Contact: Bethany Lucas
Deloitte
+44 (20) 7007 0981
Contact: Duane Vincent
Smith Travel Research
+1 (615) 824 8664 Ext. 329
Hendersonville, Tennessee and London, October 29, 2003 — Smith Travel Research (STR), the 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 U.S. 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.
About the HotelBenchmark Survey by Deloitte
The HotelBenchmark Survey by Deloitte contains the largest independent source of hotel performance data outside of North America and tracks the performance of over 6,000 hotels and 1.1 million rooms every month. Four regional monthly rate and occupancy reports are produced covering Asia Pacific, Caribbean and Latin America, Europe and the Middle East & Africa.
These are supplemented by country reports for Australia, Belgium & The Netherlands, Germany, Italy, New Zealand, South Africa, the UK and a city survey for London. Annual profitability surveys are run across all regions of the world, whilst in Germany and London monthly profitability surveys are conducted. For further information or details on how to join the survey please visit: www.HotelBenchmark.com.
About Smith Travel Research
Based in Henderson, Tennessee, Smith Travel Research (STR) is the recognized leader for U.S. Lodging Industry benchmarking. For more than 18 years, STR has collected monthly and daily operating data and reported on the state of the U.S. lodging industry, maintaining one of the world’s largest lodging industry databases and publishing an array of valued industry research. For more about STR and its services, visit www.smithtravelresearch.com.
About Deloitte
All references to Deloitte in this press release are to Deloitte & Touche LLP in the UK. Deloitte & Touche LLP is one of the fastest growing major professional services firm in the UK, with offices in 21 locations, more than 10,000 staff nationwide and fee income of £1,228 million in the fiscal year ended May 31, 2003. It is a member firm of Deloitte Touche Tohmatsu, a leading professional services organisation, delivering world class audit, tax, consulting and corporate finance services, with around 120,000 people in over 140 countries. Deloitte Touche Tohmatsu is a Swiss Verein, and each of its national practices is a separate and independent legal entity.
Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority. The information contained in this press release is correct at the time of going to press. For further information about Deloitte in the UK, visit www.deloitte.co.uk. Or visit our global Web site at www.deloitte.com.
