STR Projection Tool Enhancements by Newport Hospitality Enable Accurate Forecasting and Budgeting for Hotel Property Leaders
📈 Ownership groups and asset managers demand accurate hotel forecasting due to rising costs. The STR Projection Tool by Newport Hospitality Group aids in planning the fiscal year, using data from CoStar and STR. It offers comparisons with previous years, improving decision-making and revenue strategy for properties. Enhanced sections provide year-over-year comparisons, aiding stakeholders. Newport Hospitality Group, based in Williamsburg, VA, manages hotels of various brands across the U.S., with Tim Hayes leading financial analysis.
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