Salamanca-based Beonprice, a revenue management platform for hotels, has raised €2 million Series funding. The round was led by Adara Ventures and the CDTI via its Inniverte programme, and additionally the Travel Tech fund, KFund and IBH also participated. The fresh funds will be used to further develop its product offerings, increase the team size, and expand further into European and LATAM markets.
Having begun in 2012, Spanish startup Beonprice was founded by Emilio Galán and Rubén Sánchez. Their aim? To help hotels to make forecasts in a time of constant change and too much information. Beonprice is now active in more than 30 countries and has well-known hotels like Catalonia, Hotelatelier, Iberostar, RIU, Labranda Hotels & Resorts, HM Resorts, Park Royal, Dreamplace, Hospes and Room Mate, amongst its client base.
Beonprice’s Hotel Quality Index aims to improve revenue-per-available-room while increasing the number of occupied rooms at any given time. The company uses AI modelling to measure the integral quality of a hotel, determine its competitive position and generate maximised pricing due to demand
“Our goal is to lead the hospitality sector with the most complete RMS in the market thanks to a proprietary algorithm that combines the most accurate data in the market using Artificial Intelligence and Deep Learning. Thanks to this round and the renewal of confidence in our product despite the times the sector is going through, and in view of the imminent recovery, we intend to continue driving our international expansion and team reinforcement,” concludes CEO Rubén Sánchez.
To date, Beonprice has raised €6 million in different rounds, and also has offices in Madrid, Barcelona, Mexico City and Bogota.
