In the face of the coronavirus-generated health emergency worldwide, the platform decided to reimburse the reservations and help its hosts with a fund of $ 250 million.
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The hosting and accommodation platform Airbnb will allocate a $ 250 million fund to help its hosts cover the cost of cancellations due to the contingency generated by COVID-19.
“On March 11, when the World Health Organization declared a pandemic, we faced a dilemma. If we allow guests to cancel and receive a refund, we knew it would have significant consequences on your livelihood. However, we could not allow guests and hosts to feel pressured and thus put them in unsafe situations, creating an additional danger to public health. We determined that the right thing to do was to allow your guests to cancel and receive a full refund, including all of our fees. Please note that this decision was not a business decision, but was based on the protection of public health, “said Brian Chesky, CEO of Airbnb, in a letter to his associates.
In this way, some of the measures taken by the application's board of directors are:
They will pay $ 250 million to the hosts to help cover the cost of COVID-19 related cancellations
When a guest cancels a reservation due to a circumstance related to COVID-19, having a check-in between March 14 and May 31, the platform will pay 25% of what their hosts would normally receive through their cancellation policy.
This applies retroactively to all coronavirus-related cancellations during this period. The cost will be covered entirely by Airbnb, and payments will begin to be issued in April.
Guests with reservations made before March 14 can still cancel and receive a standard refund or a travel credit equal to 100% of what they paid.
A $ 10 million superhost relief fund
This fund is designed for Superhosts who rent their own home and need help paying their rent or mortgage, plus long-time experience hosts who are trying to make ends meet without being so affected.
The fund started with donations from its employees that reached a million dollars. “Joe, Nate and I are personally contributing the remaining 9 million,” said Chesky.
Starting in April, hosts can request financing of up to $ 5,000 that does not need to be repaid.
Previous guests can send you financial support directly
They are looking for a way for guests to send a note along with a contribution to any of the hosts they have previously stayed with. This information will be available in April.