Airbnb invests $ 250 million in payments to landlords to avoid financial losses

Airbnb said on Monday that it will invest $ 250 million to help prospective homeowners avoid financial losses from refunds for guests who cancel their travel plans due to a coronavirus pandemic. The move came a few weeks ago when a shared-home site decided to offer olive branches to Airbnb homeowners, a sum that blinded them, and as suggested by health authorities and the government, the decision was made to provide guests who cancelled their stay in full Refund. [19659002IfapersonbookingbetweenMarch14thandMay31thcancelsaCOVID-19stayAirbnbwillreimbursethelandlordfor25%ofthenormalduecost

Airbnb also set up a $ 10 million relief for professional and high-value "super landlords" to help them cancel travelers who booked at that time. Coronavirus's devastating impact on the tourism industry Airbnb employees started the fund for $ 1 million, and according to the company, the two co-founders donated the remaining $ 9 million. In addition, Airbnb has added a feature to its platform that will enable people to send money to help the hosts they connect with during their stay.

According to Chesky, about 50,000 Airbnb hosts volunteer to provide services. This is to enable medical staff to use their premises.

Airbnb offers refunds to passengers

Airbnb said on Monday that it will invest $ 250 million to ease providers and rescuers fighting the coronavirus pandemic. This is to help prospective hosts avoid losses caused by compensating guests. Due to the pandemic virus pandemic, it cancelled travel plans. The move comes as the olive branch is extended to Airbnb hosts. A few weeks ago, a decision made by a home-sharing site clouded it. This is to provide a full refund to guests who cancel their reservation. As urged by health authorities and the government, this will stay at home.

Airbnb will compensate the landlord for 25% of what they usually owe. A COVID-19 stay will be cancelled if someone booked between March 14th and May 31st. Travelers who cancel their reservation on the day will receive a full refund or credit for future stays.

Airbnb also set up $ 10 million in relief for professional and high-value "super landlords." It needs assistance in paying mortgages or rent. This is due to the devastating effects of coronavirus on tourism. Employees started the fund for $ 1 million. According to the company, the two together donated the remaining $ 9 million. In addition, features have been added to its platform.

According to Chesky, about 50,000 landlords volunteered to open their homes. This is aimed at health-care workers, aid agencies and first responders who are fighting the coronavirus pandemic.

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