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 has appointed Kurt Ekert as President, effective January 3, 2022, as part of its strategy to enhance leadership roles. Ekert, with a history of success in travel technology, will oversee business operations and technology transformation. CEO Sean Menke aims for a broad recovery in travel, leveraging Ekert's expertise for growth. Additionally, Dave Shirk transitions to a senior advisor role from President of Travel Solutions, effective January 1, 2022, as the company focuses on its strategic vision for personalized travel.
Sabre Corporation (SABR) has entered a long-term strategic partnership with American Express Global Business Travel (GBT), effective January 2022. GBT will invest millions in technology development with Sabre over the next decade to enhance corporate travel distribution. The collaboration aims to innovate booking capabilities and improve customer service in the travel sector. Both companies expect this partnership to drive growth and meet evolving traveler demands following the pandemic.
Sabre Corporation (NASDAQ: SABR) announced the launch of NDC content in GetThere, enhancing corporate travel managers' offerings. This new capability allows for selection of policy-compliant NDC offers alongside traditional content, enabling a unified booking experience that includes hotel and ground transportation. Sabre's commitment to evolving customer needs is highlighted as they facilitate more flexible travel options. The company aims to support recovery in corporate travel, significantly impacted by the COVID-19 pandemic, by providing more choices and improving traveler confidence.
Sabre Corporation (NASDAQ: SABR) has established a long-term partnership with TUI Group, a major tourism group. This collaboration will see around 70 TUI hotels utilize Sabre's platform, including SynXis Central Reservations, enhancing their distribution strategy. The partnership aims to streamline operations and improve revenue generation, particularly in the context of post-COVID recovery. Leadership from both firms emphasized innovation in hospitality technology and the importance of a personalized guest experience. This significant alliance underscores Sabre's role in driving efficiency and recovery in the travel industry.
Sabre Corporation (NASDAQ: SABR) announced a multi-year distribution partnership with Calafia Airlines, enhancing the airline's market reach and revenue potential. This agreement allows Calafia to distribute its flights through the Sabre travel marketplace, connecting it with travel agencies across the U.S., Mexico, and several Central American countries. Sabre aims to support the travel industry's recovery post-COVID-19 with innovative solutions, managing over $260B in global travel spend yearly. The partnership reinforces Sabre’s commitment to technology transformation in the travel sector.
Sabre Corporation (NASDAQ: SABR) has announced a strategic partnership with Hotel Keihan Chain to enhance tourism opportunities in Japan. This collaboration will leverage Sabre's SynXis platform to connect Hotel Keihan with hundreds of thousands of travel agents globally, aiming to boost bookings. Hotel Keihan operates 15 hotels with approximately 3,600 rooms, primarily in Osaka and Kyoto. The agreement also facilitates access to GDS connectivity and corporate contracts, allowing Hotel Keihan to effectively increase average daily rates (ADR) and occupancy.
On Nov. 3, 2021, Sabre Corporation (NASDAQ: SABR), unveiled its Retail Intelligence suite, featuring Sabre Air Price IQ™ and Sabre Ancillary IQ™. These products leverage Google Cloud's AI and machine learning to enhance airlines' pricing agility and personalize travel offers. Sabre aims to modernize travel retailing, addressing evolving traveler expectations through data-driven solutions that maximize revenue. The strategic partnership with Google strengthens its offering, enabling airlines to respond to market dynamics, improve customer satisfaction, and drive incremental revenue opportunities.
Sabre Corporation (NASDAQ: SABR) has announced its financial results for Q3 2021. Details are available on its Investor Relations webpage. The company will host a live earnings conference call today at 9:00 a.m. ET to discuss results and the ongoing impact of COVID-19. Sabre, a leading technology company in the travel industry, manages over $260 billion in global travel spend annually, serving more than 160 countries. For more information, visit investors.sabre.com.
CAE has agreed to acquire Sabre's AirCentre airline operations portfolio for US$392.5 million. The deal includes AirCentre's flight and crew management solutions and its 500 employees. In 2019, AirCentre reported approximately US$150 million in revenue and US$55 million in EBITDA. This acquisition aims to enhance CAE's digital flight operations and is expected to be EPS accretive in the first year. For Sabre, this divestiture aligns with its strategic initiatives, allowing it to focus on growth opportunities.
CAE has announced an agreement to acquire Sabre's AirCentre airline operations portfolio for US$392.5 million, aiming to enhance its digital flight operations capabilities. The AirCentre portfolio, which generated approximately US$150 million in revenue and US$55 million EBITDA in 2019, will add 500 skilled employees to CAE's workforce. The acquisition is projected to be accretive to CAE’s earnings per share and free cash flow in the first year post-closing, expected in early 2022.
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