STR Report definition

STR Report means ▇▇▇▇▇ Travel Research Report produced for the Hotel by ▇▇▇▇▇ Travel Research or, if ▇▇▇▇▇ Travel Research no longer is in existence, the successor of ▇▇▇▇▇ Travel Research or such other industry resource that is equally as reputable as ▇▇▇▇▇ Travel Research will be substituted, in order to obtain substantially the same result as would be obtained if ▇▇▇▇▇ Travel Research has not ceased to be in existence.
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STR Report means Smi▇▇ ▇▇avel Research Report produced for the Hotel by Smi▇▇ ▇▇avel Research or, if Smi▇▇ ▇▇avel Research no longer is in existence, the successor of Smi▇▇ ▇▇avel Research or such other industry resource that is equally as reputable as Smi▇▇ ▇▇avel Research will be substituted, in order to obtain substantially the same result as would be obtained if Smi▇▇ ▇▇avel Research has not ceased to be in existence.
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STR Report means a ▇▇▇▇▇ Travel Research Report for each Individual Property in the form of Exhibit L attached hereto
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Examples of STR Report in a sentence

  • If an individual Hotel’s performance, as measured by the monthly STR Report, for the following three (3) consecutive month period after notice of termination is provided, has a positive RevPAR change versus its competitive set, then the Negative RevPAR Individual Hotel Performance Failure shall be deemed cured and Lessee shall have no right to terminate for such Negative RevPAR Individual Hotel Performance Failure (and any notice of termination with respect thereto shall be deemed null and void).

  • If however, the individual Hotel’s performance at any given period after termination has been cured, as measured by the monthly STR Report for the following twelve (12) month period, again becomes greater than negative 10% change against the individual Hotel’s competitive set as measured by the running (12) month period, Lessee may terminate this Agreement with respect to the individual Hotel upon sixty (60) days prior written notice and Operator shall no longer have the option to cure.

  • If the Hotel portfolio managed by Operator has more than 75% of the Hotels achieve a positive RevPAR change versus its competitive set as measured by the monthly STR Report performance, for the following three (3) consecutive month period after notice, then the Operator RevPAR Performance Failure shall be deemed cured and Lessee shall have no right to terminate for such RevPAR Hotels Performance Failure (and any notice of termination with respect thereto shall be deemed null and void).

  • If the Hotel’s performance, as measured by the monthly STR Report, for the following three (3) consecutive month period after notice of termination is provided, has a positive RevPAR change versus its competitive set, then the Negative RevPAR Individual Hotel Performance Failure shall be deemed cured and Lessee shall have no right to terminate for such Negative RevPAR Individual Hotel Performance Failure (and any notice of termination with respect thereto shall be deemed null and void).

  • If, however, the Hotel’s performance at any given period after termination has been cured, as measured by the monthly STR Report for the following twelve (12) month period, again becomes greater than negative 10% change against the individual Hotel’s competitive set as measured by the running twelve (12) month period, Lessee may terminate this Agreement with respect to the individual Hotel upon sixty (60) days prior written notice and Operator shall no longer have the option to cure.

  • If the Hotel, after the Operator has managed the Hotel for a consecutive twelve (12) month period, at any point, has a negative RevPAR change versus its competitive set, as of the date hereof, as measured by the monthly STR Report of greater than 10% for a running (12) month period (“Negative RevPAR Individual Hotel Performance Failure”), subject to the cure periods below, Lessee may terminate this Agreement with respect to the individual Hotel upon sixty (60) days prior written notice to Operator.

  • For purposes of this Section, a “Competing Hotel” shall mean any hotel, inn, motel or other type of lodging facility that is within the geographic area covered by the STR Report for the Hotel that markets directly to or makes efforts to attract customers, guests and/or hotel business that would otherwise do business with the Hotel.

