supply numbers over time for scales and classes*
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(1) the supply (number of rooms available) for certain industry segments
where scale, class, or chain come into play can vary over time due to more
or more situation: conversions in, conversions out
(2) the number of rooms for the conversion out will normally equal the
number of rooms for the conversion in, unless there was a simultaneous
room add or drop
Benchmarking in the hotel industry*
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, (1) individual hotels compare their performance to the performance of a
competitive set of hotel. this info is carefully tracked by the "subject" hotel,
the owner of the comp set
(2) individual hotels can also compare their performance to hotels in pre-
defined industry segments neat their hotel (i.e. the market or
tract/submarket where they are located)
(3) companies compare their own properties to a variety of comparative
groups of hotels to gauge the performance of their portfolio
(4) tourism organizations also compare their local area to "comparable"
markets
what are the Location Category?
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(1) urban
(2) suburban
(3) airport
(4) interstate
(5) resort
(6) small metro/town
Worldwide Markets
What are they based on?
Can markets cross country boundaries?
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, (1) countries outside the US contain varying numbers of markets. Markets
are based upon the number of hotels and the participation
(2) markets are reviewed annually to determine if new markets may be
created based on growth in available supply and sample
(3) smaller countries may consist of a single market
(4) countries that are slightly larger may consist of a market for the major
city and then a second market for all of the other hotels, named something
like "Country Name Area"
(5) countries that are larger may consist of markets for several major cities
and then an additional market for all of the other hotels (Country Name
Area)
(6) Largest countries will have many markets just like the US
(7) No market will ever cross country boundaries
(8) various hotel industry publications will refer to groups of WW markets
just like in the US
How NOT to calculate metrics for multiple time periods?
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(1) numbers for multiple periods never use averages of monthly or daily
values
(2) some people mistakenly compute YTD occupancy, for example, by
adding the occupancy of each month and dividing by the number of
months
(3) this gives you a number which is close to the accurate number but this
methodology assigns the same weight to each month instead of weighing
based upon the number of days in each month
Mideast Africa
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(1) middle east
(2) northern africa
, (3) southern africa
Participation (key consideration)
default time
also based on
Give this one a try later!
(1) monthly: this is usually the default
(2) daily: most hotels submit daily data each day or each week
(3) segmentation: many luxury and upper upscale hotels submit rooms sold
and revenue broken down by transient, group, and contract (some hotels
have a second comp set related to this data)
(4) additional revenue: some hotels submit food and beverage and other
revenue in addition to room revenue
Rules relating to changing comp sets
How many must they change?
If only two properties are changed, what is the rule?
What are the two exceptions?
Give this one a try later!
Give this one a try later!
(1) the supply (number of rooms available) for certain industry segments
where scale, class, or chain come into play can vary over time due to more
or more situation: conversions in, conversions out
(2) the number of rooms for the conversion out will normally equal the
number of rooms for the conversion in, unless there was a simultaneous
room add or drop
Benchmarking in the hotel industry*
Give this one a try later!
, (1) individual hotels compare their performance to the performance of a
competitive set of hotel. this info is carefully tracked by the "subject" hotel,
the owner of the comp set
(2) individual hotels can also compare their performance to hotels in pre-
defined industry segments neat their hotel (i.e. the market or
tract/submarket where they are located)
(3) companies compare their own properties to a variety of comparative
groups of hotels to gauge the performance of their portfolio
(4) tourism organizations also compare their local area to "comparable"
markets
what are the Location Category?
Give this one a try later!
(1) urban
(2) suburban
(3) airport
(4) interstate
(5) resort
(6) small metro/town
Worldwide Markets
What are they based on?
Can markets cross country boundaries?
Give this one a try later!
, (1) countries outside the US contain varying numbers of markets. Markets
are based upon the number of hotels and the participation
(2) markets are reviewed annually to determine if new markets may be
created based on growth in available supply and sample
(3) smaller countries may consist of a single market
(4) countries that are slightly larger may consist of a market for the major
city and then a second market for all of the other hotels, named something
like "Country Name Area"
(5) countries that are larger may consist of markets for several major cities
and then an additional market for all of the other hotels (Country Name
Area)
(6) Largest countries will have many markets just like the US
(7) No market will ever cross country boundaries
(8) various hotel industry publications will refer to groups of WW markets
just like in the US
How NOT to calculate metrics for multiple time periods?
Give this one a try later!
(1) numbers for multiple periods never use averages of monthly or daily
values
(2) some people mistakenly compute YTD occupancy, for example, by
adding the occupancy of each month and dividing by the number of
months
(3) this gives you a number which is close to the accurate number but this
methodology assigns the same weight to each month instead of weighing
based upon the number of days in each month
Mideast Africa
Give this one a try later!
(1) middle east
(2) northern africa
, (3) southern africa
Participation (key consideration)
default time
also based on
Give this one a try later!
(1) monthly: this is usually the default
(2) daily: most hotels submit daily data each day or each week
(3) segmentation: many luxury and upper upscale hotels submit rooms sold
and revenue broken down by transient, group, and contract (some hotels
have a second comp set related to this data)
(4) additional revenue: some hotels submit food and beverage and other
revenue in addition to room revenue
Rules relating to changing comp sets
How many must they change?
If only two properties are changed, what is the rule?
What are the two exceptions?
Give this one a try later!
