Smith Travel Research and Deloitte form Alliance

Smith Travel Research (STR) a recognized leader in North American lodging industry performance benchmarking and Deloitte, the market leader in hotel performance metrics outside North America, announced that they have formed an alliance to jointly develop new benchmarking analysis for the industry.

Initially, STR and Deloitte will work together to provide the global hotel industry with ad-hoc international HotelBenchmark performance reports. These reports will be developed along the lines of the well known, current TREND report format that STR offer predominately to the US market, and will incorporate occupancy and average room rate data. In addition, STR and Deloitte will work together to develop a global census database for the industry to provide further insight on the size and shape of the market. Both companies will work together to market and promote these new reports within their respective regions. It is envisaged that the first reports will be available during the first quarter of 2004. The current benchmarking solutions offered by both parties remain proprietary and are excluded from this agreement.

Commenting on the alliance Marvin Rust, UK Managing Partner, Hotels and Resorts at Deloitte said, "We are delighted to announce this alliance with STR, which will help provide the global lodging industry and its observers with a one-stop shop for ad-hoc performance reports. Deloitte has always been at the forefront of providing innovative and unique benchmarking solutions to the industry and we are excited about partnering with Smith Travel Research, the market leader in North America."

"As the founders of benchmarking for the US lodging industry we are pleased about working with Deloitte to offer our clients new and innovative products that will permit unprecedented access to global hotel performance trends" added Mark Lomanno, President of Smith Travel Research.