Airbnb on Monday pledged $250 million to help support hosts whose guests have canceled reservations due to the coronavirus outbreak. In a blog post, Airbnb said its "extenuating circumstances policy" would apply for trips booked before March 14 and check-ins between March 14 and May 31. Guests will be able to cancel for full refunds, while Airbnb will pay hosts 25% of what they would have made on the canceled trip. The company said stays booked after March 14 -- the date the World Health Organization declared a global pandemic -- will not fall under under the extenuating circumstances policy, and regular cancellation terms will apply. For stays reserved after May 31, the company asked hosts and guests to either cancel or re-affirm their reservations. The COVID-19 pandemic has dealt a severe blow to Airbnb, with the Wall Street Journal reporting hundreds of millions of dollars lost this year, forcing the company to consider a capital raise or whether to alter its plan to go public via a direct offering.
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March 31, 2020 at 08:20AM
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Airbnb pledges $250 million for hosts to weather coronavirus-related cancellations - MarketWatch
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