What is the definition of Fair Market Share in the hotel industry?
Fair Market Share is a suggestion that a hotel’s on the whole performance stacks up not in favor of its instant competitors.
A hotel within a spirited set can work out if it’s getting its Fair Market Share throughout a simple computation:
Fair Market Share = entire figure of rooms at the hotel / entire figure of rooms in the comp set
However large or small the comp set, a hotel trying to make itself extra competitive can use a Fair Market Share tool to contrast its entity percentage to their comp set.
During peak times, a hotel can gather important info about the presentation of the other hotels in their comp set. Then, using a Fair Market Share tool, it can find out how it compared to other hotels during those hectic times. This can help when planning ahead. There are more than a few ways to determine your fair market share.