Thanks for my partner. Next I will analyze the individuals and institutions aspects. I think currently we all understand Airbnb’s basic business models while referring to the access aspect. My part individual is more like to restate the access content in a more practical view because it discusses about how to engage the solutions to end-users. We know that Airbnb is an online market that connects users who has property to rent with users who are looking to rent the space. So here end-users are categorized as ‘Hosts’ and ‘Guests’ and most of the time, one person can be a host and a guest at a same time.

Let’s make an example for you guys to further understand.

Firstly, let’s assume an imperial college student has rent an apartment in London and he wants to go to Scotland during Christmas holiday. Generally he could search the Airbnb to find a property to rent in Scotland, but at the same time he could also post his London apartment in the Airbnb for other students who want to go to London for their holiday. This makes this student as a host and a guest at the same time. The benefit is obvious that this student could save a large amount of money because the renting payment he received could cover the traveling fee.

From this example we could see that the customers of Airbnb is mostly low and middle income people who would like to have a property to live during their holidays. Hence, I think the question how to engage the solutions to end-users in Airbnb is to apply its business models to low and middle income customer groups.

OK now let’s turn to the next part, institutions. First I will put forward a key idea that conclude what I am going to say. From our analysis, we found that the Airbnb would significantly change the hotel institutions styles in the near future. Small-scale, low-end hotels are most likely to lose customers to Airbnb, while those