comp set

By monitoring a more comprehensive competitors set, hoteliers can better understand market demand and traveler price sensitivity

We love talking about how we’re different, but when it comes to setting prices, many revenue teams still fall into a trap I call Comparisonitis

To effectively compete in your local hotel market, it’s essential to understand its dynamics. Understanding target audience preferences is crucial

Regularly reviewing and updating your comp set will ensure your benchmarking remains relevant and you continue to capture a larger market share

Effective use of local competitor pricing data is crucial for maximizing hotel’s revenue potential – key lies in strategic application of pricing insights

We explore the dangers of benchmarking, explain why “above benchmark” isn’t enough, and offer actionable strategies to break free

Don’t feel you have to copy your competitors but rather use the information on your compset to improve your value proposition

With these seven tips, you’re ready to tackle your hotel competitive analysis.‍ It’s essential if you want to uncover new revenue and marketing opportunities

P&L data enables you to supplement key top-line metrics and measure impact of top-line decisions on profitability relative to competitive sets

Analyzing hotel compset holds great significance for hoteliers. Here are some of the most evident important reasons that hotels opt for this analysis