Question

What are some brand standards that chains can set when choosing comp sets?

Answer 1

Chains can set brand standards when choosing comp sets based on target market, geographic location, and service level.

Step-by-step explanation:

When chains are choosing their comp sets, there are several brand standards they can set:

1. Target Market: Chains can set brand standards based on their target market. For example, if a chain primarily caters to luxury customers, they may choose comp sets that consist of high-end hotels.
2. Geographic Location: Chains can set brand standards based on the geographic location of their properties. They may choose comp sets that are in the same city or region to accurately compare their performance.
3. Service Level: Chains can set brand standards based on the service level they provide. They can choose comp sets with similar service offerings to ensure accurate benchmarking.