STAR Report definition

STAR Report means (a) a quarterly Xxxxx Travel Accommodations Report compiled by Xxxxx Travel Research, or (b) should Xxxxx Travel Research cease to compile such reports, a quarterly report containing similar data compiled by a nationally-recognized lodging industry information source which is reasonably acceptable to Lender and (except during any period following the occurrence and during the continuation of an Event of Default) Borrowers.

STAR Report shall have the meaning set forth in the Mortgage Loan Agreement.

STAR Report means the report which is produced by Sxxxx Travel Research (or, if Sxxxx Travel Research no longer is in existence at any time during the Term, the substantially similar report of the successor of Sxxxx Travel Research or such other industry resource that is equally as reputable as Sxxxx Travel Research will be substituted, in order to obtain substantially the same result as would be obtained if Sxxxx Travel Research had not ceased to be in existence) which assesses and compares the performance of hotels within a selected competitive set and includes comparisons of revenues per available room, average daily rates and occupancy rates.

Examples of STAR Report in a sentence

• If such Xxxxx'x STAR Report is discontinued in the future, or ceases to be a satisfactory source of data regarding the REVPAR of various hotels in the general trade area of the Facility (as provided in the Management Agreement), Tenant shall select, or shall cause Manager to select, an alternative source in accordance with the Management Agreement.

• Submarket shall have the meaning as used by Xxxxx Travel Research in its STAR Report (or if such report shall no longer be available to Agent or such term shall no longer be used in such report, then such other definition as Agent may reasonably determine).

• Revenue Data Publication" shall mean Xxxxx'x STAR Report, a monthly publication distributed by Xxxxx Travel Research, Inc., of Gallatin, Tennessee, or an alternative source, reasonably satisfactory to both parties, of data regarding the REVPAR of hotels in the general trade area of the Facility.

• REVENUE DATA PUBLICATION" shall mean Xxxxx'x STAR Report, a monthly publication distributed by Xxxxx Travel Research, Inc., of Gallatin, Tennessee, or an alternative source, reasonably satisfactory to both parties, of data regarding the REVPAR of hotels in the general trade area of the Facility.

• If such Xxxxx’x STAR Report is discontinued in the future, or ceases (in the reasonable opinion of either Owner or Operator) to be a satisfactory source of data regarding the Revenue Per Available Room of various hotels in the general trade area of the Hotel, Operator shall select an alternative source, subject to Owner’s approval.

More Definitions of STAR Report

STAR Report with respect to any Real Property, a Xxxxx Travel Accommodation Report (STAR) by Xxxxx Travel Research or any other report which reflects market penetration and relevant hotel properties competing with such Real Property, in each case in form and substance reasonably satisfactory to the Administrative Agent.

STAR Report with respect to any Real Property, a Xxxxx Travel Accommodation Report (STAR) by Xxxxx Travel Research or any other report which reflects market penetration and relevant hotel properties competing with such Real Property, in each case in form and substance reasonably satisfactory to the Administrative Agent. “State”: any state, commonwealth or territory of the United States of America, in which the subject of such reference or any part thereof is located. “Subsidiary”: as to any Person, a corporation, partnership, limited liability company or other entity of which shares of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise qualified, all references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower.

STAR Report means (a) a quarterly Xxxxx Travel Accommodations Report compiled by Xxxxx Travel Research, or (b) should Xxxxx Travel Research cease to compile such reports, a quarterly report containing similar data compiled by a nationally-recognized lodging industry information source which is reasonably acceptable to the Servicer and (except during any period following the occurrence and during the continuation of an Event of Default) Issuers.

STAR Report means a STAR Report issued by STR, Inc. (or any successor or other entity that succeeds STR, Inc. in customarily providing such reports in the hotel industry) with respect to the Hotel.

STAR Report means the "Star Report" published by Xxxxx Travel Research.

STAR Report means the "Star Report" published by Smith Travel Research.

STAR Report means the "Star Report" published by Smitx Xxxvel Research.