Defining your competitive set

What makes a Competitor? – the customer determines your competitive set.

You could have a different competitive set for Weekday vs. Weekend business

Your competitive set is based on –

  • Location
  • Level of Service
  • Quality of Guest rooms
  • Brand Awareness & loyalty programs
  • Public Area Physical Quality
  • Online Presence
  • Reviews and social media
  • Services and facilities
  • Price

It is these points that determine value in the customers mind and what they will compare on. It is important to look at benchmark and analyse a range of properties from the customers perspective not who we would like to think our comp set is.

Comp set can vary from weekday to weekend traffic, seasonal or a particular event in the area.

This analysis is something to be done regularly as part of your revenue management strategy.

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