Welcome to our dedicated page for Sabre Corporation news (Ticker: SABR), a resource for investors and traders seeking the latest updates and insights on Sabre Corporation stock.
Sabre Corporation (NASDAQ: SABR) is a leading software and technology provider dedicated to the global travel industry, boasting nearly US$8 trillion in industry reach. Sabre’s comprehensive suite of technology solutions empowers airlines, hotels, travel agencies, and various travel suppliers to grow their businesses and innovate the traveler experience. The company's open and stable platform ensures flexibility, reliability, and scalability for clients, making Sabre an industry powerhouse.
Headquartered in Southlake, Texas, Sabre is committed to transforming the travel ecosystem through advanced technology. Their services include data-driven business intelligence, mobile solutions, distribution channels, and software as a service (SaaS) offerings. Over the years, Sabre has pioneered several industry-changing technologies such as online travel agencies, corporate booking tools, revenue management systems, and web and mobile itinerary tools.
Sabre's business is structured into two primary segments: Travel Solutions and Hospitality Solutions. The Travel Solutions segment, which accounted for 91% of total 2023 revenue, encompasses distribution (78% of segment sales) and airline IT solutions (22%). Meanwhile, the Hospitality Solutions segment, although smaller, is rapidly growing and represented 9% of the 2023 revenue. Sabre's marketplace transacts more than a billion travel-related transactions annually, holding the second-largest air booking volume share in the global distribution system industry.
Recent achievements for Sabre include strategic agreements and partnerships to extend their technological offerings. For instance, Sabre recently signed a multi-year agreement with Air Serbia, enhancing the airline's revenue management with Sabre's Pricing and Revenue Optimization suite. The company also made significant strides in financial restructuring, such as the exchange of $150 million in 4.000% exchangeable senior notes due 2025 for new 2026 notes, thereby optimizing its debt profile.
Sabre's ongoing projects reflect its focus on innovative solutions. The introduction of SabreMosaic™, a new intelligent, modular, and open technology platform, aims to transform airline retailing by adopting a modern Offer and Order approach. This platform, powered by Google Cloud's AI capabilities, facilitates dynamic and personalized content delivery to travelers, enhancing revenue opportunities for airlines.
Sabre's consistent efforts in technological advancements and strategic partnerships ensure its prominent position in the travel technology sector and its commitment to revolutionizing the travel experience for consumers worldwide.
Sabre Corporation (NASDAQ: SABR) has declared a dividend of $1.625 per share on its 6.50% Series A Mandatory Convertible Preferred Stock. This dividend is scheduled for payment on June 1, 2022, to stockholders of record as of the close of business on May 15, 2022. Sabre is a leading technology company in the global travel industry, providing solutions to airlines, hoteliers, and travel agencies, managing over $260B in global travel spend annually.
Sabre Corporation (NASDAQ: SABR) released its financial results for Q1 2022, highlighting its ongoing role in powering the global travel industry. Sabre's technology platform handles over $260B in global travel spend annually. The company has made its earnings release and investor information accessible via its Investor Relations website. A live webcast of the earnings call is scheduled for today at 9:00 a.m. ET, discussing financial results and future outlook.
Virgin Australia has chosen Sabre Revenue Optimizer to enhance its pricing strategy using real-time data analytics. This new technology will allow the airline to adapt to the evolving travel landscape post-pandemic, leveraging intelligent decision support for revenue optimization. The airline aims to break down data silos and improve forecasting and competitive intelligence, facilitating a more customer-centric approach. Additionally, the strong recovery in bookings following the reopening of Australia’s borders highlights the potential for increased revenue opportunities for both Virgin Australia and Sabre.
Sabre Corporation (SABR) announced plans to webcast its 2022 Annual Meeting of Stockholders on April 27, 2022, at 10:30 a.m. ET, accessible via its investor relations website. Additionally, it will host a first-quarter 2022 earnings conference call on May 3, 2022, at 9:00 a.m. ET, where management will discuss financial results and future outlook. Sabre is a prominent software and technology company in the travel industry, managing over $260 billion in global travel spend annually.
Sabre Corporation (NASDAQ: SABR) announced a partnership with Bear Luxe Japan on April 11, 2022, to enhance connectivity between luxury hotels in Japan and global markets. This agreement aims to facilitate international access to Japanese luxury accommodations and improve personalized travel experiences for luxury travelers. Bear Luxe Japan's hoteliers will use Sabre's SynXis platform for enhanced bookings and market reach, targeting both leisure and corporate travelers. This strategic collaboration is expected to bridge market gaps and drive growth in Japan's luxury travel sector.
On April 5, 2022, Sabre Corporation (NASDAQ: SABR) announced a partnership with eRoam Travel Technology to enhance leisure travel solutions for agencies. This collaboration integrates eRoam's AI-enabled platform into Sabre's Developer Partner Network, enabling travel agencies to create tailor-made packages efficiently. The new solution aims to boost agency revenue by offering personalized travel options. Sabre emphasizes its commitment to support recovery in the travel industry by providing innovative tools for agencies to maximize business opportunities.
On March 9, 2022, Sabre Corporation (Nasdaq: SABR) announced a refinancing of $625 million in existing debt through a new term loan B facility. This move extends the maturity of around $623 million of previous loans to June 30, 2028, improving the company’s debt maturity profile without increasing overall indebtedness. The new facility is secured by a first-priority interest in the company's assets, replacing LIBOR with Term SOFR for interest calculations. This refinancing aims to enhance Sabre’s financial flexibility and operational efficiency.
Sabre Corporation (NASDAQ: SABR) announced that Sean Menke will become Chair of the Board effective April 28, 2022, succeeding Karl Peterson. Menke, currently CEO, will focus on strategic plans after appointing Kurt Ekert as President. The Board has also elected Gregg Saretsky as independent Lead Director. Peterson commended Menke's leadership during a period of transformation and emphasized the strong independent oversight with the new governance structure. Long-standing board member Gary Kusin will retire, effective before the Annual Meeting, having served since 2007.
On March 3, 2022, Sabre Corporation announced the termination of its distribution agreement with Aeroflot, Russia's largest carrier. This decision follows the ongoing crisis in Ukraine, with Sabre emphasizing compliance with sanctions against Russia. The company plans to remove Aeroflot's flight content from its global distribution system (GDS). Additionally, Sabre has donated $1 million to the Polish Red Cross to support humanitarian efforts in the region. This move underscores Sabre's focus on safety and legal compliance amid evolving geopolitical tensions.
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