Post Social Distancing, Break In To Airbnb Business Seattle
After we have weathered COVID-19 and wish to win back some of what was lost during the global crisis, I say turn to the Seattle, Washington(US), housing market. If your looking for a less congested San Francisco with a relatively high tech exposure look no further than to the sleepless city, knowing that it will have to sometime.
Potential Business Questions
- )What are the factors that go into Seattle’s Airbnb prices?
- )Can a reasonable pricing model be made?
- )How can one maximize the price?
- )How does customer review counts/score correlate with pricing?
Exploring Seattle Data
Airbnb make a good business out of providing housing across the world, so if one looks at the data from the platform(Airbnb) in Seattle supplied on Kaggle’s website. One find a lot of features that may go into the price of accommodation, but none more prevalent than the one found in the following:
The features that we found were correlate to the price outside the low interval of between -0.2 and 0.2, are the “bedrooms”, “accommodates”, “guests_included”, “latitude”, “host_listings_count”, “host_total_listings_count”, “bathrooms”, and “beds”.
These feature have been used to make a model for the price in Seattle, giving a relative error of about $0,50. This is a very reasonable Linear model, that in providing such a low error, validate the features that went into it. An answer to Question 1.) and 2.).
Inspecting the feature with the price like the following:
which for example tells us that if one would want to maximize ones housing price it should accommodate 6 people. If this is done for all the features we get the following: