Airbnb to pay hosts $250 mln for coronavirus cancellations

Airbnb is devoting $250 million to help hosts survive financial losses from refunds given to guests who cancelled their reservations due to the coronavirus.
The move comes amid the governments’ orders for everyone to stay home in order to slow the spread of the virus. Airbnb said on Monday it will pay hosts 25% of what they would typically be due if someone booked between March 14 and May 31 cancels the stay.
“Please know this decision was not a business decision, but based on protecting public health”, said Airbnb chief Brian Chesky.
“While I believe we did the right thing in prioritizing health and safety, I’m sorry that we communicated this decision to guests without consulting you, like partners should”, Chesky said, and added: “We know this is just a little bit, but a little bit can go a long way at this time”.
Travelers who cancel Airbnb reservations made between March 14 and May 31 are promised complete refunds or credit for future stays. The company also created a $10 million relief fund for highly rated “superhosts” who need help paying their mortgage or rent due to the virus impact on the travel industry.
Chesky added that some 50,000 Airbnb hosts have volunteered to make their homes available to health care workers, relief providers, and first responders combating the pandemic.