CoStar Group into Acquire STR, A Global Leader at Benchmarking & Analytics 4 The Hospitality IndustryYAHOO! #GAAP_Net

CoStar Group into Acquire STR, A Global Leader at Benchmarking & Analytics 4 The Hospitality IndustryYAHOO! #GAAP_Net

October 13, 2019 0 By NewsTakers

Transaction Enables CoStar to Provide Comprehensive and Precise Data and Analytics on the $3 Trillion Hotel Commercial Real Estate Asset Class
CoStar currently provides basic building information on 80,000 hotels, 45,000 hotel sale comparables, and 4,500 hotels offered for sale.
We believe that the combination of the two companies’ offerings will allow us to create valuable new and improved tools for investors, lenders, and service providers for use in developing, financing, valuing, and selling hotel properties.
We plan to integrate STR data with CoStar to create exciting new products that provide building data, income level and trend reports, sales comps, for sale information, etc.
In addition, CoStar plans to invest in and grow STR’s net operating income benchmarking and analytics products.
Combining STR’s capabilities with the significant CoStar data assets will allow for the creation of new benchmark products for commercial leases and multifamily operating metrics that would be extremely valuable to owners, brokers, lenders, tenants, and property managers.
“CoStar brings leading technologies, analytics and sales capabilities that we believe will enable STR to accelerate growth and increase the value and insights we provide to our hospitality clients.
Other than in publicly available statements, the Company does not intend to update its forward-looking statements until its next quarterly results announcement.
For information regarding the purpose for which management uses the non-GAAP financial measures disclosed in this release and why management believes they provide useful information to investors regarding the Company’s financial condition and results of operations, please refer to the Company’s latest periodic report.
The following factors, among others, could cause or contribute to such differences: the possibility that the acquisition of STR does not close when expected or at all; the risk that the businesses of STR, and CoStar may not be combined successfully or in a timely and cost-efficient manner; the risk that the combination does not produce the expected benefits for STR’s and CoStar’s customers and users or result in further market penetration and accelerated STR growth as stated in this release; the risk that business disruption relating to the STR acquisition may be greater than expected; the risk that synergies from the acquisition of STR, including as a result of cross-selling and cost efficiencies, may not be as expected, may not be fully realized, may take longer to realize than expected; the risk that the acquisition and combination of services does not produce the expected results for CoStar or its customers and advertisers, including as stated in this release; the risk that STR revenues, EBITDA and EBITDA margins for 2019 will not be as stated in this press release; the risk that STR revenues and the impact on non-GAAP net income per share in the fourth quarter of 2019 will not be as stated in this release; the risk that expected investments in STR, or the timing of any such investments, may change or may not produce the expected results as stated in this release; the risk that the Company is unable to achieve its adjusted EBITDA margin goal as stated in this release; and the risk that the combination and integration of STR will disrupt CoStar Group’s or STR’s operations or result in the loss of customers or key employees.

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