CHIA CERTIFICATION COMPREHENSIVE
SCRIPT 2026 QUESTIONS AND SOLUTIONS
◉ Key Considerations when creating a comp set. Answer: 4 P's
Participation - You obviously want hotels that submit data to STR.
Proximity - Normally, your competitors will be relatively close to
your hotel.
Pricing - In most cases, your competitors will have similar prices to
your hotel
Product - Your competitors will generally be similar to your hotel
when it comes to features and amenities.
◉ Remember that participation can mean four different types of
data, especially if that data is important to you:. Answer: Monthly -
this is usually the default
Daily - most hotels submit daily data each day or each week
,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)
Additional Revenue - some hotels submit Food & Beverage and
Other Revenue in addition to Room Revenue
◉ You can obtain a list of potential competitors from STR with
specific fields that indicate the proximity related to your hotel..
Answer: Distance - from the competitor to the subject hotel. This is
really the main thing you need. The actual distance from competitors
may be very different for urban, suburban, interstate or "small town"
(rural) hotels.
Market and Tract/Submarket - These categories will help you
identify hotels that are geographically close to the subject hotel.
You can also check other geographic fields such as City, Zip/Postal
Code, County.
Location - This field can help show clusters of hotels related to
something like an airport, a downtown area, or a beach/resort area.
◉ On the list of competitors there will be several fields that provide
some indication of the price level of the competitors.. Answer: Class -
,The Class Category is probably the best to use, because it identifies
similar chains hotels as the subject, as well as independent hotels
that are in a similar price level. It is not uncommon to look for
competitors in one Class category above or below the subject.
Scale - The Scale category will just identify similar chain hotels.
Fields such as Rack Rates (public info gathered through surveys) and
Price Level are not as reliable for pricing information.
Price related information can also be found on the internet.
◉ Product
There are other fields that will describe the features of hotels..
Answer: Number of Rooms - In most cases the members of a Comp
Set should be somewhat similar in size to the Subject hotel. Size is
somewhat reflective of the type of business.
Meeting Space - Compare these values for possible competitors.
Open Date - The age of the hotel can help when considering Comp
Set members.
Hotel Type - These fields (Boutique, Extended Stay, Convention, All-
Suites, ...) can help to identify hotels similar to the subject.
, Amenities - Check these fields (Restaurant, Spa, Waterpark,
Oceanfront, ...) to help indentify similar hotels.
◉ Comp Set Rule #1. Answer: The first rule relates to "sufficiency".
In North America and Asia Pacific, comp sets must include three or
more hotels in addition to the subject. Hotels are encouraged to have
four or more so that if a hotel does not report for a time period for
some reason, the comp set data will still appear.
◉ Comp Set Rule #2. Answer: In Europe and Mideast/Africa, comp
sets must include four or more hotels in addition to the subject.
◉ Comp Set Rule #3. Answer: The second set of rules relate to
"percentage checks" and help to ensure that the data of a single
hotel, chain or company is not isolated. When percentages are
calculated the rooms of the subject hotel, as well as those in the
same chain and parent company, are excluded.
No single property or chain (e.g. Holiday Inn, Comfort Inn, etc.) can
account for more than 40% of the total participating room supply of
a competitive set (50% in Europe or Mideast/Africa).
SCRIPT 2026 QUESTIONS AND SOLUTIONS
◉ Key Considerations when creating a comp set. Answer: 4 P's
Participation - You obviously want hotels that submit data to STR.
Proximity - Normally, your competitors will be relatively close to
your hotel.
Pricing - In most cases, your competitors will have similar prices to
your hotel
Product - Your competitors will generally be similar to your hotel
when it comes to features and amenities.
◉ Remember that participation can mean four different types of
data, especially if that data is important to you:. Answer: Monthly -
this is usually the default
Daily - most hotels submit daily data each day or each week
,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)
Additional Revenue - some hotels submit Food & Beverage and
Other Revenue in addition to Room Revenue
◉ You can obtain a list of potential competitors from STR with
specific fields that indicate the proximity related to your hotel..
Answer: Distance - from the competitor to the subject hotel. This is
really the main thing you need. The actual distance from competitors
may be very different for urban, suburban, interstate or "small town"
(rural) hotels.
Market and Tract/Submarket - These categories will help you
identify hotels that are geographically close to the subject hotel.
You can also check other geographic fields such as City, Zip/Postal
Code, County.
Location - This field can help show clusters of hotels related to
something like an airport, a downtown area, or a beach/resort area.
◉ On the list of competitors there will be several fields that provide
some indication of the price level of the competitors.. Answer: Class -
,The Class Category is probably the best to use, because it identifies
similar chains hotels as the subject, as well as independent hotels
that are in a similar price level. It is not uncommon to look for
competitors in one Class category above or below the subject.
Scale - The Scale category will just identify similar chain hotels.
Fields such as Rack Rates (public info gathered through surveys) and
Price Level are not as reliable for pricing information.
Price related information can also be found on the internet.
◉ Product
There are other fields that will describe the features of hotels..
Answer: Number of Rooms - In most cases the members of a Comp
Set should be somewhat similar in size to the Subject hotel. Size is
somewhat reflective of the type of business.
Meeting Space - Compare these values for possible competitors.
Open Date - The age of the hotel can help when considering Comp
Set members.
Hotel Type - These fields (Boutique, Extended Stay, Convention, All-
Suites, ...) can help to identify hotels similar to the subject.
, Amenities - Check these fields (Restaurant, Spa, Waterpark,
Oceanfront, ...) to help indentify similar hotels.
◉ Comp Set Rule #1. Answer: The first rule relates to "sufficiency".
In North America and Asia Pacific, comp sets must include three or
more hotels in addition to the subject. Hotels are encouraged to have
four or more so that if a hotel does not report for a time period for
some reason, the comp set data will still appear.
◉ Comp Set Rule #2. Answer: In Europe and Mideast/Africa, comp
sets must include four or more hotels in addition to the subject.
◉ Comp Set Rule #3. Answer: The second set of rules relate to
"percentage checks" and help to ensure that the data of a single
hotel, chain or company is not isolated. When percentages are
calculated the rooms of the subject hotel, as well as those in the
same chain and parent company, are excluded.
No single property or chain (e.g. Holiday Inn, Comfort Inn, etc.) can
account for more than 40% of the total participating room supply of
a competitive set (50% in Europe or Mideast/Africa).
