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Beonprice, a company that applies big data to the hotel industry, closes a €1.4M round


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BY : Diego GutiérrezJune Mon, 2017
The venture capital fund 'K Fund' is betting on the algorithm developed by this company to maximise hotels' profits, based on their competition and customer segmentation.
About Beonprice.

The company, founded in 2012 and based in the Salamanca technology park, specialises in the hotel sector and applies big data techniques to provide information on room availability, demand, competitor prices, disparities and other valid elements to determine the most advantageous price for hotel accommodation.

BEONPRICE currently serves more than 1,500 hotels including major international hotel chains such as Room Mate Hotels, NH Hotels, Petit Palace Hotels, Iberostars Hotels & Resorts, Palladium Hotel Group, and Grupo Posadas, among others) and has sales offices in Spain, Mexico, Colombia and the United States.

What has Beonprice received €1.4M for?

Beonprice will use the resources to invest in the evolution of the product, boosting the algorithm capable of increasing the hotel's revenue thanks to competitive positioning and price elasticity in the market. To this end, the technology platform has developed the Beonprice Quality Index (BQI), an index that measures the overall quality of a hotel: it takes into account more than 21 parameters.

In addition, Beonprice intends to boost its international expansion with the forthcoming opening of sales offices in the UK and Germany, as well as the East Coast of the United States (New York) during 2017, where major international hotel chains are headquartered.

Big data in the hotel sector

Big data is revolutionising a wide variety of sectors and the hotel sector is not left out. We have spotted a number of startups that are revolutionising hotel services by introducing big data. Some companies have received large amounts of funding, such as Airbnb, which has received $3.4B and has bought 14 companies. This marketplace allows you to discover and rent holiday homes that best suit your characteristics.

In Spain, there are several companies that are applying big data to the hotel sector, such as Mirai  which works to boost the direct channel of hotels, or Wanup, the first global hotel loyalty club, the most complete and innovative in the Spanish market.

Beonprice, a company that applies big data to the hotel industry, closes a €1.4M round

 

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