Airbnb wants to replace hotels at the Olympics

Airbnb and the International Olympic Committee announced a new partnership Monday that will expand the availability of housing in host cities and could reel...

Posted: Nov 18, 2019 10:08 AM
Updated: Nov 18, 2019 10:45 AM

Airbnb and the International Olympic Committee announced a new partnership Monday that will expand the availability of housing in host cities and could reel in the ballooning costs of hosting the sport spectacle.

The deal is 'economically empowering, socially inclusive and environmentally sustainable,' the IOC and Airbnb said in a joint statement.

The deal means that some Airbnb housing will be made available for visitors and workers. The new housing options could reduce the need to build new hotels. The IOC confirmed to CNN Business that the Olympic Village, where competing athletes stay, won't be replaced with Airbnb housing.

Olympic host cities have to plan, pay for and construct massive infrastructure projects that costs billions of dollars — much of it with taxpayer money. Thousands of hotel rooms must be built to house athletes and tourists. Once the event is over, cities complain about the infrastructure that goes unused. And the promised economic returns rarely come to fruition.

The deal begins at next year's summer games in Tokyo and covers five summer and winter games through 2028 in some of the world's top tourist cities, including Paris, Milan and Los Angeles. Financial terms weren't disclosed.

Airbnb also becomes a global partner, meaning the brand will be featured along with the world's top most recognizable including Visa, Coca-Cola and Alibaba. The visibility will give Airbnb a boost ahead of its upcoming IPO that could happen in 2020.

The move could also help polish Airbnb's image. Several cities around the world have been battling the short-term housing company for 'overtourism,' i.e. the number of tourists outnumber the amount of locals and make living unaffordable.

For example, Barcelona approved new regulations that would curb hotel construction in the downtown area and put a cap on private home rentals in 2017. Other cities, like Amsterdam, London, Paris and Jersey City, have followed. Airbnb has fought back and imposed rental limits and said it has worked with local governments on new home-sharing rules.

The company has introduced a program called 'One Host, One Home' to stop individuals from listing and promoting multiple properties on the platform in some cities.

New York Coronavirus Cases

County data is updated nightly.

Cases: 2110004

Reported Deaths: 53574
CountyCasesDeaths
Kings28059410456
Queens2773009958
Suffolk2010363400
Nassau1836493175
Bronx1835056589
New York1382724500
Westchester1296642291
Erie895791807
Richmond749771841
Monroe689761110
Orange48312843
Rockland46944963
Onondaga38931677
Dutchess29472445
Albany24699356
Oneida22619514
Niagara20035373
Broome18623366
Saratoga15364168
Ulster13908257
Schenectady13202205
Rensselaer11229142
Putnam1060692
Chautauqua8951145
Chemung7761136
Oswego762292
Ontario740693
Steuben6952145
Sullivan667376
St. Lawrence664096
Cayuga633792
Jefferson613668
Wayne578370
Cattaraugus572091
Genesee5435124
Herkimer5187109
Clinton483533
Madison456289
Livingston452060
Fulton442291
Tompkins434652
Montgomery4254126
Columbia4064104
Cortland392662
Tioga383063
Warren365857
Wyoming358253
Allegany355587
Chenango349976
Otsego346247
Greene340379
Washington316255
Orleans311883
Lewis280836
Franklin256312
Delaware238138
Seneca201156
Schoharie169217
Essex159326
Yates117826
Schuyler107514
Hamilton3132
Unassigned9315
Out of NY0250
Utica
Clear
49° wxIcon
Hi: 64° Lo: 45°
Feels Like: 49°
Oneonta
Clear
52° wxIcon
Hi: 64° Lo: 44°
Feels Like: 52°
Herkimer
Clear
49° wxIcon
Hi: 67° Lo: 48°
Feels Like: 49°
Old Forge
Partly Cloudy
49° wxIcon
Hi: 62° Lo: 44°
Feels Like: 49°
WKTV Radar
WKTV Temperatures
WKTV Severe Weather
Senior Send-Off brought to you by Herkimer College
18 Facets of Summer Photo Contest brought to you by Herkimer Diamond Mines
Looking for work or looking to hire? Check out the WKTV Job Fair!
Alivana Ready for Summer Giveaway
Saluting Those Who Are Proud 2 Serve