STR – part of CoStar Group, incites enthusiasm among hoteliers in Plovdiv with an innovative initiative on the domestic market
Huge thanks to STR – part of CoStar CRE and Mr. Tangi Chow for the unique opportunity for all hotels in the city of Plovdiv, Bulgaria to use the full range of opportunities that the company offers for market analysis and forecasting. We believe that this is the right path for accelerated development and improvement of every single part of the positioning of Plovdiv hotels both nationally and globally.
Plovdiv hotels union
With the in-depth aim of transforming the hospitality sector of Plovdiv, the Plovdiv hotels union and STR (Smith Travel Research) – part of the CoStar Group, reveal plans to introduce specialized sub-market analysis for the city. The goal is to provide targeted insights and opportunities for its hoteliers. After an exciting presentation organized by the union in the city of Plovdiv, the initiative of STR – part of the CoStar Group – generated considerable interest among the local hotel community.
STR is a company specialized in hospitality and tourism data analysis. They collect and process information about the hotel sector worldwide, including occupancy data, rates and other indicators, which provide valuable insights and analysis for hotels, investors and other stakeholders in the hotel industry.
STR is a world leader in this segment, and the statistical data it provides to users is of key importance for determining the price and marketing policies of the hotel. The presentation became a catalyst for excitement and expectations among hoteliers in Plovdiv. Demonstrating the potential of their submarket analysis tool, STR demonstrated its ability to offer real-time data and strategic guidance that empowers hoteliers to make informed decisions and optimize their performance in a rapidly changing market.
“We are excited by the enthusiasm shown by the Plovdiv hotels union and we want to state that thanks to them we are ready to open Plovdiv as a market and STR to be available for absolutely all accommodation in the city,” said a representative of STR – part by CoStar Group.
“Our market analytics initiative is designed to equip local hoteliers with the insights they need to stay ahead of the curve and capitalize on emerging opportunities,” said Tangi Chow.
The submarket analysis initiative promises to provide hoteliers in Plovdiv with a comprehensive understanding of the city’s hospitality landscape, including demand trends, competitor dynamics and pricing strategies. By using this information, hoteliers can adapt their offerings to better meet the needs of tourists, thereby improving and promoting revenue growth. Apart from Plovdiv, the world map will be open and accessible for the same type of analysis for all hotels, so each accommodation will be able to compare its indicators with similar places in different parts of the world, as well as with the world leaders in the segment.
For hotels looking forward to the opportunities offered by STR’s submarket analysis, STR representative Tangi Chow is available for further details and assistance. Interested parties are invited to contact Tangi Chow at tchow@str.com to learn more about their involvement in this innovative initiative, which is scheduled to launch from May 1, 2024. As Plovdiv continues to establish itself as a preferred destination for travelers, the introduction of STR represents a significant opportunity for its hospitality industry. By equipping hoteliers with informed insights and strategic support, STR aims to foster sustainable growth and success in the tourism sector in Plovdiv, laying the foundations for a prosperous future.