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Airbnb sets up $250 million fund to cover cancellations

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Airbnb said Monday it will pay $250 million to its hosts to cover coronavirus-related cancellations for check-ins during the 11 weeks after March 14. Hosts will receive 25% of what their ordinary cancellation policy called for. Another $10 million fund, 90% of it from cofounders Brian Chesky, Joe Gebbia and Nate Blecharczyk, will give grants to superhosts and long-tenured experience hosts to help pay their rent or mortgage. The company will also set up a way for guests to contribute to hosts they’ve stayed with.

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