Who creates a competitive set for a chain hotel?

The competitive set for a chain hotel is best created through a joint effort involving many stakeholders because it requires a multifaceted understanding of various market aspects. A competitive set includes other hotels that have similar characteristics—such as location, brand, amenities, and target clientele—that potentially compete for the same customers.

Involving multiple stakeholders ensures a more comprehensive analysis of the competition. For instance, the General Manager provides insights into overall operations and performance metrics, Sales and Marketing Managers contribute an understanding of market trends and customer preferences, and the Revenue Manager can analyze pricing strategies and revenue performance. Each of these roles brings unique perspectives and expertise, which collectively help in accurately identifying which hotels should be included in the competitive set.

Moreover, collaboration among different departments fosters comprehensive strategic planning and ensures that the hotel remains competitive in its pricing, marketing, and service offerings. This collaborative approach ultimately leads to better decision-making that can enhance the hotel's market position and revenue potential.