AIRBNB is set to be officially unveiled as a new multi-million-dollar global sponsor of the International Olympic Committee (IOC) next week.
The online marketing site for private accommodation is expected to formally announce its new partnership at a press conference in London on Monday (November 18) in a deal that will run through until the end of Los Angeles 2028.
According to Sport Business Journal, AIRBNB’S deal will mostly focus on its growing “experiences” line, including single-day tours, classes, workshops, guided walks, and other kinds of events consumers might typically book through a tour guide company
It is not intended to infringe on the traditional large-scale, business-to-luxury class hotel and hospitality business that Olympic organisers require to stage the biennial Games.
The San Francisco-based company, founded in 2008, would join 13 other top-tier Olympic sponsors including COCA-COLA, SAMSUNG, VISA, P&G and PANASONIC.
Under a deal signed last year, AIRBNB will also become a worldwide partner of the International Paralympic Committee.
This latest announcement will be seen as another major marketing coup for IOC President THOMAS BACH.
In June, COCA-COLA announced it would take its sponsorship of the Olympic Movement into an unprecedented second century under a restructured deal that will see it share ownership of the worldwide beverage category with a Chinese dairy producer, China MENGNIU DAIRY COMPANY.
Other members of the IOC worldwide sponsorship programme include ALIBABA, ATOS, BRIDGESTONE, DOW and GE.
INTEL, OMEGA and TOYOTA complete the list.
AIRBNB had already targeted Tokyo 2020 as an opportunity to help it expand worldwide.
Airbnb chief executive BRIAN CHESKY told Japanese newspaper Nikkei before news of the partnership emerged that the Olympics could “really help put Airbnb on the map” in Japan.
AIRBNB’S first involvement with the Olympic Games was at Rio 2016 where they were the Official Alternative Accommodation Service provider – they also worked with PYEONGCHANG 2018
This new deal extends AIRBNB’S involvement with the Olympic Games that started at Rio 2016 when they were the “Official Alternative Accommodation Service” provider.
A total of 48,000 AIRBNB listings housed 85,000 of the city’s estimated half-a-million visitors during the Olympics, according to the company.
AIRBNB were also involved with last year’s Winter Olympic Games.
They worked with the local community to provide accommodation options for visitors to the county located 180 kilometres east of Seoul.
AIRBNB is currently preparing for a multi-billion-dollar public listing next year.
It is estimated that AIRBNB, which has approximately seven million listings in almost every country in the world and 150 million global users, could reportedly be worth as much as $42 billion (£33 billion/€38 billion).
AIRBNB reportedly made more than $1 billion (£777 million/€907 million) in revenue in the second quarter and generated profits in both 2017 and 2018, before including interest, taxes, and depreciation and amortisation expenses.
It is also has $3.5 billion (£2.7 billion/€3.2 billion) in cash in the bank, according to The Financial Times.
