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Revenue

Comp set

The comp set is the group of hotels you compare yourself against to tell whether you are doing well or badly. It is chosen by location, category and guest type, not by preference. It is the reference that gives meaning to metrics like the RevPAR index, because a number alone does not say if you are gaining or losing share.

Example An urban four star builds its comp set from five others of the same area and category.

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FAQ

What is a comp set?
A comp set is the group of hotels you compare yourself against to measure performance. It is chosen based on location, category, and guest type, not personal preference. For instance, a 4-star boutique hotel in downtown Madrid will only include similar hotels in the same area in its comp set.
How do you define or build a comp set?
You build a comp set by selecting 4 to 8 direct competitors that share your location, market segment, and average rate. Hotels from a much higher or lower chain tier are excluded because they would skew the analysis. The set should be reviewed at least once a year to reflect market changes.
What is the purpose of a comp set and how is it different from general competition?
The comp set helps you measure market share and performance through metrics like the RevPAR index, while general competition includes any hotel that could attract your potential guests regardless of similarity. For example, a budget hotel may be general competition for a luxury hotel, but it would not be part of its comp set.

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