I understand that airlines have to pay compensation when a flight is delayed by more than 2 hours
You are about the millionth person to have got this wrong (where is this misinformation coming from?)
Airlines are required to compensate passengers denied boarding due to overbooking, and passengers whose flight is cancelled for reasons outside the airline's control.
In the case of long delays (whatever the reason), they are obliged to provide refreshments, then meals and eventually accommodation.
Look up the rules - it's not difficult. I can't be bothered to.