• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

CoStar pushes into hotel space with $450M acquisition of STR

CoStar CEO Andrew Florance and STR president and CEO Amanda Hite (Credit: Getty Images, STR, and iStock)
CoStar CEO Andrew Florance and STR president and CEO Amanda Hite (Credit: Getty Images, STR, and iStock)

CoStar Group, the $22 billion giant most known for its data on office and retail properties, is making a big push into the hotel industry by acquiring one that industry’s largest research and analytics firms.

CoStar has agreed to acquire Tennessee-based STR in a $450 million all-cash deal that is expected to close in the fourth quarter, the companies announced Tuesday. The Wall Street Journal first reported the news.

“We’re trying to get really high-quality data for a $3 trillion asset class,” CoStar CEO Andrew Florance told the Journal, referring to the company’s estimate of the total value of the world’s hotels.

Confidential STR data on metrics such as room revenue and occupancy are used by hotel owners on a daily basis to compare their performance with competitors, as well as by investors to inform business decisions. The data currently covers more than 65,000 hotels in more than 180 countries.

The headquarters of STR, founded as Smith Travel Research in 1985, will remain in the Nashville suburb of Hendersonville, and STR president Amanda Hite will stay on in that role. The company began marketing itself for sale in August “to obtain capital for expansion and other purposes,” according to company executives.

CoStar’s sales force will be able to help STR expand its geographical reach, while STR’s expertise in providing benchmarking data may allow CoStar to offer similar tools for other commercial property types.

“There are 350,000 hotels outside of the U.S. that are targets that we could be going after,” STR’s Hite said.

In September 2018, The Real Deal published a deep dive on CoStar’s approach to competition, revealing how it has used extensive litigation and aggressive public relations strategies to maintain its place as the top commercial real estate data firm.

Last year, CoStar began a major push into the European market with the acquisition of startup Realla.co, the largest online CRE marketplace in the continent, for an undisclosed sum.  [WSJ] — Kevin Sun

Powered by WPeMatico

  • 01 October 2019
  • The Real Deal
  • Uncategorized
  •  Like
Chicago’s biggest real estate corruption scandals over the last decade →← Amid stalling luxury market, Beverly Hills spec home trades for $43M
  • Recent Posts

    • Post-wildfires, shipping containers, 3D-printed homes provide temporary shelter May 9, 2025
    • Archer snack company leases 351K sf Dodger dog factory in Vernon May 9, 2025
    • One in three distressed borrowers handing back buildings, experts say May 9, 2025
    • LA County greenlights self-certification for Altadena rebuilding May 8, 2025
    • Irvine Company aims to transform golf course into village of 3K homes May 8, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM