Airbnb: Compensation for owners who have had reservations cancelled


Airbnb will provide $ 250 million in assistance to its partners the property owners.

The largest distribution company in the world, intends to compensate the owners for the reservations that were cancelled in their accommodation due to coronavirus.The company will pay 25% of the value of each cancelled reservation.


Prerequisite for granting emergency assistance is that the reservation be made until March 14, with the arrival of the visitor between March 14 and May 31.
More details are expected to be given to hosts in the coming days via email.

The company has announced that payments of compensation from Airbnb to the owners will be made every month. That is, one payment at the end of April and another at the end of May.
However, what has not been clarified is whether it will concern all the markets where the company operates.

Many owners choose to return to long-term rental rental housing due to the crisis, which is expected to reduce rents.

“Greece has reached a critical juncture, moving towards market saturation. We expect many owners to return to long-term leases after the summer,” Themistoklis Bakas, president of the Panhellenic Network of Real Estate Networks, told Nea.

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