Airbnb posted an article titled, “It’s a good time to update your listing with these tips” about hosting local and extended stays and some warning about accuracy within the listing. You can read the full article here.
Eric Moeller summarizes the guidelines below:
DO: Revise your listing title to mention that your space is great for a staycation, as a work-from-home alternative, or for families.
DON’T: Promote your space as “COVID-free” or “quarantine-friendly.” In fact, we’re requiring that hosts remove any mention of “COVID-19,” “the coronavirus,” or “quarantine” in their listing title.
DO: Highlight your enhanced cleaning routine in your listing description. While we won’t allow you to claim that your listing is coronavirus-free, you can share details about your cleaning methods. (Example: “Due to the coronavirus, we’re taking extra care to disinfect frequently touched surfaces between reservations.”)
DON’T: Use shortages of hand sanitizer, toilet paper, and other essentials as a way to entice guests. (Example: “Escape the coronavirus! Plenty of toilet paper here!”)
As the travel and hospitality industry is one of the biggest sectors hurt by COVID-19, it comes as no surprise to learn that Airbnb has suspended all of its marketing in an attempt to save $800 million this year.
Airbnb’s founders will also not take a salary for the next six months, and top executives will take a 50 percent pay cut, according to Reuters. The company has paused hiring as well, with the exception of a few key roles. (Read the full article here).
Airbnb announced plans to go public last September, reporting over $1 billion in revenue for Q2 2019. Airbnb’s losses nearly doubled in Q4 last year, before the pandemic became a global issue, according to Bloomberg.
Image: Yahoo Finance
On the afternoon of March 30th, the CEO of Airbnb, Brian Chesky, conducted a live stream for the hosting community. Here is a summary of what Brian said:
- Travel is at an all-time low
- Recognition and apology that Airbnb has drifted from the host-focus it was created on
- COVID-19 cancellation policy was set for the sake of public health. He apologizes for not consulting hosts (violation of partnership)
Actions going forward:
- Extenuating circumstance policy – established a $250 million fund to pay hosts 25% of canceled booking. Retroactive to March 14. Cancellations before March 14 will be based on host cancellation policy
- Establishment of $5000 grants for Superhosts and Experience Leaders up to a total of $10 million coming early April
- Previous guests will be able to send messages and donations directly to hosts. Expected effective date: early April
- For USA hosts only: COVID-19 stimulus bill allows Airbnb hosts to be eligible for SBA loans and grants, as well as unemployment benefits
You can view the message and read the details here.