AirBnB Listing and Review Analysis
Group Project
Background
AirBnB is a service that lets property owners rent out their spaces to travellers who are looking for a place to stay. During the COVID-19 pandemic, the hospitality sector experienced a decreased in revenue. Therefore, the company wants to know the factors that are most impactful to the revenue decrease.
Objective
To increase the number of AirBnB visitors by 10% per year by analyzing the factors that have the highest impact on revenue within the last 5 years (2016-2020)
Scope of Work
Data cleaning, EDA, data aggregation, and correlation regression
Methodology
Data cleaning: handling typos, handling missing values, convert data types
EDA and data aggregation
Correlation Regression
Data visualization and Clustering Segmentation
Tools
Python and Tableau
Important Links
Result
Dashboard using Tableau
Metrics
Total Revenue
Number of Hosts
Number of Visitors
Revenue per City
Top 10 Listings
Monthly Total Visitors
Average Price per City
Number of Instant Bookable
Number of Listings by Room Type
Insights and Recommendations
In a nutshell:
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Customer satisfaction was heavily influenced by availability of Private Room and Instant Bookable service. We highly recommend AirBnb company to increase the number of Private Room by 6% and the number of hosts that have Instant Bookable service by 15%.
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Hospitality services is heavily influenced by seasons, conditions (pandemic or any other conditions), and locations.
Segmentation
There is 3 segmentations for the market target, that is light travellers, medium travellers, and high travellers. Using this segmentations, company can make a specific plan for each segmentation. We maintain all of the market segmentations, but we give specific plan for each segmentation.
High Travellers
High Travellers are passive users people. They have high money spending and high nights spending on their transactions. Number of high travellers is the largest.
Medium Travellers
Medium Travellers have the smallest number and not so active users. This kind of user is inclined to prefer promos.
Light Travellers
Light Travellers is a current users. These kinds of users love low budget holidays with no minimum spending nights. Obviously when it comes to a low budget they’ll get it really soon, so they love promos, promos, promos.
Customizing marketing strategy for each visitor cluster :
High Travellers
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Increase deals and offers for direct booking since 3 months in advance
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Give a special promo code to enter the tourism rides
Medium Travellers
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Collaborate with online and offline travel agents to offer bundling packages
Light Travellers
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AirBnB social media challenge (i.e. IG stories/post, etc.) to be eligible for promo
To invite new users :
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AirBnB social media challenge to maximize company exposure
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Referral discount code