Airbnb said it will funnel $250 million toward helping its hosts cover costs related to Covid-19 cancellations.

The company created the fund to help hosts after allowing customers to cancel and receive full refunds. They can get their money back for bookings made between March 14 and May 31.

In a letter to hosts, Airbnb CEO Brian Chesky said, “While I believe we did the right thing in prioritizing health and safety, I’m sorry that we communicated this decision to guests without consulting you -- like partners should. We have heard from you and we know we could have been better partners.”

Under Airbnb’s $250 million aid initiative, the company will pay hosts 25% of what they would have normally received on any coronavirus-related cancellations. Payments to hosts were due to begin April 1. 

Airbnb has also established a $10 million Superhost Relief Fund for the company’s top-rated and most experienced hosts. Airbnb co-founders Brian Chesky, Joe Gebbia and Nathan Blecharczyk contributed $9 million to the Superhost fund, with Airbnb employees donating the remaining $1 million.

Under the Superhost Relief Fund program, Airbnb Superhosts can apply for grants for up to $5,000 that don’t need to be paid back.

According to Airbnb, hosts will also be eligible to apply for small-business grants, small-business loans and unemployment assistance from the federal government.

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