Fairmas hands over the Hotel Benchmarking to their trusted partner STR, a CoStar Group company, to focus on the global presence and distribution of their Financial Planning & Reporting business
BERLIN, 13 October 2022 – Today, Fairmas and their long-term partner STR announced the transfer of Fairmas’ specific business division “Hotel Benchmarking” to STR (a CoStar Group Company).
Over the last 18 years up until now, both partners mutually conducted market research based on the daily data of more than 2.200 hotels throughout Germany. Fairmas now withdraws from this Hotel Benchmarking business and subsequently all participating hotels shall benefit from the global STR expertise in the future.
Fairmas will continue to focus on the growth of their primary business - as a software provider for Financial Planning & Management Reporting. In this context, the company will continue to pursue its global expansion with international product presence.
STR is a natural fit to move hotel benchmarking forward in Germany given the company’s position as the global leader in Hotel-Benchmarking and its long-standing relationships in Europe.
As a well-known market leader for German Hotel Benchmarking, Fairmas decided to transfer this share of their business to the globally valued Benchmarking expert STR. Their expertise is a testimony to the fact that Fairmas’ Benchmarking customers will be in excellent hands.
The heart of Fairmas’ business, their Financial Planning & Management Reporting Software, includes more than 5.000 hotel subscriptions and is consistently growing. Since the other Fairmas products, such as FairPlanner, are not part of the transition to STR, Fairmas will continue to invest in their innovative and tailor-made development for the global hospitality clients. The existing, well-established Fairmas team will remain unchanged and continue to service their customers.