Online short-term rental service Airbnb has announced $250 million to alleviate the financial losses of homeowners who have faced a wave of cancellations due to the COVID-19 coronavirus pandemic.
This is about bookings made from March 14 to May 31, 2020. Homeowners will receive 25% of the amount they would have been entitled to under the standard cancellation policy. In turn, customers of the service will be able to receive a full refund, or attribute the amount paid to the account of a future reservation.
Airbnb a few weeks ago unilaterally decided to fully reimburse the cost of booking to customers who refused to travel. Some homeowners reacted negatively to this decision, as it meant that they lost a significant share of their profits.
About 50,000 homeowners who cooperate with Airbnb have expressed a desire to place COVID-19 caregivers in their homes for free, as well as rescuers fighting the pandemic.
The San Francisco-based company with a capitalization of about $35 billion before the pandemic planned to return to the exchange in 2020.
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