IOC: Airbnb (accomodation rental) becomes a TOP partner (first level) until 2028 ($500m/€452m)

Airbnb, an accommodation rental service for individuals, has become a "Worldwide Olympic Partner" and "TOP" partner (first level) of the IOC until 2028, announced the International Olympic Committee on 18/11/2019. The partnership, which covers five editions of the Games over nine years, is valued at $500m (€452m as of 18/11/2019) according to The Financial Times. "Airbnb becomes the Worldwide Olympic Partner in the exclusive category of 'unique accommodation products and unique experiences services'," added the IOC.

"The partnership is designed to create a new standard for hosting that will be a win for host cities, a win for spectators and fans, and a win for athletes. The agreement includes accommodation provisions that will reduce costs for Olympic Games organisers and stakeholders, minimise the need for construction of new accommodation infrastructure for the Olympic Games period, and generate direct revenue for local hosts and communities. Working together with the International Paralympic Committee (IPC), Airbnb will also promote accommodation that supports accessibility for…