Airbnb, IOC Make Multi-Games Global Sponsorship Deal Official
Airbnb officially announced a new global Olympic sponsorship through the '28 L.A. Games at an event in London today, confirming THE DAILY's exclusive report from Nov. 5. The home-sharing platform will get a newly created category: "Unique Accommodation Products and Unique Experiences Services." British reporters pegged the deal at nine years, $500M (a little over $55M per year), roughly in line with recent Olympic sponsor deals that go for $50M annually or more. Airbnb and the IOC will launch "Airbnb Olympian Experiences," unique encounters that would pair users and Olympic athletes for programs such as training with an Olympian or exploring a city with athletes. The IOC said the initiative will create new, direct revenue streams for participating athletes. Airbnb launched its "experiences" line in '16. The accommodations side of the deal is not intended to replace traditional hotels, and local organizing committees will continue to be permitted to do those sponsorships. Airbnb can now officially market its private homes available to rent in Olympic cities, which have already been used routinely by Olympic visitors, business people and athletes.