Tourists’ perceptions of various risks at their travel destinations have crucial implications for destination management organizations and other tourism industry practitioners, which is growing into an unprecedented concern in the post-pandemic era. The Internet has boosted the global homestay industry. The perceived risk of homestay tourists requires further attention from researchers to promote the sustainable development of the homestay industry, especially in the post-pandemic era. To supplement and enrich the literature, this study aims to explore the relationships between tourists’ perceived risk, three dimensions of tourists’ emotional solidarity with hosts (feeling welcome, sympathetic understanding, and emotional closeness), and their customer loyalty towards the homestay industry in the post-pandemic era by taking the homestay industry of Guangzhou, China as the context, and employing SmartPLS for the empirical analysis. The results indicate that perceived risk has a significantly negative impact on emotional solidarity and customer loyalty, while emotional solidarity has a significantly positive impact on customer loyalty and plays a partial mediating role in the relationship between perceived risk and customer loyalty. The theoretical contributions of the article and the practical implications of the findings for the sustainable development of the homestay industry are discussed.