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Analytical foundations - Coggle Diagram

- - - - Chain continued: hotels that evolved but in some aspects are still the same.
    - - MARRIOTT INTERNATIONAL
        
        Luxury chains, Upperscale, etc.
  - - - allow a parent company to bring unique independent hoteles under a parent company flag, allowing them to access to reservation systems and loyalty programs
    - - Majority are smaller, lower priced, and rural.
- - - - Market: thought of as a city but also rural. no market will cross country boundaries
      - Submarket
        
        Geographic subset: Central Business Distric, airport, suburb name, small city
        
        Large mor than 100 hotels. Created based upon the # of hotels in an area and the participation
        
        Barcelona Market
        
        SUBMARKETS
        
        Centre
        
        Ciutat Vella
        
        Forum / Platja / Sant Martí
        
        Sants-Montjuic
        
        Barcelona Provice Region
- - - - Who decides? for a chain hotel the compset decision is a joint effort with multiple stake holders
      - When can be created? hotel under construction
      - What is the average # of hotels in a comp set? 5-6
      - KEY CONSIDERATIONS
        
        Participation: hotels submit diffetent types of data: monthly, daily, group/transient. check participation for each
        
        Proximity: competitors will be close to your hotel
        
        Pricing: similar prices check class better than scale and check internet as well
        
        Product: features, amenities, services. Check # of rooms ans meeting space
      - HINTS: to create a comp set
        
        Check the 4 Ps
        
        Considering external info
        
        Use intenet to shop rates and learn more about pricing
      - Rules
        
        Sufficiency: 4 hotels or more
        
        Maximun
        
        % checks: no single property or chain can account for more than 50% of the total rooms in a comp set and no single company (parent, mgtco) can account for more than 70% of the total rooms in a comp set (50-50-70 rule)
      - Changing comp sets
        
        Why: different reazons
        
        When: at any time, usually at the beginning of the year
        
        How/rules: must be done by a net change of 2 or more properties to prevent isolation
        
        More: if making a change with two properties both must be in a different chain and company , different from the subject
        
        Exceptions: adding a brand new hotel within six months or removing a property that has closed or stopped participating
      - Additional comp sets
        
        Why: local vs. regional, special niche, different sets for weekday or weekend or group or transient mix
        
        Names: first comp set is referred to as the primary comp set
        
        Rules: second comp set must differ from the primary by at leats two properties