BARCELONA - Rentals United announced a partnership with San Francisco-based Wheelhouse, a revenue and growth management company who helps property managers and owners determine the perfect revenue strategy by providing real time, automated pricing recommendations and market intelligence.
As the travel industry starts to slowly recover from COVID-19, having a solid pricing strategy will be crucial to outrun the competition. In the current climate, pricing can be challenging as the market can shift dramatically from day to day. Wheelhouse has found that the Average Daily Rate across most markets have remained relatively static through 2020 as depicted in the graphs below, though it is higher in some destination markets than in previous years.
Wheelhouse’s data presumes that domestic travellers should be property managers’ core focus through the fall. While near-city markets are in higher demand, they are yielding moderately higher rates in the short term. With international travel still uncertain and travel restrictions confusing, Wheelhouse’s recommendation engine suggests that property managers’ best
approach is to maintain a data-backed, automated pricing strategy to ride through these times.
With a global footprint in over 500 markets, Wheelhouse recommendations are built on historical booking performance, real-time market activity, seasonality trends, and local demand. Wheelhouse updates prices each night to earn up to 30% higher revenues. The Rentals United and Wheelhouse partnership gives property managers automatic syncing, customizable strategies and 24/7 live customer support.
Channel manager, Rentals United, strongly believes in providing their clients with a robust and comprehensive set of services that complement their distribution services. CEO James Burrows says, “Now more than ever, the pricing strategy for vacation rentals is essential as the market is finicky and dynamic. Having a yield manager partner is critical to not just surviving the current crisis but in creating business success during this time.”
Andrew Kitchell, CEO and Founder of Wheelhouse says, "We are thrilled to partner with RentalsUnited, and to bring our growing pricing & financial intelligence suite to RentalUnited’s professional operators. In pairing our platforms together, we look forward to helping accommodations providers increase revenues 25%+, and emerge from Covid with ever-stronger businesses.”