The primary goal of any hotel owner and operator is to make as big a profit as possible. However, in today's dynamic marketplace, stiff competition and evolving hotel technologies, achieving such goals can be a very complex and daunting task. With CEG revenue generation consulting, we can help you by providing practical solutions borne from data and techniques in revenue generation strategies that we will create to maximize revenue for your hotel. Our team of revenue consultants will help you identify and implement revenue strategies to capitalize on opportunities, increasing revenue with complete insights into future and historical demand for your hotel and competitive set so that you can be proactive and not reactive. CEG will:

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• Analyze and evaluate relevant revenue history, looking specifically into historical demand trends and patterns as well as current market conditions to identify and maximize on current and future selling opportunities.
• Audit your rates and product line coverage to optimize inventory and price availability. Can developing different products enable us to target different types of clients with different needs? Can we sell more than one room type and/or create value differences between them in order to maximize revenue growth?
• Evaluate your clients’ needs - price sensitive clients, clients valuing experience and services, and what are the services they are ready to pay for
• Identify and allocate market segments and adjust your products through current and emerging distribution channels ensuring they reach the right customer at the right time and at the right price.
• Optimize the sales process through a variety of methods to drive incremental revenue to your hotel.
• Evaluate the value proposition of your hotel’s competition. Do you really know what you are up against? Is your product and service level better or inferior compared to your competitor hotels?
• Leverage current technologies such as social media and mobile computing to increase hotel visibility and  funnel more customers to your hotel

One of the most significant components needed to apply revenue optimization in hotels is market segmentation. It allows you to target a variety of consumer groups with different behaviors with an offer that matches their needs and budget level. Today, the need for market segmentation has become an even more prominent and complicated issue in the hospitality industry due to the rapid changes in customer needs as well as the vast amount of product offerings from all hotels.  In order to be as successful as possible in achieving optimal revenue growth, a well-designed market segmentation is a must. It will allow your hotel to price and apply inventory controls in order to maximize revenue from various lines of business. Market segmentation will also deliver a more profitable customer through focused product, pricing and distribution as well as ensure proper reporting and tracking. When you sign up for our market segmentation services, CEG will work closely with you to conduct a market segment analysis to ensure that your hotel has the right percentage of low- and high-rated segments that will help you significantly maximize revenue and increase profitability. Our analysis will provide you with an action plan and answer any questions you might have, including:

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• What segmentation best fits my market and my property?
• Can we break segments into sub-segments, track their performance and make meaningful distinctions between them? For example, two segments might be “Individual” and “Group” guests. These can be further broken down into leisure and business on the individual side and/or meetings and conventions on the group side.
• Can our market segmentation help you identify the trends of our business such as Length of Stay, Day of Weeks stays, Total Revenue per room, Total Revenue per client, Lead Time, Cancellations, No Show ratio. etc...
• Can we challenge our market segmentation? Should we introduce pricing points? Recognize non yieldable segments?
• Can we identify today trends per market segments? Lead time information per days of the week and segments? Cancellation ratio per day of the week? Total revenue per client and per market segment?
• Can you move some of your non-yieldable segments to yieldable?
• Can we review the production of our main clients on basis of their revenue gain? What is their true revenue gain? Can we revise our pricing accordingly?

Achieving optimal delivery from a variety of revenue channels is part of the centerpiece of a successful hotel's revenue strategy. Given the rapidly changing nature of the distribution environment with the emergence of new distribution opportunities along the large number of already-existing distribution channels, learning how to optimize your distribution channels and capitalize on each opportunity is essential to the amount of business you can earn. CEG Global Solutions can help your hotel solidify its market position, establish optimal channel mix and increase higher overall visibility. Our team of channel distribution optimization experts will work closely with you to provide a strategic distribution plan with specific adjustments and improvement recommendations to ensure optimal delivery from all of your revenue channels. These will cover:

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• Distribution channels on which you should be present
• Channel rate strategies and room description strategies in your primary distribution channels.
• Channel rates and the product line coverage audit for your hotel.
• Your competitor rate strategies on the same distribution channels.
• Existing or emerging distribution channels that have distribution strength for your hotel.
• Future channel rate monitoring to ensure most profitable channel rate structure is always in use.
• A matrix of optimal channel mix to ensure optimal revenue delivery.
• ReVinnx reporting tools assess and monitor progress.

The revenue your hotel receive is determined by the number of paying customers you have and the price you can charge for rooms and other products and services that your hotel may offer. To maximize revenue, a hotelier must pay careful attention to market conditions. You must know and understand your competitors and your customers before adjusting your room rates. However, adjusting your rates without hurting occupancy is not an exact science - It requires experience and expertise. For example, at some price point, you will maximize revenue, but if you charge too high of a price, you will not make as many sales. On the other hand, setting a low price may generate more sales, but it will also result in lower revenue per sale. Then you find yourself in a huge and intricate dilemma. This is where we come in with our pricing and positioning consulting services. CEG will complete an asset pricing and positioning analysis and build a strategic plan so that your hotels and services are priced and positioned correctly against all your competitors. Our strategic plan will help you answer and understand:

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• How you can differentiate your hotel in terms of pricing and value. Is your product and service level better or inferior compared to your competitor hotels?

• Your competitors' rates in terms of prices, products, level of service, location, and distribution channels in order to anticipate their strategies. How will their selling strategies by segments evolve? How will that impact the demand to come to your hotel?

• How do clients compare your hotel to the other hotels?

• How to anticipate the rate strategies of your competitors. What will be their rate positioning in the coming year, per periods?  How will that affect the demand to come to your hotel?

• If your positioning against your competitors make sense. How often are you more or less expensive than your competitors?  Do you take into account your positioning and value offer when deciding your daily rates?