|COLUMBUS, OH (June 13, 2005) — Signature
Worldwide and Smith Travel Research announced today an alliance that will
provide more in-depth training to hotels looking to better utilize the
information found in the Smith Travel Research STAR Report. Signature,
a global leader in business and training solutions in the hospitality industry,
and Smith Travel Research, the authority on the industry’s overall performance
trends, formed the alliance after recognizing an opportunity to better
serve Smith Travel Research clients.
Smith Travel Research publishes the monthly Smith Travel Accommodations Report (STAR), which is recognized as the U.S. lodging industry standard for hotel performance benchmarking. The Report provides occupancy, room rate, revenue per available room, and market share measurements for an individual participating hotel along with comparative aggregate averages for the market area and selected competitive groups. Owners, general managers and others involved in key decision making rely on the STAR Report to keep abreast of their comparative performance. Signature and Smith Travel Research found many of their respective clients desired a more in-depth understanding of how to read and interpret the data to aid in pricing and positioning decisions.
“Our clients frequently ask us how to read, interpret and react to the STAR Report data,” said Mark Lomanno, president, Smith Travel Research. “While we readily help our clients understand how to read the reports, our need to remain an independent third party precludes us from recommending a course of action based on the data.”
Lomanno continued, “Signature’s expertise in both training and performance strategies make them the perfect partner to assist our clients in utilizing the Report’s data. This allows us to maintain our objectivity but also provide our clients with the more strategic feedback they want. It’s a win for everyone.”
While Smith Travel Research offers a help desk and a tutorial on how to read the Report, the Signature programs will provide more in-depth training utilizing the participating hotel’s specific data. Hotels will benefit from basic training sessions about how to read the Report to more advanced programs that determine how the numbers affect that particular hotel’s fair share of the market as well as key indicators of a need for pricing or strategy adjustments.
“While many in the industry have a basic knowledge of what the Report numbers mean, there are a lot of ways to look at the data and find competitive advantages that aren’t as obvious,” said Don Farrell, founder and chairman, Signature Worldwide. “We’re in the business of helping our clients increase their bottom line through strategy development and training programs that support a hotel’s financial objectives. Providing the STAR Report training and consulting will help our clients’ incorporate their industry performance data into their ongoing strategy, giving them a true competitive edge.”
The Signature STAR Report training programs are available now. To find out how your key managers can learn to use the STAR Report to optimize hotel performance, contact Holly Zoba at (800) 398-0518.
About Signature™ Worldwide
Signature Worldwide is the leading provider of training solutions to the hospitality industry, creating tailored training programs and business solutions that directly impact financial performance. Established in 1986 and headquartered in Columbus, Ohio, Signature operates throughout North America and has licensees in South America, Europe and the Far East. Signature is a private company, with revenues of $12 million in 2004. For more information, go to www.SignatureWorldwide.com.
About Smith Travel Research
Smith Travel Research (STR) is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. Since 1985, the company has served the industry operating on the key principals of integrity, confidentiality and customer service. Each month, STR collects performance data from over 21,000 hotels representing more than 2.7 million rooms in the United States and has the largest ongoing surveys in Canada, Mexico and the Caribbean. For more information, please visit www.smithtravelresearch.com.
Signature Worldwide Business