[PDF] An Analysis of the Changing Competitive Landscape in the Hotel

What is a hotel competitor analysis?

If you’ve ever worked on strategic planning for business growth or a marketing strategy, you may have done a SWOT analysis or an evaluation of your business’s strengths, weaknesses, opportunities, and threats. Similarly, in the hospitality industry, a hotel competitor analysis helps you find your “sweet spot” in your local market.

How do I choose a hotel competitive set?

1. Choose your hotel competitive set, also known as a hotel compset. Select 3-5 direct competitors in your market (in our example we use 4). For an accurate comparison, choose properties that attract a similar target audience and potential guests as your property. 2.

What factors affect hotel rates?

Two major factors impact hotel rates the most: what your competitors are doing and your current occupancy. Large hotel chains, like Hilton and Marriott, have the budget to hire a revenue manager. Revenue management can be time-consuming and expensive, and it requires an understanding of data and strategic decision-making.

Should you mirror your competitors' strategies?

Mirroring your competitors’ strategies won’t win the battle, but awareness of their specialized niches and unique vulnerabilities can help guide your tactics. Highlight your nearness to the beach and stellar ocean views if they outdo the partially obscured views of competitors.