comp set

You may need a different comp set for different market segments and specific need periods as markets continue to grow and change

Can benchmarking help losers take action and create a plan to beat the competition, or distract the team from creating a strategy that could be a winner?

To effectively shape your pricing strategy and make informed rate decisions, you need to ensure you compare the true amount a customer will be paying

Some may argue that competitor data shouldn’t impact your pricing strategy, we believe the pandemic has reinforced it can and should be an indicator

Our guests’ motivations and needs have changed substantially over the last two years, and so must our revenue strategies and focus

In the hotel industry, and other industries, we can use competitive analysis to gauge the market. But what is it, why should we do it and how to we do it

I have heard so many iterations of hotels justifying why they follow competitors pricing strategies. I have never fully understood or agreed with them

Identifying who your guests are, who the competition is and how your hotel is performing relative to other hotels in the market is a real challenge today

While determining the right comp set has always been crucial, it is vital to remain competitive now given our current uncertain market conditions. NB: This is an article from IDeaS […]

Creating hotel packages is no rocket science, but must be strategic. You should consider certain factors while crafting offers that don’t jeopardise revenue