Hotel performance is ultimately about which hotels are most successful in attracting guests and how much revenue those guests choose to spend
Hotels have lots of ways to compare themselves to other hotels:
- Owners and operators know about how a hotel’s historical performance compared to similar pieces of real estate.
- Revenue managers know about their competitors’ rates and availability, and which channels their bookings are coming from.
- Brands know how all of the hotels in their brand compare to one another in terms of quality, perfomance, guest satisfaction, etc.
These data points are valuable for the types of analysis that we do, but do they tell the whole story?
To understand future performance we must see the market from a potential booker’s perspective, rather than our own. With this in mind, Hotel Compete answers questions like:
- Who are my true competitors–ie if someone is considering booking my hotel today, which other hotels are they most likely considering?
- How do these hotels compare with one another in terms of quality, price, customer perception?
- How should we expect these hotels to perform in a competitive local market?