Introduction
Utilization pricing is very similar to what you may experience when booking a hotel room. For example, a hotels rates may increase greatly based on the amount of rooms that have been booked. In many cases, this can greatly increase revenue for a busy time of year or special event in your area.
Utilization and Optimization FAQ
How does Wheelbase calculate utilization?
We calculate utilization by looking at how many vehicles are available for the dates that the guest is selecting.
Example
Let's say you have 10 vehicles. If the guest is looking to book from January 1st through January 7th, and you only have 2 vehicles available for this date range, that means 8/10 of your vehicles are booked for the 1st - 7th, thus bringing you to 80% utilization.
Using the example above, this means that if you did have a rule set up to increase your price by 10% once your fleet is at 80% utilization, the renter looking to book for the January 1st - 7th reservation would see an increase of price by 10%/night.
Note: Utilization pricing is only calculated for the vehicles selected on this rule.
How do I set it up?
- Go to New Rule
- Select Utilization & Optimization, the selected rule type square will turn grey once selected.
- Set rate and price adjustment by selecting "+Add another adjustment rule"
- Fill out the price adjustment form, If utilization is at least -- then decrease price by --.
- Select the dates for your rule
- Select from the drop down menu if the rule applies to a single vehicle, type of vehicle, or all vehicles
- Name the rule, this is for your internal organization. The name will show up on your rules list on the rules page
- Choose whether you want the rule to become active right away or not.
- Select "Create Rule"