The company will no longer offer refunds for cases where a guest or host becomes sick with COVID-19. Some reservations made before May 31 may still be eligible for a refund if they qualify under the company's policy.
The change was made in consultation with its medical advisers.
Some in the travel industry stopped this type of policy months ago, while others didn't.
In order to cover risks related to the novel coronaviruses, in the early days of the Pandemic,Airbnb extended its extenuating circumstances policy, allowing guests to cancel and receive a full refund as well as hosts to cancel upcoming reservations penalty-free. $250 million was committed by the company to help cover the cost of cancellation due to COVID-19.
The company's IPO filing in November 2020 showed a huge decline in revenue and job cuts in May 2020.
Cost cutting and a doubling down on experiences helped the company inch toward recovery. The company beat Wall Street estimates in the fourth quarter of 2016 and the year before. Nights and experiences bookings were down 8% from the prior quarter, which is no doubt whyAirbnb is eager to turn around.
Two-thirds of the world's population have received at least one dose of a vaccine. Many countries have implemented living with COVID-19 plans as it becomes part of our world, the company wrote in the post published today.
Spurred by economic and political pressures, some companies and policymakers have called for a return to normal. The U.S. Transportation Security Administration's mask rules were struck down by a federal judge in Florida. A Princess Cruise Lines ship docked in San Francisco this week with more than 100 cases of chronic bronchitis.
When asked if they had anything to share beyond the post, a spokesman for the company said they didn't.
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