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Hotel Data Giant STR Acquired for $450 Million

Hotel Data Giant STR Acquired for $450 Million
STR Acquired

Post Date: 02 Oct 2019 ||  Key Takeaways :

STR is the premier global provider of data on hotel performance and market dynamics

Commercial real estate information provider CoStar Group will acquire STR for $450 million in an all-cash deal.

STR expects to post strong revenue of $64 million in 2019, with about $16 million in profit, according to a press release announcing the deal.

The company’s STAR report subscription product represents about half of STR’s revenue with the rest coming from trend reports and other areas.

Andrew C. Florance, founder and CEO of CoStar Group, said so in a release: “STR brings an unrivaled reputation within the global hospitality industry for their data integrity, reliability, and strict confidentiality, and we look forward to continuing to build on these core values in the next chapter of STR’s growth.” Read On : http://bit.ly/STR-Acquisition

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