If the host cancels the booking
The host does not approve bookings and cannot decline them, but they can cancel a booking they are unable to honour.
Cancelling releases the dates at once and they become free for others again. You receive a full refund to the card you paid with.
You are notified of the cancellation. If the host wrote a reason, it appears beside the booking on your bookings page.
After a cancellation the exact details of the place close again, because they are open only while a valid booking exists.
You can book the same listing for another time, if it is free, or open a chat with the host and ask.