Although China has become an emerging market in the peer-to-peer (P2P) accommodation industry, no research has been conducted to examine Chinese guests’ experience with short-term rentals. This study aims to investigate major service attributes that influence Chinese guests’ experiences and satisfaction with P2P accommodations by analyzing online reviews on the Xiaozhu sharing economy platform in China. Using text mining and content analysis method, the study found that Chinese guests who stayed in entire houses/apartments and private rooms frequently mentioned “host service,” “cleanliness,” “location and transportation,” and “living environment.” In addition, the guests who stayed in private rooms cared more about “security and privacy” and “value for money.” Those who stayed in entire houses cared more about the facilities, with a particular focus on the aspects of the kitchen. Finally, the guests who stayed in private rooms valued social interaction with the host more and left a lower proportion of negative reviews related to “host service” than those who stayed in entire houses. This study provides a comprehensive understanding of the Chinese guests’ experience.