Revenue management, answered

What is the right comp set for a property, and should I edit the existing one or build a new one?

Your comp set should be 8 to 15 properties that match your subject on bedroom count, location radius, quality tier, and amenity profile. When a comp set is structurally wrong, rebuild it rather than patch it. Editing makes sense only for minor drift or seasonal substitutions.

By Jack Murphy, Head of Revenue Management at UpRev. Running pricing for US vacation rental managers since 2017.

How to Define the Right Comp Set

Start with bedroom count and drive-time radius, then filter by quality tier using review scores and listing presentation. Amenity alignment matters most for properties with differentiators like a pool, hot tub, or pet policy, since those features pull from a distinct demand pool. A comp set built on geography alone will give you misleading rate signals and compress your pricing range unnecessarily.

When to Rebuild vs. When to Edit

Rebuild when the existing set was built on the wrong criteria, when occupancy or rate benchmarks consistently diverge from what you see in market, or when a property has been repositioned after a renovation or re-tier. Edit when a single comp has closed, changed ownership and dropped in quality, or when you need to swap in a better seasonal substitute. Patching a fundamentally misaligned set wastes time and quietly distorts every pricing decision downstream.

Maintaining Comp Sets Across a Portfolio

Review every comp set at least once per quarter and always before a peak season. Flag any comp that has accumulated a significant drop in review score or has shifted its availability pattern, since both change how it behaves as a pricing signal. Standardize your comp set criteria by property tier across your portfolio so your team applies consistent logic and clients get defensible, comparable benchmarks.