Airbnb commits $500 million to fund crisis housing via revenue donation
1 report, 1 independent
Updated Oct 1
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What happened
Airbnb announced a new funding model where it will donate $0.10 of revenue from every stay to Airbnb.org. This commitment is projected to provide $500 million to Airbnb.org over the next five years. The funds will support free housing for people in crisis, including families needing medical care, domestic violence survivors, and veterans in the United States.
From travelweekly.com.au
Why it matters
The new funding model changes how Airbnb generates revenue for its non-profit arm, Airbnb.org. While guests supported by the non-profit stay for free, hosts are still paid for the stay. Hosts also have the option to donate earnings or offer discounted stays to support the non-profit.
From travelweekly.com.au
Who's involved
- AirbnbAmerican online platform for rental accommodations
- Brian CheskyCo-founder and CEO of Airbnb
- American ExpressMultinational financial services corporation that partners with Airbnb
- Joe GebbiaCo-founder and Chief Design Officer of Airbnb
- PatrickFormer Vice President at Airbnb
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The entities involved
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Airbnb
American online platform for rental accommodations