Airbnb

EXECUTIVE SUMMARY

Airbnb joined the International Olympic Committee's TOP (The Olympic Partner) Programme in November 2019, becoming the 14th member of the elite global sponsorship tier. The nine-year partnership, valued at approximately $500 million, covers five Olympic and Paralympic Games: Tokyo 2020, Beijing 2022, Paris 2024, Milano Cortina 2026, and LA28.

The partnership positions Airbnb as the exclusive "Worldwide Unique Accommodations Partner," emphasizing sustainability, economic empowerment for hosts and local communities, and direct athlete support through travel grants and the Olympian Experiences program. To date, the IOC and Airbnb have allocated $40 million specifically for athlete support initiatives.

Key strategic objectives for Airbnb include: expanding host networks in Olympic host cities, driving brand awareness globally, differentiating from traditional hotel competitors, and potentially influencing regulatory environments in host markets. Industry analysts have characterized the partnership as delivering "one of the highest ROIs in sports sponsorship history" due to direct revenue generation during peak travel periods.

1. OLYMPIC HISTORY & MARKETING PRESENCE

1.1 Partnership Timeline & Evolution

Airbnb's relationship with the Olympic Movement predates the 2019 TOP partnership. The company served as a domestic sponsor for Rio 2016 (where Airbnb hosts provided accommodations equivalent to 257 hotels, generating $30 million in direct host revenue and $100 million in total economic activity) and PyeongChang 2018 (15,000 guests, $2.3 million in host earnings). These successful activations paved the way for the global partnership announcement on November 18, 2019.

Tokyo 2020 (Held 2021) - Launched Olympian and Paralympian Online Experiences during COVID postponement - Five-day virtual Olympic festival in July 2020 featuring 200+ athlete hosts - Partnership won Sport Industry Award "Deal of the Year" in November 2020 - Adapted to pandemic restrictions by pivoting to virtual experiences platform

Beijing 2022 - Continued athlete travel grant programs despite pandemic restrictions - Limited in-person activations due to COVID-19 protocols - Maintained Olympian Experiences platform for virtual engagement

Paris 2024

Paris 2024 represented the full post-pandemic activation of the partnership, featuring multiple high-profile campaigns:

• "Host the World" Campaign: Encouraged French homeowners to list properties, resulting in 40% more active listings in the Paris region vs. prior year
• Musée d'Orsay Icon Experience: Transformed the museum's iconic clock tower into a bedroom for competition winners during the Opening Ceremony
• "Get an Airbnb" Ad Campaign: Debuted June 2024, generated nearly 200 million U.S. impressions
• Athlete Experiences: Featured Tony Parker (basketball finals viewing), Paralympic athletes hosting stays at their homes
• Results: 500,000+ guests welcomed during Games; 5x nights booked vs. same period prior year

Milano Cortina 2026 (Upcoming)

Extensive activations already announced for the upcoming Winter Games:

• 26 Olympian/Paralympian Experiences: Launched November 18, 2025, priced at symbolic EUR 26 per person
• Featured Athletes: Jamie Anderson, Gus Kenworthy, Nathan Chen, Carolina Kostner, Felix Neureuther, Deborah Compagnoni, Arianna Fontana, and others
• Casa Airbnb: Fan destination in Milan offering free entry, Olympic viewing parties, curling experiences, and athlete appearances (February 7-22, 2026)
• Legacy Projects: Supporting Milan's Generazione Sport youth access program; sponsoring renovation of historic Maspes-Vigorelli Velodrome
• Sustainability: "Storyteller of Beauty" UNESCO World Heritage Volunteers initiative in the Dolomites

1.2 Airbnb Olympian Experiences Program

Central to the partnership is the Olympian Experiences program, which enables current and retired athletes to generate income by hosting experiences on the Airbnb platform. The program launched in early 2020 and pivoted to online experiences during the pandemic.

Program Elements: Training sessions with champions, city tours with elite athletes, wellness and recovery workshops, sport-specific instruction, exclusive event viewing access with legends.

Athlete Travel Grants: $8 million total over the partnership life, providing up to 500 athletes annually with $2,000 promotional credits for competition and training travel. Additionally, all Olympians and Paralympians who compete at each Games receive $500 Airbnb credit (Airbnb500 program). To date, 9,200+ athletes from 160+ countries have received the $500 grant, totaling over $4.6 million in credits.

2. LA28-SPECIFIC INITIATIVES

As Airbnb's headquarters city, Los Angeles represents a home-market opportunity for the company. The LA28 Games (July 14 - August 6, 2028) will culminate the nine-year partnership.

