October 2, 2019
Washington, D.C.-based CoStar Group, Inc. plans to acquire STR for $450 million in cash, subject to adjustments in the definitive agreements. The transaction is expected to close in Q4 2019.
CoStar Group’s Andrew C. Florance says, “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.”
STR was founded in 1985 as Smith Travel Research, to provide performance benchmarking and comparative analytics to hotels. Over the past 34 years, STR has grown to become the gold standard in the global hospitality industry for premium data analytics, performance benchmarking and market insights.
Today, STR aggregates data from more than 65,000 hotels worldwide, representing nearly nine million guest rooms spanning 180 countries. STR is headquartered in Hendersonville, TN and has 370 employees in 15 countries.
*Pictured The Westin Maui Resort & Spa Hawaii
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