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Airbnb commits $250M to help hosts facing lost income

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Short-term rental service Airbnb has pledged $250 million to help hosts that are facing lost income due to the coronavirus.

The funding announcement comes as Airbnb offers flexibility to delete bookings without penalties amid travel bans and a surge of requests for cancellations.

The $250 million fund is slated be used to pay 25% of what hosts would normally receive from a canceled booking.

Read more from CNN.

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