Home sharing company Airbnb Inc. said it will give $250 million to hosts on its platform who have lost money from coronavirus-related cancellations at their properties.
The startup, whose plans to go public this year have been thrown into question, has alternately faced criticism from guests and hosts over its refund policies related to the global pandemic.
Airbnb initially resisted refunding U.S. guests over coronavirus-related cancelations, relenting only after the World Health Organization declared the outbreak a global pandemic on March 11. A few days later, Airbnb said travelers in the U.S. could receive refunds. The decision eased criticism from consumers but was bad news for hosts, many of whom were already worried about their future lost earnings.