Frequently Asked Questions
What is Lybra.Tech?
Lybra.Tech is a Revenue Management Assistant for the hotel industry. Our Revenue Assistant uses AI algorithms on Big Data to measure the demand & perception of value of the demand, in order to apply the most optimal price to the demand (optimal performance) in real-time. Optimal performance of revenue is not the same as increase in revenue.
Increase in revenue is a positive change versus a period of time. Optimal performance of revenue is ensuring that the revenue is at it’s best at any given point of time in any given market, competition and reservation situation.
The application of AI on Big Data for optimal performance allows you to:
Save time & cost
Work efficiently Focus on strategy Lybra.Tech is a cloud based SAAS type user interface, which is accessible through your browser from any device.
Can I trust Artificial Intelligence?
Today AI is present in most industries. To give you a perspective:
No one programmed your preference into the Amazon recommendation system. The learning algorithm figured them out.
Facebook doesn’t know how to write a program that will choose the best updates to show to each of its user. The learning algorithm figured them out.
It’s only when Netflix has a learning algorithm to figure out our personal tastes and recommends movies, that make the user excited and so they continue with the monthly payments.
Today AI is also in Revenue Management to give you a perspective: Lybra is the only AI that takes into consideration ALL big data: market, competition and hotel. Lybra is analysing the demand and reservations pick-up, in order to adapt the price Lybra is working 1000 times faster than any human. Taking care of all the hard work, to save you time for strategic actions.
Who should use Lybra.Tech?
Considering that: 79% of hotel properties have a dedicated person responsible for pricing. Only 41% of these people are called revenue managers. 80% of their time they spend on analysing the market & hotel revenue performance. Only 28% of them action prices every day for the next 20 days ahead. Only 4% action prices every day for beyond 20 days ahead. Lybra.Tech is designed to automate all analysis that today is performed manually, saving more than 80% of daily time. Lybra.Tech is also designed to change prices automatically, allowing time for the person responsible for prices for more creative & strategic thinking. Lybra.Tech is for people responsible for pricing.
Where is Lybra.Tech collecting all the Big Data?
The external sources for market demand, price competition, sales promotions, reputation, ranking, events are being picked up directly by Lybra.Tech technology
We do not use third party data providers. We own our data. The internal sources for revenue performance and reservations behaviour we collect directly from the PMS. We only pick the data that we need. Not more. We do not pick any personal data.
How does the installation / connection of Lybra.Tech work?
We need details of your hotel:
• Number of rooms
• Number of room types
• Yearly average ADR
• Name & version of your PMS
• Name & version of your Channel Manager
After setting up your property within Lybra.Tech, we will need to connect Lybra.Tech to your PMS:
• Every PMS connection may be different
• We suggest to contact us directly for the best explanation
Some PMS’s may impose a fee for the hotel:
• One time setup fee
• Maintenance fee
• Interface development fee
We suggest to contact us directly for the best explanation.
What is Artificial Intelligence?
Traditional computers and systems are based on deterministic calculations. To get the result as an output, you need to have the data input and an algorithm determined by rules, to get the output. [e.g. If my OCC>80%, then apply price B2]
AI is not much about calculations, it’s more about creating algorithms that can calculate.
AI turns traditional calculations around: Big Data and the desired result (optimum revenue) is the input and the created algorithm, turning data into a result, is the output.
The goal of AI is to teach computers to do what humans currently do, but better and much much faster. AI involves Machine Learning which shapes the way algorithms calculate according to Big Data (demand) In effect, knowledge is produced.
Who can have access to Lybra.Tech?
Lybra.Tech is available for anyone working at the hotel property, wishing to enhance their revenue performance. There are no restrictions in terms of types of hotel properties that can use Lybra.Tech . We support a wide range of properties: from international hotel chains, through individual hotels, small chains, resorts, to apartments & vacation rentals. All users of Lybra.Tech need to be registered, set up and assigned with login credentials. In order to register please follow this link: https://www.lybra.tech/book-demo
How Lybra.Tech helps people responsible for pricing?
The idea behind the assistant is to:
• make all data grabbing & crunching EASIER
• use Machine Learning to asses demand and calculate optimal price in REAL TIME
• help you focus on the strategic and important situations that make your revenue GRO
Lybra.Tech provides the property with Big Data:
• Market (demand, events, ranking)
• Competition (prices, sales tactics)
• Perception of value (product proposition, reputation evaluation on price)
• Revenue Performance (all historical revenue & reservation data)
• Booking behaviour (booking windows, pick-ups & paces)
Then, Lybra.Tech processes Big Data:
• Trend analysis
• Behaviour comparison
• Correlation between every data factor
To apply Artificial Intelligence algorithms, to:
• Forecast unconstrained demand for the property
• Calculate optimal price per room type. And these calculations happen in real-time* *Please note: the definition of real-time means that all data (internal & external), the forecast and price optimisation are real-time every time you are logged in to Lybra.
What PMS’s do you already work with?
Our technical team is constantly connecting new PMS’s. So far we have managed to establish connection with the following ones:
Hotel 5 Stelle
Do I need to be an expert to use Lybra.Tech?
If you are already responsible for pricing, you probably already are an expert. But…
All complex calculations, data combing & cleaning is being done by Lybra.Tech Artificial Intelligence.
The results are presented on the Lybra.Tech UI, which is designed to be intuitive and easy to read & action.
All the details behind the results are also presented, so that:
• Those who like business analysis can find their data,
• Those who like to calculate forecasts & optimisations themselves can find their data,
• Those who only want to monitor critical situations can find alerts that do that
• Those who do not have time to manage data or price setting can totally rely on Lybra.Tech Lybra.Tech work is equivalent to 1000s of revenue managers. But it can be used by one novice.
So no, you do not need to be an expert to use Lybra.Tech
How Do I Get Started?
Free 20 Min Chat
Contact us for a quote or Book a Demo
Where we are:
ROME | ATHEN | BARCELONA | WARSAW | MANCHESTER | ST. PETERSBURG | LISBON
Lybra.Tech Srl P.I. & C.F:13739211004 Via Marsala 29h – Rome, Italy Phone: +39 06 5655 6932 email: email@example.com