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IntroductionAirbnb is an online community marketplace that connects people looking to rent their homes with people who are looking for accommodations.

Airbnb users include hosts and travellers: hosts list and rent out their unused spaces, and travellers search for and book accommodations in 192 countries worldwide.

It's free to create a listing, and hosts decide how much to charge per night, per week or per month.

Each listing allows hosts to promote properties through titles, descriptions, photographs with captions and a user profile where potential guests can get to know a bit about the hosts.

Travellers (or "guests") search the available database of properties by entering details about when and where they'd like to travel. Travellers can further refine searches by making selections for: Room type, size, price, amenities etc.

Merits to the CustomerThe consumer (host) can earn extra money from his property when not in use.

The travellers (guests) can get the feeling of staying at home, often at a cheaper rate as compared to the expensive hotels.Host Guarantee program provides protection for up to $1,000,000 .

Both hosts and guests can help limit risks by using Airbnb features including Verified IDs, profiles, reviews, messaging, secure payment platform and the Host Guarantee.

The AIRBNB site is customer friendly. The website design is quite appealing and easy to use.

The site has various common queries listed and answered in order to keep their customers (hosts and guests) free from all doubts.

The site allows its customers to contact each other in order to clear some additional queries OR to negotiate certain T&C.

Demerits to the CustomerThe biggest risk for hosts is that their property will get damaged.

In order to avail the Host Guarantee Program it's important to read the terms and conditions to fully understand what's covered, what's not covered (things such as cash, rare artwork, jewellery and pets arent covered) And also the steps a host must take to seek payment under the Host Guarantee.

The Travellers pay a guest service fee of 6-12% on top of the reservation to cover services such as customer support and the Host Guarantee.

In addition to that AIRBNB takes 3% service fee from the host for each reservation to cover the cost of processing the transaction.

The business doesnt check whether the information regarding the property entered by the host is correct. This forms a major risk for its guests.

The site doesnt provide any information regarding the State and Local Laws. Thus the travellers have to gather and understand these law by themselves.

Merits to the BusinessThe target audience is very large. This in turn increases the profit margin of the business.

AIRBNB gets the guests and hosts together. Thus the expenses on the business are far too nominal as they neither buy nor rent any of their personal property.

The site asks its customers to register as a member. This in turn helps the site the get a large customer base.

Along with the details provided about the property the site gives additional information regarding the destination, locality and a lot more.

AIRBNB have the customer review option available. Thus the travellers are able to make decisions based on the past experience of the other travellers.

The site provides a lot of transparency in its activities. The guests and the hosts are allowed the contact each other and sort out their personal doubts regarding the property, rates and taxes etc.

A lot of information is provided which guides the customers (hosts/guests) through out the site.

Demerits of the BusinessAIRBNB doesnt provide any customer loyalty options. This In turn might aggravate the customers (hosts/guests) who use the site often.

The icon to change the currency and language is at extreme right corner and therefore not easily visible.

Once the guest has made the payment there is no turning back. No refund or cash back options are provided to the customers.

There are chances where the customer (host/guest) might provide their fake identity. This may lead to security threats to both.

Travel and stay go handed in handed. However apart from residence, the site doesnt provide any transportations facilities or any information regarding the same.

When a customer types in his queries it takes nearly a week for the site to respond back. This intern may delay the customer especially the business travellers in making decisions.