Airbnb To Pay $250Mln To Hosts To Cover Cost Of COVID-19-Related Cancellations - CEO

MOSCOW (Pakistan Point News / Sputnik - 31st March, 2020) Online vacation rental service Airbnb will pay $250 million to hosts to help them cover refund costs for guests who have canceled their accommodation reservations in light of the coronavirus pandemic, CEO Brian Chesky said.

In a letter to hosts, published late on Monday, Chesky noted that the decision to allow guests to cancel their reservation made on or before March 14 and receive a full refund was not an easy, but necessary decision to prioritize health and safety.

"We know that right now many of you are struggling, and what you need are actions from us to help, not just words ... We will pay $250 million to hosts to help cover the cost of COVID-19 cancellations," he said, addressing hosts.

According to Chesky, the company will pay hosts 25 percent of what they would normally receive through their cancellation policy if a guest cancels a reservation with a check-in between March 14 and May 31 due to COVID-19-related circumstances. The measure applies retroactively to all such cancellations during this period.

In addition, the Airbnb CEO announced a $10 million Superhost Relief Fund. Of these, $1 million was donated by employees, and the remaining $9 million was contributed by Chesky and his two co-founders.

According to Johns Hopkins University's latest data, more than 780,000 people have been infected with the novel coronavirus worldwide. Over 37,800 of them have died.