Help People And Make Extra Money
Welcome to City Host
Enter Your Geo-location And Number Of Beds
It's hard to find affordable hotels in cities like San Francisco. Hosting can me an easy way to make extra money […]
You are in full control of your availability, places, and hours. Also, we will be there supporting you 24/7 […]
Guests are charged before arrival, and you are paid automatically after check in, minus a 10% service fee […]
This is something very interesting. The price is directly correlated with the number of beds you have in your Airbnb! What are you waiting for? Get more beds and make more money.
That's also why we ask you to tell us the number of beds you have in your Airbnb in order to give you the most accurate approximation.
Also, the rest of the metrics we find would be based on this fact as well!
We chose four most commonly seen facilities in a household. They are TVs, Wireless Internet, Kitchens, and Heating Systems.
From this we can see, people are willing to pay more price for an Airbnb with a kitchen, and TV, wireless Internet, and Heating following afterwards.
We fix the number of beds in the Airbnb for easier comparision. In this case, I fixed the number of beds to be two.
In order to maximize our profit, we need to maximaize the difference between total revenue and total cost, so we need more customers to accomplish that.
From the graph we can see, the host with more reviews (more customers) can lower their price to increase the demand in order to maximize their profits.
There are generally two strategies, either set the price high and expect not many visitors, or we can make it cheaper to attract more customers. I am not trying to argue one way is better than the other (we need more data about the number of customers to figure that part out), but if you haven't tried to lower the price, that may work :)