Airbnb refunded $1 billion in bookings this one year

As Airbnb plans to receive its stock market debut, the results of the pandemic on its industry are coming into focus.

In its S-1 regulatory submitting, the dwelling-rental massive published that it has issued extra than $1 billion in refunds at some stage within the pandemic, under its policy for extenuating circumstances.

“While this helped our guests, it created concerns for our hosts—half of whom rely on their Airbnb profits to pay their rent or mortgage,” the submitting notes. (Essentially basically based on the San Francisco-basically basically based firm, extra than 55% of Airbnb hosts are ladies, and the average annual Airbnb earnings per host with at the least one take a look at-in used to be $7,900 within the 12 months ended Sept. 30.)

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