2.1 Announced Plans & Positioning

• Airbnb is one of the IOC TOP Partners with priority access to new venue naming rights opportunities being offered for LA28
• Partnership expected to emphasize community hosting programs in Greater Los Angeles region
• Sustainability messaging likely to focus on reduced need for new hotel construction and economic benefits to local neighborhoods
• Anticipated continuation of Olympian/Paralympian Experiences with California-based athletes

LA28 Venue & Operations Context: The Games will use 40+ competition venues across the LA metro area, with a dual-venue Opening Ceremony shared between the LA Memorial Coliseum and SoFi Stadium (announced May 2025). LA28 will be the first Games since 1948 built entirely on existing infrastructure. The dispersed venue footprint across the LA metro (from Long Beach to Pasadena to the San Fernando Valley) means accommodation demand will be spread across a wide geographic area, potentially benefiting Airbnb listings in neighborhoods near venues that lack sufficient hotel inventory. Soccer venues in six cities nationwide (New York, Columbus, Nashville, St. Louis, San Jose, San Diego) extend accommodation demand beyond LA. The Ticket Draw registration opened January 14, 2026 with tickets from $28; a Locals Presale runs April 2-6, 2026. The 50-state Olympic torch relay starting April 2028 will generate accommodation demand along the relay route nationwide.

2.2 Regulatory Context & Challenges

Los Angeles has maintained strict short-term rental regulations since 2019, including a 120-day annual rental limit for non-primary residences. Key considerations:

• City Council and housing advocacy groups have resisted creating Olympic-specific exemptions for Airbnb
• UNITE HERE Local 11 union has demanded a citywide moratorium on Airbnb as part of "New Deal for Our Future" campaign
• Analysts note that regulatory influence in host cities was a strategic objective of the IOC partnership, though results in Paris, Milan, and LA have been limited
• Nearby cities like Brea, CA are considering pilot programs to expand short-term rental capacity ahead of the Games
• Hotel supply constraints may ultimately favor expanded Airbnb availability despite regulatory headwinds

3. EXECUTIVE LEADERSHIP & DECISION-MAKERS

3.1 C-Suite Leadership

• Brian Chesky: Co-Founder and CEO (since 2008). Architect of Airbnb's in-housing strategy and brand-led marketing shift. Personally involved in IOC partnership negotiations and Olympic creative direction.
• Hiroki Asai: Chief Experience Officer (since June 2025). Former Apple creative leader (20+ years). Oversees all design, marketing, and communications. Drives in-house creative model for Olympic and brand campaigns.
• Rebecca Van Dyck: Chief Marketing Officer (since June 2025). Previously led global marketing at Facebook and held senior roles at Apple and Levi's.
• Dave Stephenson: Chief Business Officer (formerly CFO). Manages commercial partnerships including Olympic sponsorship operations.
• Ellie Mertz: Chief Financial Officer

3.2 Olympic Partnership Leadership

Aoife McArdle served as Global Head of the Olympic & Paralympic Partnership team at Airbnb. She initiated, led, and closed the landmark IOC partnership, overseeing vision, strategy, and operations for the nine-year deal. McArdle was previously General Counsel for Airbnb EMEA and a founding leader of Airbnb Experiences. She has since moved on but was instrumental in establishing the partnership structure.

3.3 Board Members with Relevant Experience

• Jeff Jordan: Managing Partner, Andreessen Horowitz; former Disney executive (8 years, including SVP/CFO Disney Store Worldwide)
• Amrita Ahuja: CFO/COO of Block; former CFO of Blizzard Entertainment (gaming/entertainment)
• Joe Gebbia (Co-Founder): Also on Tesla board; minority owner of San Antonio Spurs; donated to Kevin Durant Charity Foundation for basketball court renovations

4. AGENCY & CREATIVE PARTNERS

4.1 In-House Creative Model

Airbnb has pursued an aggressive in-housing strategy since 2020, bringing all advertising, design, and marketing creative in-house. This represents a fundamental shift from prior relationships with external agencies.

• Historical Agency Relationships: TBWA/Chiat/Day and Wieden+Kennedy previously handled creative work
• Current Model: All creative, strategy, design, and execution happen in-house with teams reporting to the CXO (Hiroki Asai)
• Marketing Philosophy: Shifted from performance marketing to brand-focused storytelling; "Tell, don't sell" approach
• Integration Advantage: Creatives work directly with product developers from initial concept stage; "inbound and outbound" methodology

4.2 Known Agency/Partner Relationships

• Activation/Sponsorship (Historical): GMR Marketing, Endeavor Global Marketing, and CSM's iLuka were among agencies that pitched for Olympic activation work during partnership negotiations
• Firewood Marketing: Digital marketing agency listed as historical Airbnb partner (global tech brand focus)
• CDA (Charles Direct Advertising): Full-service agency listed as Airbnb partner
• Pagefield: Communications consultancy for public affairs and corporate communications

4.3 Notable Creative Executions

• "Strangers" Campaign: In-house produced; increased host landing page traffic by nearly 40%
• "Airbnb It" Campaign: Positioned brand as verb; ran across social, digital, OLV in US, Canada, UK, France, Australia
• "Icons" Experiences: Pop culture activations including Barbie Dreamhouse, Disney-Pixar's Up house, Ferrari museum stay
• "Get an Airbnb" Paris Campaign: Debuted June 2024; ~200 million U.S. impressions; higher consumer sentiment than typical travel ads

5. COMPETITIVE POSITIONING

5.1 Market Share & Competitive Landscape

The global short-term rental market generated an estimated $183 billion in revenue in 2024. Airbnb has consolidated its position as the dominant platform.

