Airbnb's Rural Expansion: Riding the Tour de France
Airbnb's partnership with the Tour de France aims to enhance its rural business in France amidst declining U.S. demand. The strategy builds on Paris Olympics success, with a focus on promoting rentals along the race route. This is part of a broader expansion plan despite challenges from local restrictions.
Airbnb announced on Thursday a new collaboration with the Tour de France, aiming to boost its rental business across rural regions of France. This move is part of Airbnb's strategy to capitalize on the success of last year's Paris Olympics and counteract declining demand in its primary U.S. market.
The three-year agreement with the prestigious cycling event involves promoting rental properties along the 3,339-kilometer race route, as well as offering related experiences. These include cycling tours with former professional cyclists, part of Airbnb's global expansion efforts. This initiative follows the platform's achievement of 700,000 bookings during the recent Olympic Games.
Despite maintaining 120,000 listings from the previous year in Paris, Airbnb aims to expand in less populated areas of France. This push comes amid rising restrictions in cities like Biarritz, correlating with increasing property prices. Airbnb CEO Brian Chesky revealed that further brand partnerships could emerge, particularly in the luxury sector.
(With inputs from agencies.)
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