What is changing?
Wheelhouse is discontinuing/deprecating our CompSets Beta product, a prior, limited CompSet offering.
For the last year, we’ve been building an entirely new benchmarking tool from the ground up, that we call Dynamic Sets.
Our old CompSet product will share some aspects in common with Dynamic Sets. Therefore, for any customer paying for a listing as of June 19, 2024, we’re going to convert your automatically created (and custom CompSets) into a new, upgraded Dynamic Set.
This product will be available to you for free until October 31, 2024, and will provide you access to a new, powerful level of actionable insights on Wheelhouse.
What is different about Dynamic Sets?
We are making a huge number of upgrades to our CompSet solution, now called Dynamic Sets, and officially bringing it out of an extended beta offering. These changes include the ability to:
Source additional data, now including Booking.com
Build larger Sets and analyze listings from multiple (2+) markets
Filter potential listings by performance data or by operator
Bring any Dynamic Set data into your new Performance page (previously Booking Insights) for deeper analysis
Assign multiple listings from your portfolio to the same Set
Create and assign listings to a Set in a much more seamless fashion
Store custom boundaries & filter groups
What will happen to my current custom CompSets?
All custom CompSets will be automatically converted into a new Dynamic Set and available for you to use immediately after the release.
Each preserved CompSet that you’ve created before June 19, 2024, will display the status “Legacy” on your new Dynamic Sets dashboard.
“Legacy” Sets will be free until October 31 2024. After this date, “Legacy” sets will default to “Inactive” and move to a Free plan unless you choose to upgrade and pay for those Sets. To retain access to “Legacy” sets across all areas of the platform, you can opt to upgrade those Sets on your Subscriptions page prior to October 31, 2024.
Any new Dynamic Set created after June 19, 2024, will require payment.
Depending on how many listings a custom set contains, you may see either aggregate (collective metrics) or individual metrics in the metrics view and performance insights:
Individual metrics will be displayed in sets containing 25 or fewer listings.
Aggregate metrics will be displayed in sets containing more than 25 listings.
If you rely on detailed data displayed, we recommend removing listings from the set to meet the threshold of 25 or less.
What will happen to each listing’s current default Comparable Set?
Moving forward, Wheelhouse will no longer create a default Comparable Set for listings.
That said, each Comparable Set connected to a paid listing will be automatically converted into a new Dynamic Set and available for you to use immediately after the release.
Each preserved Comparable Set that was generated by Wheelhouse prior to June 19, 2024, will display the status “Legacy” on your new Dynamic Sets dashboard.
“Legacy” Sets will be free until October 31, 2024. After this date, “Legacy” sets will default to “Inactive” and move to a Free plan unless you choose to upgrade and pay for those Sets. To retain access to “Legacy” sets across all areas of the platform, you can opt to upgrade those Sets on your Subscriptions page prior to October 31, 2024.
Any new Dynamic Set created after June 19, 2024, will require payment.
Where will I be able to see my Sets?
In addition to a new and more robust Sets dashboard, you will be able to leverage each Dynamic Set several aspects of Wheelhouse including:
In-Context chart on individual listings (pricing data)
Portfolio Performance Metrics (performance data)
Your upgraded Performance Analytics including bookings insights to easily compare a Set to your portfolio (or Segment of your portfolio)
Will my existing Custom Sets still be tied to a specific listing?
Yes, all legacy custom sets will be automatically tied to their original listing in Dynamic Sets.
Each Dynamic Set can be linked to multiple listings, not just the original one it was linked to. This will remove the burden of creating duplicate sets for similar listings.
Will the names of my sets be preserved?
Yes, the names of all legacy custom sets will be preserved.
Note: If you have a high number of custom sets, we highly recommend reviewing the names and updating the titles to make them more specific and clear for future use and easy navigation. For example, a Set titled “3BR, 2BA” or “Near beach” is likely very generic. Adding markets, amenities or other identifying factors will help tee up a successful and seamless transition.
Will I have to pay for Dynamic Sets in the future?
The short answer is yes. Dynamic Sets will be a paid product offering, due to the much more robust functionality associated with this new product.
As shared, all Custom CompSets and Comparable Sets will be automatically converted to a Dynamic Set and you will retain access to these Sets for FREE until October 31, 2024.
Any new Dynamic Set that you create and assign listings to after the release will be billed monthly at $12.99. This ensures your Set is active and can be leveraged in various aspects of the platform to give you the context you need to analyze and adjust as needed.
Am I required to buy Dynamic Sets?
No, Dynamic Sets is optional. You can use Wheelhouse without purchasing this additional feature. It is designed to enhance your experience, but it is not required.
Will my current pricing be impacted?
No, your current Wheelhouse subscription will not be impacted.
Will I still be able to view old CompSet data within the pricing product?
Yes, all preserved Custom and Comparable Sets will still be viewable on:
In-Context chart on individual listings (pricing data)
Portfolio Performance Metrics (performance data)
Your upgraded Performance Analytics including bookings insights
Additionally, we’re excited to bring you the ability to easily compare bookings within your portfolio, Segments, and Sets within your Performance Analytics. Each Set must be “Active” (on a paid plan) after October 31, 2024, for the Set to retain access to these pages.
This will allow you to seamlessly analyze and contextualize your portfolio’s performance.
Where does Dynamic Sets data come from?
Absolutely no Wheelhouse customer or listing data is surfaced in Dynamic Sets.
Dynamic Sets surfaces “shopped/scraped” data that Wheelhouse buys from multiple data partners, including KeyData.
After consuming this public data, Wheelhouse “cleans” the data via our ML/AI-informed models, in order to predict the likelihood of whether non-available nights were either booked or blocked.
By watching markets and listings nightly, we can accurately discern stay patterns and pricing signals.
The data we buy from all partners includes listing, pricing, and booking data from:
Airbnb
VRBO
Booking.com
Therefore, you are likely seeing the most broad view of the STR market available anywhere.
How will Dynamic Sets be invoiced?
Each “Legacy” Set that is preserved will remain free until October 31, 2024.
After October 31, 2024, all sets will be downgraded, unless they are moved to a paid plan.
After October 31, 2024, each Set that has been upgraded to a paid plan will be billed monthly on the 1st of the month, for the upcoming month. Sets that are added mid-month will be pro-rated for the remaining days of the month.
Invoices will be displayed under Billing > Subscriptions in your Wheelhouse account, in the section labeled “Sets”.
Sets and Pricing invoices will be separate until further notice.