Building a Comp Set – Best Practices
Building a Comp Set – Best PracticesHotel competitive sets, commonly known as “comp sets,” are a core element of STR’s performance benchmarking program. Without a comp set, and the marketplace intel that comes along with it, you’re left guessing as to where you can improve the performance of your property or portfolio.
The role of profitability data in a comprehensive hotel benchmarking experience
The role of profitability data in a comprehensive hotel benchmarking experienceHotel owners and operators are best positioned for success when they measure their business from every angle. That is why no benchmarking experience can be considered comprehensive without frequent insight into the bottom line.
What is Revenue per Available Room (RevPAR)? And how to calculate it.
What is Revenue per Available Room (RevPAR)? And how to calculate it.- How to calculate RevPAR (Formula and Examples)
- What is the relationship between ADR and RevPAR?
- How to use RevPAR
- The Role of RevPAR in Profitability
- RevPAR Alternatives
What is Revenue per Available Room (RevPAR)?
What is TRevPAR and why is it important?
What is TRevPAR and why is it important?In a previous post, we discussed the vital role of RevPAR when measuring hotel performance.
What is Hotel Benchmarking?
What is Hotel Benchmarking?Hotel benchmarking is the process of comparing your property's or portfolio’s performance against the competition, adding a layer of context to what success and failure looks like in your circumstances and environment.
Hotel benchmarking can help you answer questions such as:
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