VI
EN
Amidst the complex and global impact of the Covid-19 pandemic, the tourism industry suffered heavy losses, and the travel community exerted significant pressure, demanding that Airbnb expand its cancellation policy. Accordingly, Airbnb introduced a new policy applicable to all travelers worldwide who booked accommodations "on or before March 14, 2020, with check-in dates between March 14 and April 14, 2020".
Currently, airlines and hotels have issued waivers and adjusted cancellation policies so that most customers can cancel their trips in mid-spring.
Part of the reason Airbnb was slow to announce the new policy is due to how the company generates revenue. Compared to traditional travel providers, the majority of revenue from Airbnb bookings goes to the hosts, not Airbnb. Therefore, a global cancellation policy would directly impact the income of the host community.
Currently, Airbnb has over 7 million rental properties listed in more than 100,000 cities worldwide.
Airbnb says it will offer solutions to support hosts during the current difficult times.
