Amanda Hite stands at the forefront of hospitality innovation. As president of STR, she leads a talented team in creating invaluable industry reports.
Her strategic vision and leadership are instrumental in transforming the way data is utilised in the hospitality sector, paving the way for future advancements.
Leading STR’s Vision for the Future
Amanda Hite shoulders the immense responsibility of leading STR’s 290-strong team tasked with producing essential benchmarking reports for the hospitality industry. Under her leadership, the company tracks performance data from 85,000 properties, thereby aiding hotel owners and managers in setting competitive room rates and making critical development decisions.
A key element of Hite’s strategy involves tailoring data tools for distinct segments of the hospitality market. Her intention is to amplify STR’s reach on a global scale, providing precise, customisable analytics to support the diversified needs of the hospitality industry, including all-inclusive resorts and branded residences.
The CoStar Acquisition and Its Impact
The acquisition of STR by CoStar Group in 2019 for $450 million was a pivotal moment. This cash deal marked a shift from traditional data delivery—such as emailed spreadsheets—to a more sophisticated subscription-based software platform.
This transition has enhanced STR’s ability to present a holistic view of commercial real estate across all asset classes. This development aligns with Hite’s vision of innovation and precision in data analytics, further solidifying her influence within the industry.
A Visionary Leader’s Journey
Amanda Hite’s journey in the hospitality industry is a testament to her dedication and strategic acumen. Her relationship with STR began in 2005, when she first crossed paths with founder Randy Smith. Despite a lack of an existing position, her skills warranted the creation of one.
Hite’s rise to president within five years showcases her impactful presence and capability. Since assuming this role, her most significant achievement has been expanding STR beyond North America, leveraging her foresight and determination.
This expansion is part of Hite’s broader ambition to revolutionise data tools within the industry. By focusing on bespoke solutions for different market segments, she addresses the nuanced demands of modern-day hospitality, thereby shaping STR’s future trajectory.
Industry Contributions and Insights
Renowned for her insights, Hite frequently speaks at industry conferences, sharing expert perspectives on hospitality trends. She discusses the implications of phenomena such as short-term rentals and their impact on hotel demand.
Her involvement extends to serving on the board of directors at the Nashville Branch of the Federal Reserve Bank of Atlanta since 2022, underscoring her broad industry influence.
The Evolution of Data in Hospitality
The evolution of data analytics under Amanda Hite’s leadership reflects significant advancements in how information is utilised within the hospitality sector. STR’s data-driven approach enables more informed decision-making, equipping stakeholders with critical insights.
Previously, the company’s offerings were limited to traditional hotels. Now, under Hite’s guidance, STR is developing bespoke reports that capture detailed analytics, encompassing key metrics such as package rates and total revenue per available room.
Hite’s strategic foresight is paving the way for a more advanced, data-centric future in hospitality.
Future Opportunities and Challenges
Looking forward, Amanda Hite is focused on broadening STR’s scope beyond conventional hotels. Her objective is to offer customised solutions that account for emerging trends
By expanding STR’s focus, Hite is addressing the increasing demand for nuanced data tools tailored to specific segments within the market.
Her innovative approach is setting new benchmarks in hospitality data analytics.
Amanda Hite’s pioneering efforts in data analytics are reshaping the hospitality industry, steering it towards a future defined by precision and adaptability.
Her contributions and foresight continue to drive the industry forward, setting new standards in data-driven decision-making.