Hospitality company Airbnb is to establish its European headquarters in Dublin.
Airbnb describes itself as a "community marketplace" where people can list and find places to stay while travelling.
In a blog post on the firm’s website, CEO Brian Chesky said the company would establish a Hospitality Innovation Lab and a European Customer Experience team in the city.
"Dublin has hospitality in its DNA. Dublin is known the world over for its warm welcome. The city has a reputation for being one of the most hospitable and friendliest places in the world," said Mr Chesky in his post.
"Dublin is also an emerging technology epicentre in Europe, and one of its most international cities, with nearly every language represented."
It is understood that around 100 jobs could be created as a result of the announcement.
The decision has been welcomed by IDA Ireland.
IDA CEO Barry O'Leary said: "Airbnb is a highly successful company bringing fresh, innovative ideas to the travel market and the broader digital economy.
"The company has already become a powerful brand globally, and it is great news to see Ireland now getting a chance to share in the company's success and future development."
Airbnb was established in California in 2008 and currently boasts over 300,000 listings in 192 countries.
A number of job listings for the company's Dublin office are already being advertised on the company's website.