Airbnb said on Monday it was allocating $250 million to help offset losses by hosts around the world whose guests have canceled bookings in the face of the coronavirus pandemic, following its announcement earlier this month that guests could get full refunds for certain reservations.
The aid, which will pay hosts 25 per cent of their normal cancellation fees, is being offered globally except for China. The payments to hosts apply to the cancellation of reservations with check-in dates between March 14 and May 31.
Because hosts can choose different cancellation policies, some requiring a penalty payment with others allowing free cancellation up to a certain date before check-in, not all canceled reservations will qualify for a payment.