Price recommendation on vacation rental websites

Yang Li, Suhang Wang, Tao Yang, Quan Pan, Jiliang Tang

Research output: Chapter in Book/Report/Conference proceedingConference contribution

2 Scopus citations

Abstract

Vacation rental websites such as Airbnb have become increasingly popular where rentals are typically short-term and travels or vacations related. Reasonable rental prices play a crucial role in improving user experiences and engagements in these websites. However, the unique properties of their rentals challenge traditional house rentals that are often long-term and study or work related. Therefore, in this paper we investigate the novel problem of price recommendation in vacation rental websites. We identify some important factors that affect the rental prices and propose a framework that consists of Multi-Scale Affinity Propagation (MSAP) to cluster houses, Nash Equilibrium filter to remove unreasonable price and Linear Regression model with Normal Noise (LRNN) to predict the reasonable prices. Experimental results demonstrate the effectiveness of the proposed framework. We conduct further experiments to understand the important factors in rental price recommendation.

Original languageEnglish (US)
Title of host publicationProceedings of the 17th SIAM International Conference on Data Mining, SDM 2017
EditorsNitesh Chawla, Wei Wang
PublisherSociety for Industrial and Applied Mathematics Publications
Pages399-407
Number of pages9
ISBN (Electronic)9781611974874
DOIs
StatePublished - Jan 1 2017
Event17th SIAM International Conference on Data Mining, SDM 2017 - Houston, United States
Duration: Apr 27 2017Apr 29 2017

Publication series

NameProceedings of the 17th SIAM International Conference on Data Mining, SDM 2017

Other

Other17th SIAM International Conference on Data Mining, SDM 2017
CountryUnited States
CityHouston
Period4/27/174/29/17

All Science Journal Classification (ASJC) codes

  • Software
  • Computer Science Applications

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  • Cite this

    Li, Y., Wang, S., Yang, T., Pan, Q., & Tang, J. (2017). Price recommendation on vacation rental websites. In N. Chawla, & W. Wang (Eds.), Proceedings of the 17th SIAM International Conference on Data Mining, SDM 2017 (pp. 399-407). (Proceedings of the 17th SIAM International Conference on Data Mining, SDM 2017). Society for Industrial and Applied Mathematics Publications. https://doi.org/10.1137/1.9781611974973.45