. So, hosts were forced to bear the vast majority of the cost of the policy change the company made. And Airbnb made the change without consulting them first. . In an open letter to hosts and in a video message, he apologized for the lack of consultation, and announced four steps the company was taking or had taken to help them. The company set up a $250 million fund to reimburse hosts for some of their booking revenue lost due to coronavirus cancellations.
So, if a host's policies would have allowed her to keep 50% of the booking revenue because of the timing of the cancellation, Airbnb will reimburse her a quarter of that 50% — or just 12.5% of the total booking amount. That extension is likely to trigger a whole new round of cancellations that, again, will largely come at property managers' expense, Misner said. Airbnb's announcements of the reimbursement and superhost funds seemed like a way to distract attention from that extension, Gilligan said.
Airbnb's decision to limit the $10 million fund to superhosts "sucks" said Dorsey, who makes about 80% of his income from his Airbnb listings and has helped other property managers get set up on the system. "We work really hard at Airbnb."
Lol they were fine with it when AirBnb was screwing over entire communities. I'm glad AirBnb is screwing them over too. Those investment-bros should go get a real job if they aren't happy with AirBnb exploiting them for free hotel inventory
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Source: BusinessInsider - 🏆 729. / 51 Read more »