Wheelhouse Review: Is It The Right Pricing Tool For You?

Planning on trying out the Wheelhouse pricing tool for your vacation rental? We're sharing everything you need to know to help you decide!

Disclosure: This post may contain affiliate links.

Read our review of the best vacation rental software.

Getting pricing right in business is tough – price too high and customers might walk away; too low and your profits suffer. This constant struggle to find the perfect price in a constantly shifting market is a real challenge.

Enter Wheelhouse Pricing. It simplifies this complex task by using real-time data to guide your pricing decisions. No more guesswork, just smart, data-driven strategies to help you find the right price – a balance that appeals to your customers and protects your profits.

In this Wheelhouse review post, we’re taking a closer look at Wheelhouse to help you decide if it’s a good fit for your business.

Disclosure: This post contains affiliate links, and we may earn a commission at no extra cost to you. The information in this post is based on the in-depth research we do in order to recommend the best software to our clients.

What is Wheelhouse?

Wheelhouse is an effective tool for optimizing Airbnb pricing, directly connecting with listings, and offering a range of personalization options and insightful analytics. Compared to Airbnb’s Smart Pricing, which try to balance the interests of hosts and guests, Wheelhouse is dedicated solely to the hosts’ needs, aiming to maximize their revenue.

The tool has shown to significantly impact hosts’ earnings, with reported revenue increases between 10% and 40%. This substantial growth in income highlights Wheelhouse’s effectiveness in pricing strategy optimization.

The user interface of Wheelhouse is user-friendly and offers extensive customization, allowing hosts to adjust pricing strategies according to their preferences and the specific demands of their listings. This level of customization is particularly valuable in the vacation rental market, where diverse properties require tailored approaches.

Moreover, Wheelhouse provides detailed analytics, giving hosts insights into market trends and competitive pricing. This information is crucial for making informed decisions and ensuring that listings are priced appropriately at all times, leading to both increased revenue and a more strategic approach to property management.

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.

How Does It Work?

Wheelhouse is a dynamic pricing tool that leverages a comprehensive dataset from multiple platforms like Airbnb, Booking.com, and others. It uses advanced algorithms to create optimized pricing for your properties, updated daily for a 12-month period. This approach significantly diversifies your pricing options beyond the usual few set by most vacation rental owners.

Getting started with Wheelhouse is easy. Simply link your listings to their system, and you’ll receive a base price recommendation. You can adjust this price and further tailor your strategy by setting price limits, applying discounts, and managing stay durations.

Moreover, Wheelhouse includes a performance tracking feature, enabling you to monitor and refine your pricing approach effectively. This tool offers a detailed yet user-friendly way to enhance your rental income with minimal hassle.

Wheelhouse Key Features

The primary features of Wheelhouse are Revenue Management and Market Reports.

Let’s take a closer look at each of these features.

Revenue Management

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.

Market Reports

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.

Access this Market Report for San Francisco.

The data from these Market Reports can inform your pricing strategy, and help you see how your vacation rentals are stacking up against the competition in your area.

But is Wheelhouse available in your area? Wheelhouse reporting is available in 600+ markets on 6 continents. So most likely they are available in your area. You can check here.

Integrations

One of the only areas where Wheelhouse falls a bit behind versus competition like Beyond Pricing or PriceLabs is its number of integrations with booking channels and software platforms. Read our comparison of Wheelhouse vs Beyond Pricing.

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, Guesty for Hosts, BookingSync, Guesty, Hostfully, MyVR, Hostaway, Streamline VR, Rentals United, iGMS.

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. You can also use referral code FLOORSPACE for 75% off your first month.

Compared to PriceLabs (which only offers a flat monthly rate) and Beyond Pricing (which only offers 1% per booking), Wheelhouse offers the most choice when it comes to pricing structure.

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.

Wheelhouse Alternatives

Looking for alternatives to Wheelhouse? Two notable options are Beyond Pricing and PriceLabs.

Beyond Pricing

Beyond Pricing is a widely recognized tool in the vacation rental industry, known for its market-driven approach to pricing. It utilizes real-time market data to adjust your rental prices dynamically, ensuring competitiveness and profitability. Beyond Pricing’s interface is user-friendly and offers an intuitive way to manage pricing across various booking platforms.

PriceLabs

PriceLabs, on the other hand, offers a more customizable pricing strategy. It is renowned for its flexibility, allowing you to adjust settings according to your specific needs. PriceLabs provides detailed market analytics and a range of customization options, making it a strong choice for those who prefer a more hands-on approach to pricing management.

Both Beyond Pricing and PriceLabs offer robust solutions, each with unique features suited to different preferences and management styles in the vacation rental business. Read our comparison of Beyond Pricing vs PriceLabs.

Wheelhouse Review Conclusion

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.

UseWheelhouse.com - Airbnb Dynamic Pricing Tool

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).

You can start with a free account at UseWheelhouse.com and only commit to a paid plan when you’re ready. Enter referral code FLOORSPACE for 75% off your first month.

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