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3 Ways to Rethink Your Comp Set to Discover New Group Business

In The Know - Knowland Blog 25 September 2017
Who do you consider your “comp set?” STR defines competitive set (comp set) as “a peer group of hotels that competes for business and is selected to benchmark [a] property’s performance.” Having a local comp set of comparable properties is great for setting rate strategies and for benchmarking your hotel’s performance in the market. When it comes to group business, though, are you missing out on opportunities if you limit yourself to thinking of your meetings competitors as just the properties down the street? Are you differentiating between which hotels are simply comparable and which are actually competitive? Regarding selecting the right comp set, Hotel News Now says, “Comp sets often seem obvious, but it’s surprising how often a more relevant property is subjectively excluded or a less relevant hotel is included.” To be truly competitive, comp set hotels need to be viable substitutes in the mind of a planner or group. Here are 3 ways you can discover new group opportunities by thinking outside the traditional definition of “comp set.”

The Kahala Hotel & Resort - A Success Story

In The Know - Knowland Blog 15 June 2017
With limited time and floods on inbound RFPs to respond to, proactive group prospecting can be hard. However, it's critical that hotels sell proactively to keep up with increased competition resulting from new inventory coming into nearly every US market. Independent hotels often have to work harder to sell their property without the backing of a brand affiliation, but big data can make proactive selling easier, more efficient, and more effective. Kerry Kuhl, the National Sales Manager at The Kahala Hotel & Resort, demonstrates how she successfully generates new group business using group data and booking patterns to develop time-saving tactics and do a lot of the heavy lifting for her.

Growing Pains: Handling the pitfalls of record occupancy

In The Know - Knowland Blog 22 May 2017
After a dynamic year for hotel occupancy in 2015, demand spurred a rise in planned hotel construction in most major markets. 4,721 hotel projects were under contract in the US as of March 2017 -- a 14.4% increase over last year. 1,449 of those are in development, which is a 24.4% increase over 2016.

London Group Meeting Trends

In The Know - Knowland Blog 19 April 2017
London hotels are predicted to see mild growth over 2017, despite an active construction pipeline that will continue to feed thousands of new rooms into the market. With plenty of space to fill and a weak pound encouraging travel, London is uniquely positioned to pursue new MICE sector business. Many groups are, in fact, booking meetings and events in London for the first time -- including a big boom in business from the technology sector. A year-over-year look at MICE market trends highlights the drivers of hotel performance and which types of business are best to target as competition in the market increases.

Case Study: Find Solid Group Business in a Shifting Economy

In The Know - Knowland Blog 10 October 2016
Meet Al Luciano: A hospitality veteran with more than 30 years of experience. He has been a sales director at prominent properties in two of America’s biggest destination cities, San Antonio and Las Vegas, including San Antonio Marriott Rivercenter (1,500 rooms, 86 suites, 60,000 sq. ft. meeting space).

I never thought I'd say the words "Pokemon Go"

In The Know - Knowland Blog 18 July 2016
As a child of the 90’s, I get it: this obsession with chasing Charmanders using the Pokemon Go app. You’ve seen it, right? Trainers of all ages hunting for virtual Pokemon in the real world – walking all over town to “catch ‘em all.”

Turn 1.5 Hours into $100K

In The Know - Knowland Blog 29 June 2016
I recently had the pleasure of speaking to Michelle Sedlak, the Director of Sales and Marketing at the Holiday Inn Stevens Point Convention Center, about using Insight – Knowland’s meeting intelligence platform. She was frank. She was open. She was a breath of fresh air. Within a year, Michelle and her team booked more than $101,000 of group business through Knowland. I wanted to pick her brain on tips for success, so I gave her a call.

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