Airbnb introduces new cancellation policy worth $250 million amid COVID-19 crisis

Airbnb on March 30 anunced that it is putting aside $250 million for hosts who h to bear sudden cancellations because of coronavirus lockdown. According to a statement released by company, reservations eligible for new 25 refund policy are accommodations that were booked on or before March 14 with check-in between March 14 and May 31, 2020. Meanwhile, guests will be able to avail full refund in cancellations related to COVID-19. 

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"Airbnb will pay 25% of what you would’ve received for a cancellation based on your cancellation policy. For example, if you would rmally receive $400 USD through your cancellation policy, we'll pay you 25% of that—or $100 USD. We'll send an email with more details in early April to hosts who are getting a payout. Future payments from fund will be me on a monthly basis to hosts with qualifying cancellations.," statement re.

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Airbnb furr asked its customers and hosts to revisit reservations booked on or before March 14 with check-in after May 31 and choose to eir cancel or re-commit to reservation as uncertainty regarding free travel still looms large. Airbnb informed that March 14 was chosen as cut off date because World Health Organisation (WHO) declared coronavirus a global pandemic on same day. 

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Coronavirus outbreak

COVID-19 has claimed more than 37,800 lives across world and has infected more than 7,85,800 people globally since it first broke out in December 2019. China was most affected country until last week before Italy and Spain surpassed it to record most number of deaths anywhere in world due to COVID-19. United States and France are on verge of overtaking China in terms of number of deaths recorded in se countries. virus is believed to have originated from a seafood market in China's Wuhan city, epicentre of disease, where animals were reportedly being tred illegally.

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(Im credit: AP)