What it means in plain language
A good comp set is 4-6 hotels of similar quality, location, and customer profile - not just the ones across the street. STR uses your comp set to compute MPI and RGI. Refresh it annually; the moment your comp set stops reflecting your actual competition, every benchmark report becomes noise.
How Comp Set fits in the bigger picture
Comp Set doesn't live alone - it sits inside the Metrics & KPIs category and connects to 2 closely related concepts most working revenue managers track in the same breath. Pair this definition with the related terms below to build a working mental model - definitions in isolation are easy to memorize and easy to misuse.
Related terms you should also know
Each of these is one click away - start with whichever you don't already use daily: