Wheelhouse Personalized Pricing

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Dave AmbroseHunter@daveambrose · Steadfast Venture Capital
Wheelhouse helps short term rental hosts and property managers earn from their unit, all driven by a delightful set of pricing and revenue management tools. The team is releasing a new iteration of the product today called "Personalized Pricing" which is yielding as much as 40% more rental income. Also, I've never seen a demo video like the one @andrewkitchell did above (spare a few minutes to watch) as it's well done. I'm curious, @andrewkitchell, what made you and team build Personalized Pricing in the first place?
Kelly O'Conor@koconor · @koconor
What regional markets is this currently available for?
Michael QuinnMaker@mpq2 · Wheelhouse Software
@koconor Hi Kelly, we are currently live on six continents, covering most major metropolitan areas; you can find a coverage map at the bottom of our home page: https://www.usewheelhouse.com/. is there a particular market you were interested in? Cheers!
andrewkitchellMaker@andrewkitchell · Co-founder
@daveambrose “Personalized Pricing” is a response to customers who wanted control over their pricing strategy. We work with everyone from part-time hosts and hobbyists to professionals with dozens, or even hundreds, of properties, and these individuals all have different goals. Our first generation pricing engine was all about using best-in-class data science to build a powerful algorithm that could understand local demand in markets across the globe. This newest version of our pricing engine lets you tailor that powerful data science to suit your needs, from inputting how our models treat last-minute discounts to setting custom weekend rates. Basically, you now have the settings and controls to have our model build unique, personalized pricing strategies that best serve your business. We feel this sort of pricing & business intelligence for hosts and owners is essential, as our space continues to be the fastest-growing, most diverse, and most interesting segment of travel. :)
Kam Bain ✍@kam_bain · Founder @Craaave, Growth @BeyondPricing
@daveambrose @andrewkitchell This just isn't true... It's misleading and incorrect. Everbooked and Beyond Pricing both support last-minute discounts, long-term pricing, min night stays, and more. Please explain. https://www.usewheelhouse.com/pe...
Paul Horne@paulhorne · Writer
@kam_bain @andrewkitchell I had the same question -- putting a comparison chart on your website with incorrect or misleading info on the competition can undermine your credibility.
Conrad O'Connell@conradoconnell · Consultant, 91 Digital
Very interesting -- there are not a lot of products that solve this need and after playing with the tool for a bit I can tell the team has done a great job of putting this together. Working with professionally managed VRMs on a daily basis, most set prices based on last year's data & guesses - not very much data-driven decision making. This is a great tool to change that & make more from each short-term rental property.
Michael QuinnMaker@mpq2 · Wheelhouse Software
@conradoconnell Thanks for the note, Conrad. Capturing the true demand in your local market is very challenging. There are so many factors that influence and they are changing from season to season, week to week, and really, day to day. That's why our engine processes billions of real-time data points every day to capture true demand in your market.
Greg Schechter@greg_schechter · Web Warrior
Wheelhouse rocks! They've really helped me with my pricing needs for the properties I have on Airbnb and Tripadvisor. The customer service is very attentive. They're constantly improving the site and adding new features all the time. I've used some of their competitors in the space, but Wheelhouse has provided me with the best revenue and occupancy results.
Michael QuinnMaker@mpq2 · Wheelhouse Software
@greg_schechter Thanks, Greg. Which features have been most useful? Anything you'd like to see?
Greg Schechter@greg_schechter · Web Warrior
@mpq2 Big fan of the new personalization features you guys launched recently. Would like to see some richer controls for setting multiple minimum stays throughout the year.
Kam Bain ✍@kam_bain · Founder @Craaave, Growth @BeyondPricing
@greg_schechter @mpq2 Haha Greg is an engineer at Wheelhouse, FYI @rrhoover. What's the policy of blatant abuse and self promotion like this? Feel like this really detracts from the integrity of the PH community. See: https://www.usewheelhouse.com/ab...
James Currier@james_currier
Well done, Wheelhouse. Very needed by the market.
Michael QuinnMaker@mpq2 · Wheelhouse Software
@james_currier Thanks, James!
Sophie Sieck@sophie_sieck
How is this different than Beyond Pricing (https://beyondpricing.com/)? I've been using them for 2 years and have nothing but great things to say. This seems like a blatant copy…
Quinn HubertzMaker@quinnhubertz · Product Guy
@sophie_sieck Hey Sophie, thanks for bringing that up! Have you tried Wheelhouse? We take a fundamentally different approach. We empower hosts & owners to run their short-term rental business *their* way, rather than taking the "one size fits all" approach. And our customers love it! Additionally, we are the only team in the space that has a team of Ph.D Data Scientists that have spent the past 2+ years developing the most powerful pricing engine in the industry. This is evidenced by winning partnerships with a few major travel brands. The result is more control, more revenue, and more pricing peace of mind. You can also learn more about how we're different from our competitors at the bottom of this page ;) https://www.usewheelhouse.com/pe...
Stephi Baer@stephi_baer · New Relic
:)