month.
A number of different measurements will be recorded to allow industry commentators and members to gain “a measurable and credible picture” on how the “sector is growing”.
Insights such as occupancy, average daily rates, revenue per available room (RevPAR), average lengths of stays, and cleaning fees will be provided to those signed up to the programme.
Merliee Karr, chair of the STAA, said: “Our partnership with STR is a great example of how we are developing solutions for better data on our sector.
“The data that STR will share with us will give a cross-industry insight that has never been seen before. We will be able to use this evidence in conversations we have with Government and local authorities to help with evidenced based discussions on the sector.”
The pilot study has so far recruited rental operators such as Guest Ready, Seven, Urban Stay, and UnderTheDoormat, and will publish its first set of results at the end of October.
Patrick Mayock, vice president of research and development at STR, said: “We are excited to partner with the STAA to further expand these capabilities across additional accommodations types.
“By capturing data directly from the source, we will provide an unparalleled view of market dynamics and trends at a time when the need is greatest for travel industry stakeholders.”