HOSPITALITY MUST “ABANDON DEPENDENCE ON REVPAR AND OCCUPANCY METRICS” TO THRIVE
- Alex Barros sets out on a mission to lead the hospitality industry to shift to ‘total profitability’ metric that explores all revenue streams and a holistic revenue journey to deliver ‘sustainable profitability’ opportunities.
- To reflect this new mission Beonprice will become ‘BEONx’ alongside a new visual identity as it celebrates 10 years, guiding the way to the future of hospitality.
- BEONx’s proprietary ‘Total Profitability Platform’ runs on an artificial intelligence and machine-learning tech (TPP) – to help hotels deliver exponential profits and offer a data exchange to take hoteliers to the future.
24th November, 2022, Madrid: Today Beonprice – one of the world’s leading hotel revenue management providers – has set out on a mission to persuade the hospitality industry to “abandon the dependence on RevPAR and occupancy rates metrics” and adopt “total sustainable profitability” opportunities to thrive in a post-COVID world.
To replace RevPAR and occupancy rates the hospitality industry should shift to a ‘total profit’ or ‘revenue-per-available-guest’ (RevPAG) concept that looks at the full lifecycle of the traveller journey and explores new non-room revenue streams.
This could include co-working spaces, enhanced digital services or subscriptions, selling of in-destination activities, and use of retail spaces – on top of enhancing room service, boosting restaurant use, expanding bars / night club spaces, providing spa & wellness experiences, and activities beyond the hotel property within the destination.
At the same time hospitality companies should explore sustainability as a driver of profitability, matching the desires, needs, demands and opportunities presented by environmentally conscious travellers.
This involves no longer viewing such changes and services as a cost-base but rather a generator of revenues for guests willing to pay a premium for zero-mile food, sustainably sourced products and properties powered by renewable energy. Additionally, guests are also keen to engage in sustainable initiatives throughout the guest journey, including pre-arrival and off-the-property in destination.
To reflect this new mission and the evolution of the company and its 10th anniversary celebration, Beonprice has evolved its brand to become ‘BEONx’ and create a new visual identity that will be accompanied by a new website – all reflecting the focus on sustainable profitability, something the founders and team are firmly invested in.
In order to drive this revolution in how hotels manage revenues BEONx is evolving to a proprietary ‘Total Profitability Platform’ that runs on an artificial intelligence and machine-learning tech (TPP) and uses automation techniques.
Alex Barros Chief Marketing and Innovation Officer from BEONx comments: “As an industry we really must abandon the dependence on RevPAR and occupancy rates metrics in order to thrive – the future of hospitality is about so much more than rooms.
“Instead we should focus on building a path to total profitability and empower hotels to unlock totally new non-room revenue streams – co-working spaces, bars that draw people in, events, spa & wellness products, retail outlets and so much more – we will help hotels to unlock sustainable profitability opportunities.
Rubén Sanchez and Emílio Galan, Founders and CEO & CTO respectively of BEONx, add: “To make unlocking sustainable profitability opportunities our mission we have decided to rebrand as BEONx and launched our ‘Total Profitability Platform’. This coincides with our 10th anniversary and we want to thank all our staff for their hard work and customers for their loyalty over the last ten years – and say how very excited we are about the next ten as we seek to redefine hospitality from within. Watch this space.”
Since it was created in 2012 BEONx has grown to become one of the world’s leading revenue management providers to the hospitality sector with over 2,000 customers in more than 30 countries.
Leading international hotel brands working with BEONx include Leading Hotels of the World, Barcelo, Catalonia Hotels, Iberostar, RIU, Labranda Hotels & Resorts, HM Resorts, Holiday Club Resorts, Dreamplace, Hospes, Room Mate and many others.
BEONx is a leading Travel Tech company committed to leadership the future
of revenue strategy and building the Path to total profitability to hotels. Its approach towards Total Profit Platform comes in response to the hospitality industry’s need for more sophisticated revenue management tools to move towards the concept of total profit.
Total Profit Platform includes BEONx’s revenue management solution (RMS),
as well as a selected set of partner applications, allowing hotels to analyse and
optimise, in addition to room revenue, the revenue from all guest touch points
during their stay, such as parking, rooms, restaurant or spa.
BEONx’s revenue management system (RMS) optimises pricing and
distribution based on consumer expectations and buying habits thanks to the Hotel Quality Index HQI™, the only index in the hotel market that measures the hotel’s overall quality, and a double segmentation: by channel and by market.
The company has more than 2,000 customers in more than 30 countries, including international hotel brands such as Catalonia, Iberostar, RIU, Labranda
Hotels & Resorts, HM Resorts, Holiday Club Resorts, Dreamplace, Hospes and
Room Mate, among others.
Managing Director, Belvera Partners