Airbnb discloses its plan of action to mitigate business crisis caused by COVID-19 pandemic
Through a formal letter, Airbnb Co-Founder, CEO and Head of Community Brian Chesky, has reached out to all its hosts, outlining the extenuating circumstances policy
In a recent announcement, travel lodging platform, Airbnb has opened up about its plan of action to navigate the business through the economic crisis caused by novel Coronavirus.
Through a formal letter, Airbnb Co-Founder, CEO and Head of Community Brian Chesky, has reached out to all its hosts, outlining the company’s commitment and the updated extenuating circumstances policy. Besides, in the letter Chesky has also announced a number of initiatives that have been taken to navigate the disruption to travel and daily routines.
Here’s what was announced:
- Package of $250 million to be paid to host in order to help them cover the cost of COVID-19 cancellations - Airbnb will pay their hosts 25% of what they would have normally received through their cancellation policy. This applies retroactively to all COVID-19 related cancellations from March 14 to May 31. Guests with reservations booked on or before March 14 will still be able to cancel and receive a standard refund or travel credit equivalent for 100% of what they paid.
- Creation of a $10 million Superhost Relief Fund - Designed for Superhosts who rent out their own home and need help paying their rent or mortgage, plus long-tenured experience hosts trying to make ends meet
- Creating ways for previous guests to send financial support directly to Hosts – Guests can directly send a note along with a contribution to any of the hosts who they’ve previously stayed with
- Airbnb has worked together to secure support for hosts in the US Government’s recent COVID-19 Stimulus Bill - This legislation now allows for US hosts to take advantage of many relief measures, including small business grants, small business loans, and unemployment assistance.