Grupo Piñero receives award for best innovation in Artificial Intelligence and Data Analytics at the Tourism Innovation Summit

• The Group has been recognized for its hotel demand forecasting project, which uses AI to predict the occupancy of its hotels 

• The incorporation of this technology opens a new stage in terms of the Group's information management, allowing for improved customer experience, increased profitability of its hotels and the sustainability of its spaces.  

Palma, October 23, 2023. - The international tourism company Grupo Piñero was honored at the awards ceremony held as part of the 2023 Tourism Innovation Summit for its hotel demand forecasting project. The project, which received the award for the best innovation in Artificial Intelligence and data analytics, incorporates the use of AI, specifically Machine Learning, to predict demand at the Group's hotels more frequently, in greater detail and with greater anticipation. 

The fourth Tourism Innovation Summit awards gala took place this past Thursday, October 19, at the Hotel Alfonso XIII in Seville. The event recognizes those innovation projects created to improve the user experience by integrating new business models or using advanced technology to drive a change in the current tourism landscape. 

On receiving the award, Mateo Ramón, Chief Information Officer of Grupo Piñero, expressed his gratitude to the organization of the Tourism Innovation Summit, stressing that “at Grupo Piñero we are committed to innovating with the aim of constantly improving our business. This project is a watershed in our ability to understand and predict the demand of our hotels, helping our commercial team to improve their strategy and setting the first step to the prediction of other metrics not considered until now.” 

AI as a key tool in Grupo Piñero's evolution 

The award-winning project was developed by Grupo Piñero's IT division together with Logicalis, an international IT solutions provider, as well as with the Revenue Management team of Bahia Principe Hotels & Resorts, with whom the decision was made to incorporate Artificial Intelligence into their internal processes in order to improve their hotel occupancy projections and, therefore, make their business strategy more efficient. 

Microsoft technology was incorporated into its implementation to build a model based on Machine Learning, which learns from past predictions to improve future ones. Moreover, using a neural network algorithm, Grupo Piñero is able to provide the extracted data to each hotel 90 days in advance. By automating these processes, Grupo Piñero's team can spend less time building forecasts and more time analyzing data for more effective decision making. 

Through responsive and detailed forecasting, the project manages to improve the customer experience by enabling hotels to adequately prepare their facilities according to demand. Grupo Piñero has also improved its revenues and profitability by adapting operating costs and refining its pricing strategy, maximizing revenue per room.  

The incorporation of Artificial Intelligence also provides sustainable advantages, as the hotel demand prediction project has generated a reduction in both the carbon footprint and food waste in hotels, allowing the Group to anticipate consumption demand and adapt its contracts and agreements with suppliers accordingly. 

The recognition of this project at the Tourism Innovation Summit awards demonstrates Grupo Piñero's ambition in incorporating cutting-edge technologies in its multiple divisions, following a roadmap marked by innovation and digitalization of its business and putting the client, the employee and sustainability at the center of all its processes.