Airbnb is an online marketplace that connects people who want to rent out their homes with people who are looking for accommodations in that locale. It currently covers more than 81,000 cities and 191 countries worldwide. The company’s name comes from “air mattress B&B.”
For hosts, participating in Airbnb is way to earn money from their property, but with the risk that the guest might do damage to it. For guests, the advantage can be relatively inexpensive accommodations, but with the risk that the property won’t be as appealing as the listing made it seem.
• Travelers can often book an Airbnb for less than the cost of a hotel room.
• The main risk to the traveler is that the property may not live up to its listing.
• The main risk to hosts is that guests might do serious damage to their property.
• The global pandemic due to the novel coronavirus has resulted in significant changes to Airbnb’s extenuating circumstances cancellation policy.