Research On The Driving Factors Of Share Short-term Rental Price

In recent years,the sharing economy has risen rapidly across the globe,becoming an emerging force that is driving the rapid economic development of all countries.China as one of the countries which has a huge market demand volume and basic conditions of the Internet is more mature on the world,It has also become a hot soil for sharing economic development in all industries,of which the Internet travel,online short-term rental market is the most popular,Uber and Airbnb in China's operation is enough to illustrate this point.The emergence of sharing economy leverages the short-term rental market,and Airbnb creates such an online short-term market where people with idle lodging assets(such as vacant rooms or apartments)are connected to people who need temporary accommodation(such as tourists)via the Internet.At the same time the exponential growth of sharing rental has been attributed to the platform provides of a wide range of prices and property features,as well as a more diversified experience than that of conventional hotel accommodation However,pricing is widely considered to be one of the most critical factors in determining the long-term success of the accommodation industry.Previous researchers helped to improve the application practice in the hospitality industry by determining the driving factors of hotel prices,factors that affect hotel guests' willingness to pay,and the impact of different pricing strategies on customer perception and satisfaction.While only a few researchers investigated the driving factors of sharing short-term rentals.With the growth of a supplier community for sharing economy based accommodation rental,examination of the pricing of this unconventional accommodation offers important insights for stakeholders into the means of improving their profits and developing their business.For travelers,the study on the driving factors of sharing short-term rental prices can potentially affect their travel expenses and reduce the cost of accommodation,which will help them to develop more rational tourism planning and enjoy a different living experience.Based on the above background,this article is based on the theoretical study of shared economy.At the same time,based on the study and research on the decisive factors of hotel prices,nine cities with different line levels(Beijing,Shanghai and Shenzhen the first-tiercities,Chongqing,Nanjing,Qingdao for the second-tier cities,Qinhuangdao,Sanya,Weihai for the third-tier cities)sharing short-term sample data for research and testing.(1)Firstly,capturing the potential driving factors of sharing short-term rental price from the China Airbnb platform,and then through the relevant descriptive analysis and correlation analysis to filter out the main driving factors which impact the sharing short-term rental price.(2)Then,the OLS regression and the quantile regression(QR)model are established based on the data which have analyzed,then analyzing the driving factors of the Sharing short-term rental price,and analyzing the influence of each driving factor on the sharing short-term rental price.The difference of this paper is that the data comes from different line-level cities,so that we can analyze the significant differences of the short-term rental price driving factors in different line-level cities based on the sample data from different line-level cities.Based on the above empirical analysis results,there are certain differences in the impact of different price drivers on shared short-term rental prices in different line-level cities,provide some theoretical and practical guidance to the pricing system of sharing short-term rental service providers.At the same time also can be based on sharing short-term rental price driving factors in different line-level cities on the significant differences in analysis,can be targeted for different geographical cities to give specific price guidance.