STR, a data benchmarking and analytics specialist, has acquired LJ Research, a full-service market research agency.
The acquisition will enable STR to provide more comprehensive solutions to clients, particularly in the government, tourism and destination verticals.
LJ Research will gain access to STR’s market-leading data, enabling it to provide unparalleled insights from a combination of customer surveys and hotel performance data.
“STR’s long-term growth strategy is to elevate our services from solely providing data to providing solutions,” said Robin Rossmann, managing director for STR.
“LJ Research has a proven track record in providing high-quality statistics and insights for its clients. Perhaps most importantly though, it was the high quality of the LJ team and the similarity of their culture with our own that convinced us this was a great decision.”
Financial terms of the deal were not disclosed.
“We believe that as part of STR, we will be able to expand and improve upon our services and help more businesses achieve great results,” said Sean Morgan, LJ Research’s managing director.
“Both of our companies are focused on helping clients compete by providing data and insights that are not only thorough, but actionable.
“Above all, STR’s high standards for accuracy and confidentiality are in line with our own data integrity standards.
“Lynn and I, along with the rest of the LJ Research team, truly are very excited about the future.”