STR MOVES TO DISMISS ANTITRUST LAWSUIT

STR FILED A motion to dismiss a lawsuit that claims it, along with several major hotel companies conspired to inflate luxury hotel rates. The research
firm said in the motion that the seven individuals named as plaintiffs in the lawsuit failed to show a knowing conspiracy to fix prices through STR’s “Forward
STAR” program in violation of federal antitrust laws.

The lawsuit, filed in February in federal court in Washington state, alleges that STR, owned by commercial real estate information researcher CoStar Group, and
hotel companies including IHG Hotel & Resorts, Marriott International and Hyatt Hotels Corp., entered an exchange of “competitively-sensitive information about
their prices, supply, and future plans” in violation of the antitrust provisions of the Sherman Act, according to the lawsuit.

The plaintiffs seek to make it a class-action filing on behalf of every person who stayed at the defendants’ hotels from February 2020 until the present for an
unspecified amount. However, STR’s motion claims it fails to provide evidence of any illegal actions and is mistakenly part of a current legal trend.