AirBnB Dashboard

Project Description

The project entails the analysis of Airbnb listing and pricing data derived from 10 European cities. A total of 51,710 listings were analyzed, and a total revenue of €14.47M was realized.

Primarily, the project sought to scrutinize factors impacting reservations on both weekdays and weekends in the locations. This analysis provides valuable insights that could facilitate the conduct of financial feasibility assessments, gap analyses of the business, re-evaluate the business' value proposition and enhance good decision-making regarding the expansion or elimination of unviable options. Ultimately, the anticipated outcome of this initiative is to enhance Airbnb's listings, customer ratings, and prices within the cities of operation. Key factors considered in the analysis include customer ratings, room types, proximity to city centers, prices of listings, and weekdays or weekends.

NB: While the dataset contains data for weekends and weekdays, it is devoid of time and specific dates. Hence, time series forecasting was not possible.

Data Source: Open-source dataset from Kaggle. (https://www.kaggle.com/datasets/thedevastator/airbnb-price-determinants-in-europe).

Business Questions Used for the Analysis

• How many listings are there per city?
• What is the average price of the listings by room type in different cities on weekdays and weekends?
• What are the average revenue generated per city of operations?
• What is the distribution of bookings based on the distance to the city center and metro stations across the countries on weekdays and weekends?
• How is revenue affected by distance from the city center across the European countries?
• What is the aggregate revenue and the total count of bookings categorized by room type, differentiating between weekdays and weekends?
• Are there differences in revenue figures among the ten European countries?
• Which country stands out as the top performer, both in terms of revenue generation and overall guest satisfaction rating?
• Which country stands out as the least performer, both in terms of revenue generation and overall guest satisfaction rating?
• Which country has the highest and the lowest number of listings based on room types, when considering weekdays and weekends separately?
• Which are the top 5 countries in order of cleanliness?

Key Insights

• The highest revenue-yielding country is Amsterdam. It has about double (€571) the average revenue of listings in the total listings(€280). Athens, Budapest, Vienna, Berlin, and Rome are all on average, priced lower than the average revenue of the entire dataset. The least being Athens with an average revenue of €151.

• The majority (99.36%) of the listed rooms were not shared by multiple users. The entire home/apartment type of listings was the highest in demand room listing(63%), the next are private room types (36%), and the least demanded were shared rooms(1%).

• Weekend bookings consistently outnumber weekday bookings across all the European countries with similar bedroom counts, contributing to higher weekend revenues. Generally, the average room price is higher on weekends compared to weekdays.

• On both weekdays and weekends, customers rated Athens as the most satisfying city, and London, as the least satisfying. On weekdays, Rome and London record the highest guest satisfaction ratings. Although London experiences a rise in ratings during weekends, it still remains the least satisfying country of all. Athens also doubles as the cleanest country.

• London is the highest-rated country according to 'Hosts is super host'. Rome, Paris, Lisbon. Athens make up the top 5 cleanest countries according to the customer survey.

• In terms of proximity, Athens has the least average distance to the city center (1.80km), and London records the highest number of listings that are very far (above 4.0km)from city centre. However, more listings are near to the metro station in London compared to the other countries.

• Rome sees the highest demand for entire room/apartment listings, both on weekdays and weekends, while private rooms are favored in London. Notably, London registers the highest total listings. Amsterdam claims the highest average room prices for various room types on both weekdays and weekends.

• The top 5 countries in order of cleanliness are : Athens, Rome, Budapest. Next are Vienna and Budapest, which both have the same cleanliness rating score, coming up in the 4th position.