How competitive sets lead hoteliers to informed business decisions

Hoteliers are best positioned to grow their business when they gain detailed insight into the competition

Benchmarking is the cornerstone of informed decision-making, and Competitive Sets are foundational in any benchmarking experience. That is why so many industry disciplines look to different elements of Competitive Sets to make everyday decisions and build long-term strategies.

Key takeaways

• Revenue managers understand their levels of success and adjust decisions based on changes in revenue generation index (RGI). Revenue managers also use Comp Sets when negotiating distribution expenses with online travel agencies (OTAs);
• Sales & Marketing teams can better align their pricing strategy with their revenue managers because they are working from the same segmentation data sets and performance indices;
• General managers demonstrate their competitiveness to owners and use multiple indices to improve market share. GMs also set bonus targets for their department heads based on index percentage changes.

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