CHIA Hotel Industry Analytical
Foundations UPDATED ACTUAL
Exam Questions and CORRECT
Answers
Save
Terms in this set (32)
benchmarking taking place at different levels
is relied upon (property, chain, city)
heavily in the
hotel industry,
the key to competitive set (aka comp set)
benchmarking
at the property
level is the
, a group of hotels used primarily
for comparison against a subject
property, sharing similar qualitative
competitive set
and quantitive features, aiding
sales and marketing and often
used in management contracts
STR started confidentiality, accuracy, and
providing aggregation of data
benchmarking
information in
the 1980's with
several
foundations
comp sets can a hotel is under construction and a
be created hotel can receive an "under
when construction" STAR report
for a hotel chain joint effort with multiple
the comp set stakeholders
decision is a
, what is the - 4 minimum
average - but between 5-6
number of
hotels in a
comp set?
key participation, proximity, pricing,
considerations product
when creating
comp sets (4
P's)
hotels submit different types of
data; monthly, daily,
particiaption
group/transient. check
participation for each
competitors will be relatively close
proximity to your hotel, check the distance
field
competitors will have similar
pricing pricing, check class, better than
scale, also check the internet.
features, amenities and services,
product check fields like number of rooms
and meeting spaces.
Foundations UPDATED ACTUAL
Exam Questions and CORRECT
Answers
Save
Terms in this set (32)
benchmarking taking place at different levels
is relied upon (property, chain, city)
heavily in the
hotel industry,
the key to competitive set (aka comp set)
benchmarking
at the property
level is the
, a group of hotels used primarily
for comparison against a subject
property, sharing similar qualitative
competitive set
and quantitive features, aiding
sales and marketing and often
used in management contracts
STR started confidentiality, accuracy, and
providing aggregation of data
benchmarking
information in
the 1980's with
several
foundations
comp sets can a hotel is under construction and a
be created hotel can receive an "under
when construction" STAR report
for a hotel chain joint effort with multiple
the comp set stakeholders
decision is a
, what is the - 4 minimum
average - but between 5-6
number of
hotels in a
comp set?
key participation, proximity, pricing,
considerations product
when creating
comp sets (4
P's)
hotels submit different types of
data; monthly, daily,
particiaption
group/transient. check
participation for each
competitors will be relatively close
proximity to your hotel, check the distance
field
competitors will have similar
pricing pricing, check class, better than
scale, also check the internet.
features, amenities and services,
product check fields like number of rooms
and meeting spaces.
