Analysis and Machine Learning Modeling of New York City Airbnb Data

Airbnb is an online-based marketing company that connects people looking for accommodation (Airbnb guests) to people looking to rent their properties (Airbnb hosts) on a short-term or long-term basis. The rentals properties includes apartments (dominant), homes, boats, and whole lot more. Since its inception in 2008, Airbnb has steadily risen in terms of revenue growth and its range of service provisions. As of 2019, there 150 million users of Airbnb services in 191 countries, making it a major disruptor of the traditional hospitality industry (this is akin to how Uber and other emerging transportation services have disrupted the traditional intra-city transportation services). Airbnb generates revenue by charging its guests and hosts fees for arranging stays: hosts are charged 3% of the value of the booking, while guests are charged 6%-12% per the nature of the booking.