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.
“STR has been in Europe since 2008 and is committed to providing the best products, data and services to clients throughout the region. We are looking forward to continuing the strong customer relationships developed by Fairmas, while offering all of our German hotel clients significant incremental value through planned new products and data sets. We believe that the entire hospitality industry in Germany will benefit as we combine hotel benchmarking products with our CoStar information platform and expand our forward booking and profitability data sets.”Andrew Florance,
Founder and Chief Executive Officer of CoStar Group
‘’With the focus on our growing Hotel Financial Planning & Management Reporting business, this was the next step for Fairmas’ future growth. We are very confident that that our longtime partner STR will take diligent care of our Benchmarking customers in Germany. ‘’Niels Schröder
Managing Director, Fairmas
“I am grateful for our partnership with Fairmas and I am committed to ensuring a smooth transition with real benefits for our mutual clients.”Robin Rossmann,
Managing Director, STR
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.
Fairmas GmbH is a software development company offering financial planning, management reporting and controlling solutions specifically for the hospitality industry. Fairmas also offers data management for hotel owners and investors. It is headquartered in Berlin, with offices in Germany, Spain, and Canada. Since the company’s foundation in 2003, their focus has been on the development of innovative, tailor-made hotel software. With their continuous growth and steady expansion of their product range, more than 5,000 hotels worldwide are satisfied with Fairmas’ hospitality financial BI solutions www.fairmas.com.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. STR maintains the world’s largest hotel performance database with 75,000 participating properties representing 10 million rooms. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit www.str.com
About CoStar Group
CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, www.costargroup.com, as a channel of distribution for material company information.
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