An Edinburgh-based research business that provides key data to the tourism, travel and hospitality industry has been bought by a London peer for an undisclosed sum.
STR said it was buying LJ Research to provide it with a more comprehensive service to clients, particularly in the government, tourism and destination markets.
The regular LJ Forecaster report has become a key barometer of the performance of Scotland’s hotel sector. The Scots firm also runs an online survey engine, called Visitrac.
Sean Morgan, LJ Research’s managing director, said: “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.
“Both of our companies are focused on helping clients compete by providing data and insights that are not only thorough, but actionable.”
STR was founded in 1985 and maintains a presence in ten countries.
Managing director Robin Rossmann said: “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.”