For the highest bidder they will hold the games anywhere. The Olympics are just a scam for the uber rich to make money off of unpaid athletes hoping for stardom.
I partially agree, the Olympics overall have become incredibly commercial and care more about profit than anything else. But I disagree on two points. First, for some sports (swimming, diving, track and field/athletics to name a few), the Olympics are really their "spotlight" event and are important to the athletes - sure there are worlds every year but it's the only time they really get good media coverage. Second, the Olympics haven't "belonged" solely to unpaid athletes in a long time now. I can't remember exactly when the IOC first started allowing it except it was sometime after 1984, but most if not all sports allow professionals to compete in the Olympics. Some of whom are making 10s of millions each year.