comp set

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

Those CompSets themselves are being driven by irrelevant factors like employee emotions and outdated RM systems that are not fit for purpose

Benchmarking data is used by all stakeholders in the industry; from hoteliers to management companies, owners to asset management companies

Analyzing your hotel’s compset unveils information to help you stand out. Basically, you must identify the competition to beat the competition!

Sometimes your competition’s rates will be applicable, but moderation is key.  Do not let your competitors drive your rate strategy

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