Airbnb has signed a sponsorship deal reportedly worth $500 million with the International Olympic Committee (IOC) ahead of its planned IPO in 2020, according to Forbes.

At a launch event at Japan House in London, IOC president Thomas Bach said Airbnb would commit to providing “guaranteed” accommodation over the next nine years in the host countries of upcoming Olympic events—Tokyo 2020, Beijing 2022, Paris 2024, Milan 2026, Los Angeles 2028.

“It’s never been done at the Olympics before,” said Airbnb cofounder and CPO Joe Gebbia.

The value of the deal was not disclosed at the event, but the Financial Times reported it to be worth around $500 million, according to unnamed sources briefed on the deal.