Update: On November 18th, Airbnb confirmed in a press release that the home-sharing platform would be partnering with the Olympics. The nine-year deal will include both Airbnb Experiences and home-sharing. The Financial Times reported that the deal was worth $500 million.
Airbnb is planning to enter into a global sponsorship deal with the International Olympic Committee, according to sources speaking with Sports Business Daily.
The sponsorship is expected to run through the 2028 Olympic Games in Los Angeles, Sports Business Daily reported. While financial details were not disclosed, the deal could potentially go into the tens of millions of dollars.
Reached by text message on Tuesday night, an Airbnb representative declined to comment.
This wouldn’t be the first time Airbnb partnered with a sporting organization. In 2018, the home-sharing service teamed up with the World Surf League, introducing more than 75 surfing-related Airbnb Experiences across its platform.
The partnership with the Olympics would similarly center on Airbnb’s Experiences, according to SBD. It’s an offering the home-sharing service continues to expand, most recently with investments in the esoteric travel site Atlas Obscura and Tiqets, a European ticket purchasing startup that works mostly with museums and local attractions.
Traditionally, the IOC has worked with luxury hotels to stage the Games, and this deal is not intended to “infringe on the traditional … hospitality business that Olympics require,” according to SBD.