Considerations when creating comp sets
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Participation
Proximity
Pricing
Product
Census
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hotels in the STR database
,Categorizations used by the hotel industry
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Geographic Categories
Non-geographic Categories (also called Classifications)
Who decides?
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•- For a chain hotel, the comp set decision is a joint effort with multiple
stakeholders.
Class
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•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.
market
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, - commonly thought of as a city (metro), but also rural (non-metro) areas.
No market will ever cross country boundaries.
What is the average number of hotels in a comp set
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5 to 6
The top four geographic categories used by the hotel industry are:
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-Continent - four: Americas, Europe, Mideast/Africa, and Asia Pacific
-Sub-Continent - 3 or 4 per continent
-Country - over 200 with one or more hotel
There are many additional affiliations, companies and organizations that are involved
in the hotel industry:
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-Membership and Marketing Groups
-Real Estate Investment Trusts
-Convention & Visitor Bureaus, Tourism and Travel Organizations
-Hotel Associations
-Developers, Consultants, Appraisers
-Wall Street, Accounting, Financial firms
-Media
-Governments
Give this one a try later!
Participation
Proximity
Pricing
Product
Census
Give this one a try later!
hotels in the STR database
,Categorizations used by the hotel industry
Give this one a try later!
Geographic Categories
Non-geographic Categories (also called Classifications)
Who decides?
Give this one a try later!
•- For a chain hotel, the comp set decision is a joint effort with multiple
stakeholders.
Class
Give this one a try later!
•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.
market
Give this one a try later!
, - commonly thought of as a city (metro), but also rural (non-metro) areas.
No market will ever cross country boundaries.
What is the average number of hotels in a comp set
Give this one a try later!
5 to 6
The top four geographic categories used by the hotel industry are:
Give this one a try later!
-Continent - four: Americas, Europe, Mideast/Africa, and Asia Pacific
-Sub-Continent - 3 or 4 per continent
-Country - over 200 with one or more hotel
There are many additional affiliations, companies and organizations that are involved
in the hotel industry:
Give this one a try later!
-Membership and Marketing Groups
-Real Estate Investment Trusts
-Convention & Visitor Bureaus, Tourism and Travel Organizations
-Hotel Associations
-Developers, Consultants, Appraisers
-Wall Street, Accounting, Financial firms
-Media
-Governments
