If you’ve been looking into Airbnb pricing tools, you may have come across Wheelhouse. It’s an up-and-coming vacation rental pricing software platform that allows you to easily optimize your pricing and maximize profits.
In this post, we’re taking a closer look at Wheelhouse to help you decide if it’s a good fit for your business.
How Much Does Wheelhouse Cost?
Given that Wheelhouse users usually increase their revenue by 10-40% by optimizing their pricing, it’s better to think of using a pricing tool like Wheelhouse as an investment rather than an expense. With that said, let’s take a look at how much Wheelhouse costs.
One of the best things about Wheelhouse is its flexible pricing structure. You can create a free account to get familiar with the platform, and once you’re ready to commit, you can choose from 2 different paid tiers: Essential and Pro.
- Free Plan: access free pricing insights with limited features. Learn more about the platform before you commit.
- Essential Plan: 0.75% per booking + $2.99/listing/mo
- Wheelhouse “Pro” Plan: starting at $19.99/listing/mo (10-30%+ bulk listing discounts)
Visit Wheelhouse’s pricing page for more information about the features and bulk discounts of each plan.
Some quick math on your nightly booking amounts and number of listings will help you decide whether the Essential or Pro plan is more cost effective.
The primary features of Wheelhouse are Revenue Management and Market Reports. Let’s take a closer look at each of these features.
Whether you’re looking for a set-it-and-forget-it dynamic pricing tool that will automate everything, or you want to take control and customize different strategies across multiple listings, Wheelhouse’s revenue management features probably have what you need.
With Wheelhouse, you can control the following settings:
- Base price – the recommended price for your listing, around which all other prices are calibrated.
- Minimum night stays – create rules for length of stay based on different seasons, weekends, etc.
- Minimum and maximum prices – make sure you don’t go below or above the pricepoints you define.
- Custom rates – take full control and set a completely custom rate on any listing at any time.
- Last-minute discounts – increase your chance of getting a booking before an available night expires.
- Long-term discounts – create a discounted rate for guests who want to stay for extended periods.
- Weekend adjustments – customize how much (or how little) your weekend pricing increases.
- Seasonal adjustments – adjust your rates for summer (or any season) without changing your entire pricing strategy.
- Far-future pricing – customize how much (or how little) your far-future pricing increases.
You can choose to customize each of these individually, or simply select your level of “risk tolerance” and let Wheelhouse adjust them for you.
Once you’ve adjusted your settings to your preferences, you can preview the impact your adjustments will have on your pricing strategy. And once you’re done, you can monitor performance from your dashboard to make sure you’re on track, and go in and adjust any settings at any time.
Check out this page to learn more about Wheelhouse’s revenue management features.
Wheelhouse also offers in-depth market reports for hundreds of markets around the world. More than likely, Wheelhouse is available in your area, and you can take advantage of a robust set of market and pricing insights based on billions of data points.
The data from these Market Reports can inform your pricing strategy, and help you see how your vacation rentals are stacking up agains the competition in your area.
If you’re only listing on Airbnb, then this isn’t a problem—Wheelhouse works with Airbnb and Tripadvisor.
To integrate Wheelhouse with other channels like Booking.com or Vrbo/Homeaway, you’ll need to use a supported vacation rental management software. Fortunately, even if you’re using software that doesn’t integrate with Wheelhouse, you can still most likely grab your Wheelhouse updated pricing straight from Airbnb (see this explanation from Uplisting).
Here’s a full list of Wheelhouse’s current integrations: Airbnb, Tripadvisor, YourPorter, BookingSync, Guesty, Hostfully, MyVR, Hostaway, Streamline VR, Rentals United.
- Is Wheelhouse available in my area? Wheelhouse reporting is available in 600+ markets on 6 continents. So most likely they are available in your area. You can check here.
- How is Wheelhouse different from the competition? One of the primary ways Wheelhouse differs from the competition is the emphasis on customization. While it’s also possible to use Wheelhouse as a set-it-and-forget-it automated pricing tool, you also have the option to customize each setting exactly how you want it.
If you’re looking for a dynamic pricing tool for your Airbnb, Wheelhouse is a very solid option. Their revenue management features, combined with flexible pricing options, make it a good fit for the majority of vacation rental hosts and property managers.
The biggest drawback to Wheelhouse is the limited number of integrations. If you’re using a channel manager or other vacation rental software that doesn’t integrate with Wheelhouse, we recommend you check out Beyond Pricing (1% per booking) or PriceLabs (flat monthly rate).
And remember, you can start with a free account at UseWheelhouse.com, and only commit to a paid plan when you’re ready.