November 16, 2021 | Hailey Friedman
Wheelhouse is excited to announce some new innovative Minimum Length of Stay and Minimum Pricing features that will take your revenue management to the next level.
We have developed by far the most robust Minimum Length of Stay and Minimum Pricing controls to implement your strategy. These improvements will increase granularity for advanced revenue management users and enhance the minimum length of stay settings to maximize revpar.
Now you can control your operations better than ever and rest easy knowing your exact strategy is always implemented.
With this update you can eliminate the maintenance of complex Minimum Length of Stay rules, capture the best bookings, save time, and earn more money. Watch this video tour to see it in action:
New updates to Minimum Length of Stay allow users to produce a higher level of granularity to fit any strategy.
Wheelhouse optimizes pricing strategies by making it easier to establish different days of the week minimum length of the stay rules for additional months.
Users are empowered to add any number of rules that will roll over month to month, preventing the need to update them constantly.
The flexibility of this new feature allows for time-based minimum stays to apply to specific months. So, if you have a high season, you can hold your weekend minimum until seven days, but in a low season, you can drop your minimum in 30-days, all with the ease and convenience of Wheelhouse’s efficient platform.
In the past, users were only able to set day of the week minimum stays with time-based rules, now build a time-based minimum length of stays that also account for different days of the week and can be applied to different months.
This new feature is highly intriguing to advanced revenue management users and is displayed on a beautiful graph, giving users a visual of their price fluctuations.
New updates to minimum price settings allow users to tailor strategy in price setting to fit the needs of seasonality. This feature makes it easier to automate minimum pricing in users’ systems.
In addition, date-specific minimum rules have the option to roll over yearly. That’s right, take the burden off of planning Christmas dates every year; these minimum rules will automatically roll over yearly, one less thing that needs to be on your mind! Users complete this by setting one date range in the platform and clicking the ‘yearly’ option.
One final update is the gap night logic. Users will have the ability to set a lead time to determine when they wish for gaps to open up.
Users can use this same setup and format for minimum pricing by setting these rules in bulk in the portfolio settings.
Wheelhouse is always looking to improve and create the most innovative features in the market, helping users maximize their revenue with ease and efficiency.
With every improvement we make to the platform, we are always open to feedback and conversations to further our growth and improvement.
By helping users optimize pricing for their rental properties, Wheelhouse has become one of the top trusted names in short-term vacation rental management.
Keep an eye out for more awesome features in the future, and continue to trust Wheelhouse to assist you in optimizing your property management.
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