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) will host a live webcast of its fourth quarter and full year 2020 earnings call on February 16, 2021, at 9:00 a.m. ET. The call will cover financial results and the impact of COVID-19 on the business. A replay will be available post-event for 90 days. Known for powering the global travel industry, Sabre manages over $260 billion in travel spend annually, serving clients across more than 160 countries. Investors can access the webcast at investors.sabre.com.
Sabre Corporation (NASDAQ: SABR) has announced an expanded partnership with WestJet Airlines, renewing their SabreSonic passenger service system agreement. This multi-year deal includes the adoption of Sabre's Dynamic Availability, Digital Connect, and Intelligence Exchange solutions, aimed at enhancing WestJet's operational efficiency and flexibility. The collaboration is expected to help WestJet adapt to changing market conditions, drive revenue growth, and improve customer insights. Sabre's AI-driven technology, including the new Smart Retail Engine, will further bolster their capabilities in personalized travel solutions.
Sabre Corporation (NASDAQ: SABR) has renewed its strategic partnership with Preferred Hotels & Resorts, ensuring access to Sabre's hospitality solutions for over 750 hotels globally. This long-term agreement aims to enhance the I Prefer Hotel Rewards program and improve distribution of Preferred Residences. Key offerings will include Sabre's SynXis Central Reservations and Booking Engine, which will help hoteliers manage reservations effectively and increase booking conversions. This partnership reflects the confidence Preferred Hotels has in Sabre's technology amidst the travel industry's recovery.
Travelgenio, a major European online travel agency, has expanded its partnership with Sabre Corporation (NASDAQ: SABR) to utilize Sabre Virtual Payments as its preferred virtual card technology. This collaboration aims to streamline operations and drive revenue as the travel industry recovers. Travelgenio will leverage Sabre's automation to enhance customer experience and reduce costs. Sabre's technology, which supports over $260B in global travel spend, is expected to play a critical role in boosting recovery efforts within the OTA sector.
On December 17, 2020, Sabre Corporation (Nasdaq: SABR) announced a significant refinancing of its debt. This included repaying its Term Loan A credit facility and redeeming $500 million of its 5.250% Senior Secured Notes due November 2023. The refinancing utilized a new $637 million term loan facility, maturing on December 17, 2027, which enhances Sabre's debt maturity profile and financial flexibility. No additional debt was incurred beyond the refinanced amount. This strategic move aims to strengthen the company’s overall financial position.
Sabre Corporation and Lufthansa Group airlines have signed a new mutually flexible distribution agreement aimed at enhancing modern airline retailing and technological innovation. This agreement allows Sabre to distribute content from Lufthansa Group airlines, including Austrian Airlines and SWISS, through its Global Distribution System (GDS) and via the New Distribution Capability (NDC) standard. The collaboration supports personalized pricing strategies and facilitates a more diversified distribution ecosystem, with the NDC program expected to launch in 2021.
Sabre Corporation (NASDAQ: SABR) has successfully implemented its Select Shopping solutions for LATAM Airlines, enhancing the airline's booking capabilities on its website and call center. This solution allows LATAM to offer various seat types and improve pricing accuracy, ultimately leading to a nearly 3% increase in passenger booking conversions. LATAM is also witnessing a recovery in its passenger operations as it scales up weekly flights. Sabre's technology aims to meet evolving traveler expectations by providing advanced retailing and support solutions.
On December 7, 2020, Sabre Corporation announced a proposed refinancing of $637 million in existing debt through its subsidiary, Sabre GLBL Inc. The refinancing includes a new term loan B facility aimed at redeeming November 2023 Secured Notes and prepaying Term A Loans. This initiative is designed to enhance Sabre's debt maturity profile while maintaining current debt levels, excluding interest and fees. The new loan facility is subject to agreement with lenders and market conditions, and will be secured by the company's assets.
On December 2, 2020, Sabre Corporation (NASDAQ: SABR) announced the implementation of its branded fares technology by Gulf Air, the national carrier of Bahrain. This technology enhances merchandising capabilities, allowing travel agents to access various branded fare options, including Gulf Air's 'Boutique' fare family. The initiative aims to provide customers with greater choice, flexibility, and value while driving revenue for airlines. Sabre's technology is used by 225 airlines globally, optimizing operations and enhancing travel experiences.
Croatia Airlines and Sabre Corporation (NASDAQ: SABR) announced the successful remote migration to Sabre Revenue Optimizer, enhancing the airline's revenue management capabilities amid the COVID-19 pandemic. The implementation, which included virtual training, enables real-time visibility into revenue streams and dynamic competitor fare analysis. This advanced solution is crucial for navigating the volatile economic landscape, allowing Croatia Airlines to optimize pricing strategies. The collaboration was highlighted for its effectiveness despite challenges posed by distance and remote work.
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