  • If however, the Hotel’s performance at any given period after termination has been cured, as measured by the monthly STR Report for the following twelve (12) month period, again becomes greater than negative 10% change against the individual Hotel’s competitive set as measured by the running (12) month period, Lessee may terminate this Agreement with respect to the individual Hotel upon sixty (60) days prior written notice and Operator shall no longer have the option to cure.

  • Each Quarterly Report shall be prepared in a manner consistent with the Uniform System of Accounts and shall be accompanied by (a) a certificate signed by the chief financial officer of the Borrowers stating that to such officer’s knowledge the attached Quarterly Report is true, correct, accurate and complete and fairly presents the results of the operations of each Individual Property and all of the Properties on a cumulative basis and (b) the most recent STR Report for each Individual Property.

  • Within forty-five (45) days after the end of each calendar quarter, an STR Report for each Hotel Property.


More Definitions of STR Report

STR Report means the STR Report, as published by ▇▇▇▇▇ Travel Research, or any successor or substitute publication designated by Owner. Uneconomic for its Primary Intended Use means a state or condition of the Hotel such that, in the good faith judgment of Owner and Manager, reasonably exercised, the Hotel cannot be operated on a commercially practicable basis for hotel purposes and such other uses as may be necessary or incidental thereto, taking into account, among other relevant factors, the number of usable rooms and projected revenues and expenses.
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STR Report means Smith Travel Research Report produced for the Hotel by Smi▇▇ ▇▇avel Research or, if Smith Travel Research no long▇▇ ▇▇ in existence, the succe▇▇▇▇ of Smith Travel Research or such other industry resource that ▇▇ ▇qually as reputable as Smith Travel Research will be substituted, in order to obt▇▇▇ ▇ubstantially the same result as would be obtained if Smith Travel Research has not ceased to be in existence.
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STR Report means ▇▇▇▇▇ Travel Research Report produced for the Hotel by ▇▇▇▇▇ Travel Research or, if ▇▇▇▇▇ Travel Research no longer is in existence, the successor of ▇▇▇▇▇ Travel Research or such other industry resource that is equally as reputable as ▇▇▇▇▇ Travel Research will be substituted, in order to obtain substantially the same result as would be obtained if ▇▇▇▇▇ Travel Research has not ceased to be in existence. "Unrelated Persons" shall have the meaning set forth in Section 21.09. "Working Capital Amount" shall be $10,000, which will be distributed by Lessee as necessary. (b) Terms with initial capital letters which appear within the foregoing definitions are defined in this Article 1 or as indicated in this Agreement. Dollars are denominated in U.S. Dollars.
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Related to STR Report

  • GLJ Report means the independent engineering reserves evaluation of certain oil, NGL and natural gas interests of the Company prepared by GLJ dated February 8, 2016 and effective December 31, 2015;

  • MI Report means a report containing Management Information submitted to the Authority in accordance with Framework Schedule 9 (Management Information);

  • ESDM Report means the Emission Summary and Dispersion Modelling Report prepared in accordance with the Procedure Document by Canadian ORTECH Environmental Inc. and dated March 26, 2004 submitted in support of the application, and includes any amendments to the ESDM Report listed in Schedule A, and all up-dated ESDM Reports prepared as required by the Documentation Requirements conditions of this Certificate.

  • CREFC® Investor Reporting Package (IRP) Collectively: (a) the following nine data files (and any other files as may be, or have been, adopted and promulgated by CREFC® as part of the CREFC® Investor Reporting Package (IRP) from time to time): (i) CREFC® Loan Setup File, (ii) CREFC® Loan Periodic Update File, (iii) CREFC® Property File, (iv) CREFC® Bond Level File, (v) CREFC® Financial File, (vi) CREFC® Collateral Summary File, (vii) CREFC® Special Servicer Loan File, (viii) CREFC® Special Servicer Property File and (ix) CREFC® Schedule AL File;

  • City Ledger Report means a list submitted by the Contractor indicating on a daily basis its total number of sleeping room nights rented as well as the total number for sleeping rooms removed from its available inventory or rentals, for purposes of repair.