Key Competitors and Their Sports Sponsorship Strategies: - Booking.com (Booking Holdings): Largest online travel platform globally by revenue (~$23 billion in 2024). Has sponsored UEFA Euro and other football properties but does not hold an Olympic partnership. Has invested in short-term rental listings to compete directly with Airbnb but lacks the host community narrative. - Vrbo (Expedia Group): Direct competitor in vacation rentals. No Olympic or comparable global sports sponsorship. - Traditional Hotel Chains (Marriott, Hilton, IHG): None hold Olympic accommodation partnerships. Hotel industry lobby groups (including UNITE HERE Local 11 in Los Angeles) have actively opposed Airbnb's Olympic association.

Airbnb has expanded its sports portfolio beyond the Olympics with a multi-tournament FIFA partnership announced for 2025-2027, covering the FIFA Club World Cup 2025, FIFA World Cup 2026, and FIFA Women's World Cup 2027. No competitor holds a comparable breadth of global sports sponsorships in the accommodation category.

Source: Skift Research, 2024; Airbnb corporate announcements

5.2 Olympic Sponsorship Differentiation

Among major accommodation providers, Airbnb is the only TOP Partner. This provides significant competitive advantages:

• Exclusive Category: No other short-term rental or alternative accommodation platform can use Olympic marks or associations
• Brand Association: Alignment with Olympic values of excellence, community, and global connection
• Direct Revenue Opportunity: Peak booking periods during Games (industry analysts cite "one of highest ROIs in sports sponsorship history")
• Supply Expansion: "Host the World" campaigns drive new host acquisition in Games markets
• FIFA Crossover: Airbnb's new FIFA partnerships create a year-round sports sponsorship portfolio that competitors cannot match

5.3 Key Brand Messaging

• Community & Belonging: "A world where anyone can belong anywhere"
• Economic Empowerment: Direct benefits to local hosts and communities
• Sustainability: Reduced construction needs, environmentally conscious alternative to hotels
• Local/Authentic Experience: "Live like a local" positioning vs. "touristy" hotel stays
• Athlete Support: Direct financial support programs unique among TOP sponsors

6. KEY METRICS & BUSINESS CONTEXT

6.1 Financial Performance

• FY2025 Revenue (twelve months ending September 30, 2025): $11.94 billion (10% YoY increase)
• Q3 2025 Revenue: $4.1 billion (10% YoY increase)
• Q3 2025 Net Income: $1.4 billion (34% net income margin)
• Q3 2025 Adjusted EBITDA: $2.1 billion (50% margin; highest quarter in company history)
• Q2 2025 Revenue: $3.1 billion (13% YoY increase)
• Q1 2025 Revenue: $2.3 billion (6% YoY increase)
• Market Capitalization: Approximately $76-80 billion (February 2026)
• Stock: ABNB (Nasdaq)

6.2 Olympic Period Performance

Specific Olympics-related metrics demonstrate the partnership's impact:

• Paris 2024: Nights booked during Olympic dates were 5x higher vs. same period prior year; 40% more active listings in Paris region; 10,000% increase in listing views ahead of Games
• Q1 2024: Company cited strong Olympic bookings for Paris and Euro Cup contributing to best Q1 ever
• Special Events Premium: CEO noted Airbnb is "uniquely positioned for special events" with capacity surge capability

6.3 Partnership ROI Assessment

Industry analysts have characterized the Airbnb Olympic partnership as delivering "one of the highest ROIs in sports sponsorship history." The assessment is based on:

• Direct Revenue: Unlike endemic sponsors (e.g., sports equipment), Airbnb directly benefits from accommodation demand during Games periods
• Supply Acquisition: "Host the World" campaigns generate hundreds of thousands of new hosts in Games markets
• Brand Awareness: Global broadcast exposure during world's most-watched sporting event
• Regulatory Positioning: Some analysts estimated regulatory influence in host cities could be worth $2B+ (though results have been mixed)
• Contrast with Other TOP Partners: McDonald's ended Olympic sponsorship in 2017; Toyota announced plans to exit after 2024. Both cited challenges with activation ROI and compressed timelines between Games.

APPENDIX: KEY SOURCES

Official Sources

• IOC Official Partner Page: olympics.com/ioc/partners/airbnb
• Airbnb Newsroom: news.airbnb.com
• Airbnb Investor Relations: investors.airbnb.com
• LA28 Official Partners: la28.org/en/our-partners.html

Industry Analysis

• Skift Research: Short-Term Rental Market Analysis
• Inside The Games: Olympic Sponsorship Coverage
• Sports Business Journal: IOC Partnership Reporting
• Marketing Week / Campaign US: Marketing Leadership Profiles

Financial Filings

• Airbnb Q4 2024 Earnings Report (February 2025)
• Airbnb Q3, Q2, Q1 2024 Financial Results
• MacroTrends ABNB Historical Revenue Data

End of Research Brief