Airbnb pledges $250m to hosts hurt by refunds

Business

Airbnb travel hosts are getting financial help due to the company's coronavirus refund policy.

(CNN) — Airbnb is lending a helping hand to its travel hosts.

Due to the coronavirus the company allowed customers to cancel reservations without charge.

While customers enjoyed the move, travel hosts were upset saying they were losing money as a result.

CEO Brian Chesky unveiled four areas of relief during a conference call with more than 6,000 participants Monday.

He pledged $250-million in order to offset the refunds.

In addition to that a ten-million “super hosts” relief fund is set up to offer grants to hosts in financial straits with rent or mortgage.

Airbnb will also facilitate donations from guests interested in supporting hosts and US hosts will also be eligible for help under the COVID-19 relief legislation recently signed by president trump.

During the 15-minute video message, Chesky apologized to travel hosts for not consulting with them.

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