The Hotel Group: Over 30 Years of Experience in Latin America and Europe
Key 33 is a Latin American hotel and rental real estate operating company with more than 30 years of experience in hotel operation and marketing in Europe and Latin America. They have proven experience in management, marketing, and franchising models.
Hotel Cabrera Imperial by Key 33 is located in Bogotá, Colombia, and is known for its elegant architecture and warm, empathetic atmosphere.
Meanwhile, Hotel Sabana Park is located in Cajicá, Colombia, and offers a peaceful and comfortable stay with modern and appropriate spaces.
The Challenge: Unlocking Sustainable Profitability
When BEONx’ sales team approached them, Key 33 was facing challenges in optimizing revenue management across their hotels in Colombia. They wanted to gain a better understanding of their guests’ behavior and preferences, improve their pricing strategies, and identify areas where they could improve their sustainability practices to meet the needs and expectations of their guests.
According to Lukas Cortes, Revenue Manager at Key 33, the main challenge they faced was optimizing their pricing strategy to better compete in the market. They also recognized that inventory allocation was vital for their success.
The Solution: BEONx’s revolutionary Revenue Management System
Key 33 decided to implement BEONx’s revenue management system, which aims to make revenue management simpler, streamlined, and more powerful for their hotels. BEONx uses AI technology to assess vast and complex data sets, offering innovative new solutions that integrate revenue streams and form a clear link between ESG principles and value creation. The system empowers hotels to unlock new perspectives on revenue management and sustainable profits.
“Having the experts from BEONx on board has been crucial for us. They are always available to help us solve technical issues, but beyond that, they are constantly proposing ideas and discussing recommendations to improve our strategies. Joaquin, our revenue manager, has been an incredible asset and his academy has helped me improve my role as a hotel revenue manager on a daily basis. I am very grateful for his expertise and support.” – Lukas Cortes, Revenue Manager at Key33.
By implementing BEONx’s revenue management system, Key 33 was able to gain access to AI-powered algorithms that provided them with forecasts up to three months in advance, making their displacement calculation much more effective. Additionally, the system’s user-friendly interface made it easy for Key 33 to make decisions quickly, which was a fundamental part of their revenue management strategy.
The Results: Personalized Guest Experiences and significant increases in revenue.
By implementing BEONx’s revenue management system, Key 33 was able to unlock sustainable profitability for Cabrera Imperial and Sabana Park hotels. Leveraging BEONx’s AI technology, they gained a better understanding of their guests’ behavior and preferences, enabling them to offer more personalized services. They were also able to optimize their pricing strategies, resulting in significant increases in revenue.
As Lukas points out, BEONx’s revenue management system has proven to be effective in optimizing Key 33’s KPIs, as the recommendations given by the system are well constructed. Even in times of low demand, the tool has brought out its greatest potential by leveraging internal data such as segmentation, budgets, and forecasts to develop a strategy for success or crisis management in KPIs. BEONx’s comprehensive approach has provided Key 33 with the necessary tools to make the most of their revenue management strategy and stay ahead of the curve in an ever-changing market.
Additionally, they identified areas where they could improve their sustainability practices, which was important to their guests, and made more informed decisions in this regard. As a result, their guest satisfaction and loyalty increased, reflecting in their financial results.
“I can confidently say that the implementation of BEONx has been a game-changer for us. It has enabled us to optimize our pricing strategies, resulting in significant revenue growth, while also allowing us to prioritize sustainability practices which are increasingly important to our guests.” – Lukas Cortes, Revenue Manager at Key33.
In conclusion, the implementation of BEONx’s revenue management system has allowed Key 33 to optimize their pricing strategy, improve their sustainability practices, and ultimately unlock sustainable profitability for their hotels. By leveraging AI technology and data analysis, they have been able to make better decisions, leading to significant increases in revenue and guest satisfaction. This success story demonstrates the value of innovative revenue management systems and their potential to drive business growth in the hospitality industry.