BEONx, the leading travel technology platform dedicated to revolutionising revenue strategy and achieving sustainable profitability for hotels, has collaborated with the Universidad Rey Juan Carlos in a research study that analyses the impact of dynamic pricing on hotel performance, providing empirical evidence of its benefits.
The study entitled “Impact of Open Pricing on Hotel Performance” is based on the doctoral thesis of Hend Farahat Issa Farag, directed by Pilar Talón Ballestero and Lydia González Serrano. It analyses data from three independent hotels that implemented the BEONx solution and compares it with data from competitors, collected by STR, a provider of market analysis and information for the hospitality industry, during three periods: one year prior to implementation and two years after, as well as with data from the National Institute of Statistics (INE).
The results revealed that the implementation of open pricing improved occupancy rate, average daily rate and revenue per available room in the analysed hotels, which concludes with the justification of the use of open pricing in revenue management systems of independent hotels and outperformed the competition in the periods studied. In addition, the research work also opens up lines of future research to analyse the impact of BEONx on online reputation and customer satisfaction.
“We are delighted to have collaborated on this study, which demonstrates the positive impact of our platform on hotel performance. Furthermore, this study opens up future research lines to also analyse the impact of BEONx on online reputation and thus on customer satisfaction,” says Emilio Galán, CTO and co-founder of BEONx. “As a leading revenue management solutions company, we are committed to researching and developing new tools that enable hotels to improve their performance and deliver an exceptional customer experience.
The collaboration between BEONx and the Universidad Rey Juan Carlos demonstrates the commitment of both entities to innovation and continuous improvement in the hospitality industry, and underlines the importance of collaboration between companies and universities to advance research and development of effective and sustainable business solutions.