The outbreak of the coronavirus has ground traveling to a halt. It has been especially tough for Airbnb hosts around the world. The company has adopted a free cancellation policy which has gained positive press but struck hard on the hosts.

Many owners had to deal with increased cancellations; some even had no reservations left. The more flexible Airbnb’s policy became, the bigger the loss was for the hosts.

To aid these hosts, the company has announced its $250 million plan to help aid the hosts. When it confirms that the cancellations were due to the coronavirus, Airbnb will pay a quarter of the usual billing to the hosts.

Prior to the company’s announcement, hosts were trying to rebrand their lodgings in a way that is more fit for these times. Some asked guests to exercise self-quarantine in style, while others touted the cleanliness of their rooms.

Yet even these creative efforts had its limits. Beachside lodgings that were always fully booked suddenly lost all its merits as city councils are closing down the beaches. Although the hosts fully support and understand those decisions, it still did not change the fact they faced serious financial blows.

Airbnb’s plan couldn’t come at a better time as local governments asked all lodgings to suspend operation to flatten the curve. Just in the United States, governors from Vermont to California have latched on to this policy.

This worrisome trend had rental hosts sitting in their tables with calculators. A recent survey by Airbnb found out that most hosts were already on a tight budget. 49% of the responders said they relied on short-term rentals to make their ends meet. 53% replied they needed the rental fees to keep their homes.

Airbnb CEO Brian Chesky said that the host relief fund was their way of acknowledging the hard times that the hosts are facing. In a business model where the relationship and cooperation between the company and hosts are so vital, Chesky hopes that this could amend the burnt bridges between the two.

In tandem with the host relief fund, Airbnb has also proposed an additional $10 million for its ‘superhosts’, who are the top-rated hosts. This money is to grant up to $5000 for those superhosts who need to pay their mortgage payments to continue their hosting efforts.

Do you think that Airbnb is doing enough to help its hosts? Share with us your thoughts and comments on this issue, and follow us on Facebook for more news life this one.

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