Tokyo — Travel rental site Airbnb said on Thursday that it had been forced by Japanese authorities to cancel thousands of reservations ahead of a new law regulating short-term rentals, apologising for the "extraordinary disruption." "This stinks — and that’s an understatement," Airbnb said in a statement, adding it would fully refund canceled reservations and was also creating a $10m fund to compensate affected travelers. The popular holiday rental site had already suspended the listings of owners who had not obtained a registration number required under the law that comes into force on June 15. But on Thursday it said Japan’s government had required it to cancel all reservations with hosts that have not yet registered, even if they were in the process of seeking a licence. "This is understandably frustrating, especially since many hosts are close to acquiring their licence," the statement said. "It’s particularly disruptive for guests who have a trip to Japan planned for the weeks ...
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