SOUTHLAKE, Texas, Feb. 26, 2020 /PRNewswire/ -- Sabre
Corporation (NASDAQ: SABR), the leading software and
technology provider that powers the global travel industry, today
announced a set of strategic priorities that are expected to
position the Company to accelerate growth and create long term
shareholder value.
As part of its vision to lead a new marketplace for personalized
travel, Sabre detailed five strategic initiatives that are intended
to increase the Company's addressable market across its business,
deliver revenue and market share growth, and improve the Company's
overall margin structure. Specifically, each priority seeks
to:
- Create personalized offers: accelerating new IT
capabilities, processes and intelligence that allow suppliers to
retail personalized offers through all channels, unlocking more
value per passenger boarded
- Accelerate the future of distribution & NDC:
increasing the value of supplier offers and the value of the GDS by
integrating NDC content, enabling airlines to distribute
personalized offers through the Company's marketplace and through
their direct channels
- Unlock growth potential in the LCC market: harnessing
the growth and innovation of the fast-growing low cost carrier
(LCC) market by creating more ways for LCCs to retail and
distribute content, and scaling the offerings of Radixx, the
Company's recently acquired LCC provider
- Deliver a full-service property management system to better
serve enterprise hotels: collaborating with Accor, Sabre plans
to build a full service property management system that will
combine with its best-in-class central reservation system and
state-of-the-art limited service property management system within
a fully unified, cloud-native platform designed for hoteliers of
all property classes, sizes and geographic regions – a milestone in
the global travel industry
- Transform Sabre's technology in a preferred partnership with
Google: this 10-year strategic partnership is designed to:
-
- Improve Sabre's technology capability by migrating the
Company's IT infrastructure to Google Cloud's highly available and
secure services with advanced support and greater flexibility
- Utilize Google's data analytics tools to enable Sabre to
enhance the capabilities of current and future products by
providing insights to help improve operational efficiency and
create and optimize travel options, with the goal of improving both
loyalty and revenues for its customers
- Design a broader innovation framework with Google that seeks to
leverage the talent and assets of both companies to imagine,
develop and deploy future capabilities that will advance the travel
ecosystem, benefiting all market participants.
Sean Menke, Sabre's President and
CEO said, "We are committed to helping our customers operate more
efficiently, drive revenue and offer personalized traveler
experiences that create greater loyalty. Over the last year, we
continued to see shifts in the travel ecosystem resulting in the
changing needs of our airline, hotel and agency customers. We are
thinking critically about how the retailing, distribution and
fulfillment of travel will continue to evolve over the next decade
and how each of these elements will become even more interconnected
and interdependent."
Menke continued, "At Sabre, we have the vision, the expertise
and the planned investments in our end-to-end capabilities to
become the trusted technology partner that brings it all together
on one advanced travel platform. Building on the momentum we
generated in 2019, we have committed $150
million in 2020 to support the five strategic priorities and
better position Sabre for revenue and share growth going forward.
These priorities are designed to significantly enhance our
technology and product offerings, increase our addressable market
and create meaningful opportunities for profitable growth."
For the last three years, Sabre's new leadership team has been
driving transformational change and building a foundation to
position the Company for future growth. The team has been primarily
focused on three areas: the security, stability and health of
its technology products and services; enhancing collaboration
across the Company's business segments to accelerate the creation
of end-to-end solutions for its customers; and building a
leadership team throughout the organization that will lead Sabre
into the next phase of its journey to become the trusted technology
partner of the travel industry.
Sabre unveiled the Company's strategic initiatives to its top
900 leaders during its annual global leadership summit in
Dallas at the end of January.
Today, during the Company's fourth quarter and full year 2019
earnings conference call, Menke and other members of Sabre's
executive leadership team will discuss the initiatives in further
detail. Details for that call may be found in the Company's
Q4 and FY 2019 earnings release.
About Sabre Corporation
Sabre Corporation is a
leading software and technology company that powers the global
travel industry, serving a wide range of travel companies including
airlines, hoteliers, travel agencies and other suppliers. The
company provides retailing, distribution and fulfilment solutions
that help its customers operate more efficiently, drive
revenue and offer personalized traveler experiences. Through its
leading travel marketplace, Sabre connects travel suppliers with
buyers from around the globe. Sabre's technology platform manages
more than $260B worth of global
travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers
in more than 160 countries around the world. For more
information visit www.sabre.com.
Forward Looking Statements
Certain statements herein
are forward-looking statements about trends, future events,
uncertainties and our plans and expectations of what may happen in
the future. Any statements that are not historical or current facts
are forward-looking statements. In many cases, you can identify
forward-looking statements by terms such as "design," "expect,"
"vision," "initiative," "intend," "seek," "plan," "commit,"
"momentum," "priority," "goal," "believe," "opportunity,"
"position," "future," "anticipate," "will," "estimate," "project,"
"may," "should," "would," "potential" or the negative of these
terms or other comparable terminology. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Sabre's actual results, performance or achievements
to be materially different from any future results, performances or
achievements expressed or implied by the forward-looking
statements. The potential risks and uncertainties include, among
others, dependency on transaction volumes in the global travel
industry, particularly air travel transaction volumes, including
from airlines' insolvency or suspension of service or aircraft
groundings, the duration and effects of the Coronavirus, the
timing, implementation and effects of the technology investment and
other strategic imperatives, the completion and effects of travel
platforms, travel suppliers' usage of alternative distribution
models, exposure to pricing pressure in the Travel Network
business, changes affecting travel supplier customers, maintenance
of the integrity of our systems and infrastructure and the effect
of any security breaches, failure to adapt to technological
advancements, competition in the travel distribution market and
solutions markets, implementation of software solutions, reliance
on third parties to provide information technology services and the
effects of these services, the finalization of an agreement to
implement a full-service property management system, the execution,
implementation and effects of new or renewed agreements, dependence
on establishing, maintaining and renewing contracts with customers
and other counterparties and collecting amounts due to us under
these agreements, dependence on relationships with travel buyers,
our collection, processing, storage, use and transmission of
personal data and risks associated with PCI compliance, our ability
to recruit, train and retain employees, including our key executive
officers and technical employees, the financial and business
results and effects of acquisitions, including related costs, and,
as applicable, the closing and integration of these acquisitions,
the effects of any litigation and regulatory reviews and
investigations, including with respect to proposed and completed
acquisitions, adverse global and regional economic and political
conditions, including, but not limited to, economic conditions in
countries or regions with traditionally high levels of exports to
China or that have
commodities-based economies and the effect of "Brexit" and
uncertainty due to related negotiations, risks arising from global
operations, reliance on the value of our brands, failure to comply
with regulations, use of third-party distributor partners, the
effects of the implementation of new accounting standards, and
tax-related matters, including the effects of the Tax Cuts and Jobs
Act. More information about potential risks and uncertainties that
could affect our business and results of operations is included in
the "Risk Factors" and "Forward-Looking Statements" sections in our
Quarterly Report on Form 10-Q filed with the SEC on October 31, 2019 and our Annual Report on Form
10-K filed with the SEC on February 15,
2019 and in our other filings with the SEC. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, we cannot guarantee future events,
outlook, guidance, results, actions, levels of activity,
performance or achievements. Readers are cautioned not to place
undue reliance on these forward-looking statements. Unless required
by law, Sabre undertakes no obligation to publicly update or revise
any forward-looking statements to reflect circumstances or events
after the date they are made.
SABR-F
Media Contact:
Kristin
Hays
Kristin.Hays@sabre.com
sabrenews@sabre.com
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SOURCE Sabre Corporation