Which two foundations did STR begin providing benchmarking information with in the 1980s?

STR, or Smith Travel Research, initiated the provision of benchmarking information in the 1980s focused on the concepts of confidentiality and aggregation of data. This combination was critical to the hotel industry's understanding of performance metrics. Confidentiality allowed participating hotels to share their data without fear of exposure, encouraging more establishments to contribute to the benchmarking process. By ensuring that individual hotel data remained confidential, STR fostered a cooperative environment where hotels felt secure in providing information.

Aggregation of data refers to the practice of compiling data from multiple sources to create a broader and more accurate picture of the market. This aggregated data is invaluable for hotels and investors as it allows for comparisons across a wide array of properties and regions, thus enabling strategic decision-making based on industry trends and competitive performance.

Together, confidentiality and aggregation of data form a foundational aspect of STR's benchmarking services, ensuring that the information provided is both reliable and beneficial for hospitality professionals looking to evaluate their performance against industry standards.