Abstract
The purpose of study is to analyze price determinants of Airbnb pricing in Busan and present political implications. Samples are Airbnb accommodations in Busan during the month of May in 2022. In total, 188 accommodations were collected and analyzed by Hedonic price model. To improve the robustness of regression, 3 models are used. Rating, number of bathroom, maximum capacity, Superhost dummy, Beach dummy, South dummy are significant for all models. The consequence of this research is presented as follows: high-rated accommodations that are hosted by super host claim higher price; being located near beach and tourist attractions increase prices. Airbnb accommodations with more capacity and bathrooms require higher pricing. Especially, bathrooms have bigger impact than capacity because it’s hard to be manipulated. This result can be a guideline not only for Airbnb host but for hotelier in managing accommodation. It turns out that tourists who visit Busan are willing to pay higher price for staying in coastal tourist city. Seoul and Jeju have same consequence, however their impact was much smaller compared to Busan. Though luxury demand can be the reason, the extent of it is too much. Thus, Busan needs to raise another tourist attractions to be dispersed.
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