Travel tech firm from Spain Beonprice raises €2.5M, plans to open base in UK

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Beonprice is one of the most innovative B2B hospitality travel tech solution provider in Europe. The company uses its patented Artificial Intelligence technology to let hotels maximise their revenue by finding the best rate depending on the combination of customer demand and market supply. The startup offers a cloud-based revenue management solution for hotels depending on AI. This way, it optimises price and distribution depending on buying habits and customer intent.

Founded in 2012 by Rubén Sánchez and Emilio Galán, Beonprice works with more than 2000 properties spread across 30 countries. Headquartered in Salamanca, the company has opened offices in Madrid, Barcelona, Mexico, and Bogotá.

Raises €2.5M funding

Beonprice raised the closure of €2.5 million series A funding led by venture capital fund Adara Ventures. With this investment, the company aims to enhance the product team, strengthen its leadership in Latin and American among other regions in Europe.

“The investment led by Adara will allow us to continue developing our technology and seek new ways to offer innovative solutions to our customers, the hotel chains, and remain ahead of our competitors”, he adds Emilio Galán, co-founder and CTO of Beonprice. Also, the travel tech startup from Spain aims to open its base in UK.

Improved revenue management tools

Beonprice expects the next set of customers to be doubled in the coming years. With these revenue management tools, the company can improve distribution and booking productivity and manage complex rate calculations.

There are predictions that only 16% of hotels make use of a Revenue Management System. Having said that, Beonprice enables hoteliers to consider daily pain points against HQI (Hotel Quality Index) to hoteliers to consider over data points. This will eventually develop RevPAR and their occupants and adjust the rates.

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Wide range of clientele

Beonprice has over 2,000 clients in over 30 countries; Its RMS is used successfully by growing hotel chains such as Hotelatelier, HM Resorts, Iberostar, RIU, Paradores, Dreamplace, Hospes, Palafox, Grupo Velas, Viaggio and many more.

Main image picture credits: Beonprice

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The editorial team of Silicon Canals brings you technology news from the European startup ecosystem. 

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