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BEONx secures NextGenerationEU funding for Digital Transformation

BEONx secures NextGenerationEU funding for Digital Transformation

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Foiyer - Hotel Pricing Strategies - Explained - Hotel Pricing Strategy & Revenue Management - BEONx

 

BEONx, a leading travel technology company committed to revolutionising revenue management strategies and achieving profitability for hotels, announces it has secured NextGenerationEU funding via a grant from SEGITTUR, a body under the Ministry of Industry, Trade, and Tourism responsible for driving innovation in the Spanish tourism sector, to drive digitalization in the sector.

The Recovery, Transformation, and Resilience Plan of SEGITTUR seeks to digitally transform the tourism industry. The aid granted to BEONx in this instance is known as “Last Mile” or “Última Milla”, and its purpose is to promote the digitalization of small and medium-sized tourism companies.

Emilio Galán and Rubén Sanchez at their Madrid office.

BEONx has been awarded a significant financial support for its groundbreaking initiative aimed at tackling the challenges faced by the hotel industry in an era of unprecedented uncertainty and transformative changes. The global project, valued at 4,800,000€, represents a collaborative effort with BEONx holding a 70% stake, while other prominent companies in the tourism sector, including VP Hotels, DynamEat, Bioscore, Barceló, Fideltour, Hospes Hoteles, The Hotels Network, Ladorian, and Masteryield, collectively own the remaining 30%.

This strategic partnership of industry leaders marks a significant milestone in the pursuit of optimising hotel management and maximising profitability in the face of evolving market dynamics. The joint endeavour will result in the development of an innovative technological platform designed to revolutionise the way hotels operate.

The project seeks to create a technological platform to enhance hotel management and profitability. It comprises four key elements: a marketplace of certified applications for profitability management, a real-time communication platform among these applications, an artificial intelligence engine coordinating their actions, and a hotel sustainability index.

The proposed platform is innovative in integrating all the applications needed to maximise hotel profitability, using artificial intelligence to connect them and make data-driven decisions. It also highlights the focus on total profitability, the certification of application impact, the standardisation of connectivity, and the use of an artificial intelligence engine for coordination.

The project solves problems in the hospitality industry related to the lack of optimisation of revenue opportunities, decision-making based on insufficient data, and inefficiency in the use of contracted technologies. The platform seeks to address these inefficiencies by integrating all hotel services into a single tool and facilitating decision-making based on intelligently processed data.

Rubén Sánchez, CEO and Cofounder at BEONx, stated: “BEONx and SEGITTUR are leading a digital revolution in the tourism industry. With the support of leading companies, we’re developing an innovative platform that optimises hotel management, maximises profitability, and promotes sustainability. By integrating certified applications and leveraging artificial intelligence, we are reshaping the industry based on data-driven decisions. We are thrilled to launch this initiative, which represents a major step forward in the digital transformation of the tourism industry.”

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