What type of data do hotels typically submit for benchmarking purposes?

Hotels typically submit monthly, daily, and group/transient data for benchmarking purposes. This type of data provides a comprehensive view of a hotel's performance over time, allowing for more accurate comparisons against industry standards and competitors. Monthly data provides trends and patterns, while daily data can highlight fluctuations in performance, occupancy, and revenue. Additionally, separating the data into transient and group segments allows hotels to analyze different customer types, aiding in strategic decision-making and marketing efforts.

Annual summaries alone do not provide the level of detail required for meaningful benchmarking, as they may not capture seasonal variations or short-term trends. Participation reports, while useful, are often about involvement or adherence to programs rather than specific performance metrics. Employee performance metrics, though valuable for internal assessments, do not typically serve in the benchmarking process against industry peers. Therefore, the combination of monthly, daily, and group/transient data is essential for hotels to accurately gauge their performance relative to the market.