Recruiter's Glossary

Examples: Out of Order • Housekeeping • Attrition Rate

Comp Set

Term from Hospitality industry explained for recruiters

A Comp Set (short for Competitive Set) is a group of hotels or properties that are considered direct competitors to a specific hotel. It's like creating a list of nearby hotels that compete for the same type of guests and have similar features, prices, or quality levels. Hotels use Comp Sets to compare their performance, pricing, and services against their competitors. This helps them make better decisions about room rates and understand if they're doing better or worse than similar hotels in their area. Think of it as a way hotels keep track of their competition, similar to how retail stores monitor prices at other nearby stores.

Examples in Resumes

Analyzed Comp Set data to develop competitive pricing strategies that increased RevPAR by 15%

Managed daily Competitive Set reporting and market analysis for 5 luxury properties

Led weekly revenue meetings using Comp Set insights to adjust pricing strategies

Typical job title: "Revenue Managers"

Also try searching for:

Revenue Analyst Hotel Revenue Manager Market Analyst Revenue Management Specialist Pricing Analyst Hotel Operations Manager

Where to Find Revenue Managers

Professional Organizations

Online Communities

Job Boards

Example Interview Questions

Senior Level Questions

Q: How would you determine if a hotel's comp set needs to be adjusted?

Expected Answer: A strong answer should discuss monitoring market changes, new hotel openings, renovations, brand changes, and shifts in guest demographics. They should mention analyzing performance metrics and guest feedback to ensure the comp set remains relevant.

Q: How do you use comp set data to develop pricing strategies?

Expected Answer: The candidate should explain how they analyze rates, occupancy levels, and revenue metrics across the comp set to identify opportunities, considering factors like seasonality, special events, and market trends to make strategic pricing decisions.

Mid Level Questions

Q: What metrics do you typically analyze when comparing your property to its comp set?

Expected Answer: Should mention RevPAR (Revenue Per Available Room), ADR (Average Daily Rate), occupancy rates, and market share, explaining how these metrics help in understanding competitive position.

Q: How often should comp set analysis be performed and why?

Expected Answer: Should discuss daily rate shopping, weekly performance review, and monthly/quarterly trend analysis, explaining why different timeframes matter for different aspects of the business.

Junior Level Questions

Q: What is a comp set and why is it important?

Expected Answer: Should explain that a comp set is a group of competing hotels used for performance comparison, and why this information helps in making pricing and marketing decisions.

Q: What tools are commonly used for comp set analysis?

Expected Answer: Should mention common industry tools like STR reports, rate shopping tools, and revenue management systems used to gather and analyze competitive data.