How to Use Comp Sets for Benchmarking

How to Use Comp Sets for Benchmarking

Use a Comp Set to measure how your listings perform against a tailored market. Below are three PriceLabs tools that let you apply Comp Sets in different, complementary ways — each section focuses on what matters and how it helps.

Dynamic Pricing: Neighborhood Data

What it does :

  • Lets you compare a listing’s Future Prices and Occupancy graphs against a Market Dashboard CompSet, instead of Nearly Listings, so you can spot pricing gaps and demand differences before they book. This way, you get to see where your listing's prices and CompSet stand compared to listing that are specifically chosen by you, not just those with similar bedroom categories in the neighborhood.
  • Enables side-by-side, date-level visibility of competitors’ listed price, minimum-stay rules, and availability when you add Comp Set listings to the Competitor Calendar — critical for tactical, nightly price decisions.

How to Add Comp Sets to Neighborhood Data

  1. Head over to your Pricing Dashboard → Review Prices on the listing.
  2. Click the Neighborhood Data Tab.
  3. Click the Gear Icon on the upper right of the tab and select Market Dashboard in the first dropdown.
  4. You can then select which Market Dashboard and Comp Set to apply.
  5. Click Apply.

Portfolio Analytics: Pacing Reports

What it does:

  • Benchmarks portfolio-level KPIs (Listed Price, Occupancy, ADR, RevPAR) against the Market Dashboard CompSet average — perfect for multi-listing managers.
  • Booking Curves let you compare how those metrics have evolved over time for any stay month vs. the market average — great for forecasting and strategy validation.

How to Add Comp Sets to Portfolio Analytics: Pacing Reports

  1. Head over to your Portfolio Analytics → Pacing Report
  2. Apply your preferred filter as usual
  3. Right above the first graph, you can select the Market Dashboard and Comp Set on their corresponding dropdown.
  4. Click Update Chart


Portfolio Analytics: Report Builder

What it does (important):

  • Lets you build downloadable Excel reports where market metrics are driven by the Comp Set you choose.
  • Two options for market calculation:
    • Default Averaging: automatically averages market data from listings selected in Neighborhood Data.
    • Custom CompSet: explicitly define the market at group, subgroup, bedroom category, or city level for consistent comparisons.

How to Add Comp Sets to Portfolio Analytics: Report Builder

The two different option for market calculation has different steps:
  1. Default Averaging
    1. Follow the same steps as How to Add Comp Sets to Neighborhood Data above.
  2. Custom CompSet
    1. Head over to your Portfolio Analytics → Report Builder
    2. Click Define Source for Market Values
    3. Select your preferred level (group, subgroup, bedroom category, or city)
    4. On the Mapped Dataset dropdown, select your preferred Market Dashboard for the corresponding group, subgroup, bedroom category, or city
    5. Under Market Dashboard Compset, select the comp set.
    6. Click Save Changes.

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