Short-term rental accommodation platform Airbnb on Monday announced that it will pay $250 million to hosts all over the world to help cover the cost of Covid-19 cancellations.
In a letter to all the hosts registered on its platform, Airbnb informed that when a guest cancels an accommodation reservation due to a Covid-19 related circumstance, with a check-in between March 14 and May 31, each host will be paid 25 percent of what they would normally receive through their cancellation policy.
“This applies retroactively to all Covid-19 related cancellations during this period. This cost will be covered entirely by Airbnb,” the letter, signed by Airbnb’s co-founder, CEO and Head of Community, Brian Chesky, read.
Payments to hosts will begin to be issued in April.
Airbnb guests with reservations booked on or before March 14 will still be able to cancel and receive a standard refund or travel credit equivalent for 100% of what they paid.
“When travel comes back—and it will—we look forward to welcoming millions of guests together again,” Chesky said.
More information can be found on Airbnb’s website at airbnb.com/250msupport