Airbnb Announces $250 Million to Help Hosts Impacted by COVID-19
Online lodging marketplace Airbnb has just announced several key initiatives and policies, including $250 million, to support accommodation hosts impacted by COVID-19-related cancellations. The company says it is working hard to support its hosts during these difficult times.
According to Airbnb, for a reservation to be eligible under this policy, it must have been for accommodations and booked on or before March 14 with check-in between March 14 and May 31, 2020.
In the coming weeks, Airbnb will be asking hosts and guests to revisit these reservations and choose to either cancel or re-commit to the reservation.
If a reservation is covered:
Guests will be able to cancel for a full refund for COVID-19-related circumstances.
Airbnb will pay 25% of what you would’ve received for a cancellation based on your cancellation policy. For example, if you would normally receive $400 USD through your cancellation policy, we’ll pay you 25% of that—or $100 USD.
We’ll send an email with more details in early April to hosts who are getting a payout. Future payments from the fund will be made on a monthly basis to hosts with qualifying cancellations.
This policy will also apply retroactively, including any cancellations you may have had since March 14.
Airbnb also introduced up to $5,000 USD in grants in what it’s calling The Superhost Relief Fund. Hosts who apply for it can get money for free that does not need to be repaid. The fund is somewhat controversial as hosts with more than two active listings are not eligible for compensation.
For any reservations booked after March 14, the regular cancellation policy will be in effect and COVID-19-related extenuating circumstances will not apply.