Comp set
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What is a Comp set?
A Comp set, or a Competitive set is a group of, in hospitality, hotels that are seen as direct competitors to your own hotel.
Hotels will often compare their performance against Comp set hotels, in order to find ways to make their own offering more competitive: to stand out, to find a unique proposition or buying reason.
A Competitive set is often used to benchmark your activities and to help develop a strategy. In deciding on sales prices - rates, comparing ones pricing with the ones of their competitors is often done, to support pricing decisions.
Which competitors to put in your Comp set?
Based on your strategy, you make a selection of other hotels who are active in the same market area and who also serve (partly) the same target group.
In theory about competing we call them direct competitors: check the page competition.
As a rule of thumb: a Comp set probably will hold 5 to 10 hotels; so all the hotels in your city in this case.
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