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Airbnb Allocates €227M to Landlords for the Cancelation of Reservations due to Coronavirus

The company, which specialises in the rental of tourist accommodation, has also created a fund amounting to €9 million to support the platform's best-rated owners.

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Airbnb, the world’s largest platform for tourists, has announced that it will allocate USD 250 million (€227 million) to help hosts affected by the cancellation of reservations due to the coronavirus pandemic.

That figure reflects the magnitude of the impact that the global Covid-19 crisis is having on the tourism sector, which the platform is suffering from acutely. Airbnb will pay hosts 25% of what they would have received for bookings between the period from 14 March until 31 May but which have been cancelled, according to the CEO and co-founder of the firm, Brian Chesky, in a statement.

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