Beonprice, the Spanish traveltech startup, has raised a €2.5 million Series A to expand its B2B hospitality revenue platform across Europe. The round was led by Adara Ventures.

“Our aim is to lead and transform the revenue management strategy in the hospitality sector with artificial intelligence technology,” said Rubén Sánchez, co-founder and CEO of Beonprice.

In a market where only 16 percent of hotels use a Revenue Management System (RMS), Beonprice provides multiple services in one: revenue management insights, a training academy, and algorithms that react to market demand for dynamic rate setting. Specifically, the Spanish startup enables hoteliers to improve key hospitality metrics, such as RevPAR (revenue per available room) and occupancy rates.

“Our patented artificial intelligence technology helps hotels maximise their revenue by finding the best rate based on a combination of ever-evolving consumer demand and market supply,” explains Emilio Galán, co-founder and CTO.

Founded in 2012, the startup expects its customer base to more than double in the next three years. The platform currently serves over 2,000 properties in more than 30 countries, including international hotel brands such as Paradores, Catalonia, Hotelatelier, Iberostar, RIU, HM Resorts, Park Royal, Dreamplace, Hospes and Grupo Velas.

With headquarters in Salamanca, and other offices in Madrid, Barcelona, Mexico City and Bogotá, Beonprice will put the new funding toward product development, consolidation of key markets (Spain and Latin America), and European expansion.

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