US: Revenue management and financial intelligence software, Wheelhouse, has launched Dynamic Sets, a mapping and analytics platform designed to unlock revenue and growth opportunities for accommodations operators.
Over the last ten years, the rise of short-term rentals has resulted in a complex and nuanced accommodations landscape. Accommodations can appear overnight, serve guests for 1 to 300+ nights, be managed by a host, property manager, or hotelier, and feature dozens of amenities – from pools to porches, patios, pet policies, and more.
In such a diverse landscape, comparing pricing strategies and performance can prove exceptionally difficult, according to Wheelhouse. Dynamic Sets is specifically designed to provide the context that teams need to drive any revenue or growth decision.
Financial success is all about the details when it comes to accommodations too. Location [the neighbourhood, the access, the view, the vibe], design [amenities, interiors, exteriors], and merchandising [listing design, photos, story telling, reviews] are critical drivers of success, particularly with today’s well-informed travellers.
Dynamic Sets sets out to unpack these performance drivers by combining [a] an easy-to-edit mapping interface with [b] multiple key data layers.
- Geographic data – add in building, environment or even transit data
- Performance data – filter by detailed past and future performance metrics
- Owner / operators data – analyse data from any operator, from hosts to hoteliers
- Inventory types data – consider hotel rooms, hostels, or tree houses
- Amenity data – explore the impact of 100+ amenities [porch, pool, patio, parking, etc]
- Length of stay – isolate inventory that caters to long / short stays
- Draw a boundary around multiple regions
- Filter out listings that cater to different stay types
- Hone in on listings with pools or hot tubs
- Isolate their top competitors.
- Owner comms and retention
By creating accurate – and easy to communicate – context around your pricing strategy, Dynamic Sets can play a key role in improving owner communication and listing retention.
- Owner acquisition
For property managers looking to expand their portfolio, Dynamic Sets enables you to quickly evaluate local owners who will see the best returns by leveraging your service.
- More effective merchandising
Dynamic Sets allows you to easily identify high performing assets – whether they are neighbouring or a few markets over – to identifying which amenities, listing descriptions, or photos are best positioning properties for success.
- Min stay decisions
Inform minimum stay or discounting policies that work by analysing performance data from a proper comp or market set.
- Amenity investment
Use Dynamic Sets to see which amenities create the most value in your current or future markets, to analyse how you might want to modify your listings.
