Airbnb Demand and Revenue Analysis

Airbnb, a revolutionary change to the rental platform, created a world where people can find a sense of belonging wherever they go. With an increasing demand for airbnb and the robust growth of emerging hosts, we saw the needs to identify important factors that influence demand to improve customer experience. To create more investment opportunities and attract more hosts, we will analyze revenue spatially and seasonally to find the best places to grow their business. By using the price elasticity model we built, hosts will maximize profit while creating more unique experiences for customers.

Key Questions to Answer

1. What features should hosts prioritize and improve if they want to increase return-on-investment?
2. How does location affect return-on-investment?
3. How does demand changes with booking price, assuming everything else is fixed? (Price Elasticity)
4. What is the pricing model and what business value does it have?

The goals of this project is to:

1. Measure the demand of Airbnb in LA;
2. Performed spatial and time series analysis;
3. Build a model to predict the demand;
4. Measure the impact of each variable on the demand of Airbnb in LA;
5. NLP and topic modeling on review dataset