How Jetstream improved profits & internal processes with Wheelhouse

Jetstream, a one-stop-shop for managing your rentals, partnered with Wheelhouse to drive both their pricing & revenue strategy.

Key challenge

Improve occupancy rates for clients

Jetstream started collaborating with Wheelhouse in 2021. Initially, they sought to help one of their clients in Memphis who was competing with another hotel during their peak season. Jetstream’s first goal was to leverage Wheelhouse to predict optimal pricing for busy weekends (compression pricing). With Wheelhouse’s robust data, Jetstream was able to optimize prices far in advance of the rest of the market, leading to both superior occupancy and revenue.

After the success of the Memphis client, Jetstream leveraged Wheelhouse to support a hotel client in Mexico. This business had struggled to occupy its rooms for many years, with listings always falling behind other competitors on websites like Expedia and Airbnb. After revising their prices with Wheelhouse’s data-backed recommendations, Jetstream could see that the client had been pricing their room nights too high.

To put things in perspective, in 2021, this client brought in $213,000 in revenue. However, only four months into 2022, they surpassed their entire previous year’s revenue at $227,000 – after using Wheelhouse to inform their pricing.

Solutions

Adding value to distribution and marketing efforts

Jetstream also saw value on the distribution & merchandising side by leveraging Wheelhouse as search volumes increased for their listings. In short, more accurate pricing enabled Jetstream’s marketplace rank to soar.

"Once we got momentum in Mexico, what that also meant was our conversion rates improved. Our pricing was right on the money. Instead of converting 100,000 times on Airbnb or Vrbo, we were converting twice that at 200,000."

Ben Day - Director of Marketing, Jetstream

Assuring Stakeholders with Hard Data

In the past, Jetstream had struggled to find relevant data to back up their business decisions, specifically around pricing. With the help of Wheelhouse, they can now confidently answer questions from stakeholders, partners and investors, leveraging historical data and trends provided by Wheelhouse across all markets.

I really like having the market data available. That’s huge – because our clients, account managers, and partners ask for stuff like that a lot.

David Johnstone - Sr. Software Developer, Jetstream

Tailoring Pricing and Customizations to Meet Business Needs

According to David Johnstone at Jetstream, Wheelhouse has a user-friendly interface – intuitive, easy to use, and fun to explore. Despite Wheelhouse’s razor-sharp accuracy in price predictions, the tool still offers flexibility to meet Jetstream’s needs.

We really like the customizable length-of-stay and price limit settings. You have so many different options for pricing. You get to set the minimum prices, stays, discounts – a lot of rules you can quickly manipulate and control that would be obscenely difficult with just a spreadsheet.

Ben Day - Director of Marketing, Jetstream

In total

A Healthy Business Relationship with Transparency and Trust

The foundation of the Jetsteam & Wheelhouse’s relationship is transparency, communication & collaboration – the foundation of which is trust.

Jetstream is built on the premise of earning & keeping the trust of their customers by over-communicating & over-delivering.

With Wheelhouse, Jetstream has found a partner that shares these goals. Wheelhouse is proud to support the business Jetstream runs today, while building to deliver on the next evolutions of the Jetstream model.

Results

Demonstrated increases in overall revenue
Increased occupancy rates for client base
Impact on distribution, pricing & revenue