Instead of the echo, you can use a simple affectation :
$request = "CVentriloStatus->Request() failed. <strong>$stat->m_error</strong><br><br>\n";
But you'll soon have issues to manage multiple variables.
You could create an object to handle and store your information, but If you need something easy to set up and simple to operable, I'd go for arrays :
$ventriloStatus = array();
$ventriloStatus['requestObj'] = $stat->Request();
$ventriloStatus['requestMsg'] = "CVentriloStatus->Request() failed. <strong>$stat->m_error</strong><br><br>\n";
Add your data using keys.
Then retrieve the value easily :
echo $ventriloStatus['requestMsg'];
You can even parse your data using a simple loop
foreach($ventriloStatus as $key => $value){
echo $key.' : '.$value.'<br />';