Sabre

#4692

Rank

$1.11B

MarketCap US

US United States

Country

Summary
Sabre Corporation, through its subsidiary, Sabre Holdings Corporation, provides software and technology solutions for the travel industry worldwide. It operates in two segments, Travel Solutions and Hospitality Solutions. The Travel Solutions segment operates as a business-to-business travel marketplace that offers travel content, such as inventory, prices, and availability from a range of travel suppliers, including airlines, hotels, car rental brands, rail carriers, cruise lines, and tour operators with a network of travel buyers comprising online and offline travel agencies, travel management companies, and corporate travel departments. This segment also provides a portfolio of software technology products and solutions through software-as-a-service (SaaS) and hosted delivery models to airlines and other travel suppliers. Its products include reservation systems for carriers, commercial and operations products, agency solutions, and data-driven intelligence solutions. The Hospitality Solutions segment provides software and solutions to hoteliers through SaaS and hosted delivery models. Sabre Corporation was incorporated in 2006 and is headquartered in Southlake, Texas.

History

Early history

In 1953, C.R. Smith, the president of American Airlines, met Blair Smith, an IBM salesman, on a flight and developed the Sabre concept. The system was based on SAGE, the first major system to use interactive real-time computing, which IBM had developed for military use.Sabre Corporation was founded in 1960 by American Airlines. Sabre Corporation installed the first Sabre reservation system in Briarcliff Manor, New York that year. The system consisted of two IBM 7090 mainframe computers and processed 84,000 calls per day.In 1964, Sabre's nationwide network was completed and became the largest commercial real-time data-processing system in the world. Sabre Corporation handled 7500 passenger reservations per hour in 1965. The Sabre system upgraded to IBM System/360 and moved to a new center in Tulsa, Oklahoma in 1972.In 1976, the Sabre system was installed into a travel agency for the first time. This allowed travel agents to have instant access to flights. By the end of the year, 130 locations installed the Sabre system. Sabre introduced BargainFinder, the industry's first automated low-fare search capability, in 1984. The following year, easySabre was launched. It gave consumers with personal computers access to the Sabre system to make airline, hotel and car rental reservations.In 1989 The New York Times reported Sabre having "about 38 percent of the reservations market."In 1996, the company launched Travelocity, an online travel agency. Sabre formed a joint venture with Abacus International in 1998 to create the SabreSonic passenger solution, a customized version of Sabre's reservations system to Abacus subscribers in Asia.

2000s

AMR Corporation, the parent company of American Airlines, spun off its controlling stake in Sabre Corporation in 2000 to form an independent company.In 2001, Electronic Data Systems purchased Sabre Holdings' airline hardware and communications business, and Sabre began migrating its old mainframe for air travel shopping and pricing to HP NonStop and Linux servers. In 2005, the company acquired lastminute.com, an online travel and leisure retailer.Texas Pacific Group and Silver Lake Partners acquired Sabre Corporation in March 2007. In March 2010, the company acquired Calidris, a revenue integrity and business intelligence solutions company. Sabre Corporation acquired SoftHotel, a web-based property management solutions provider, in June 2011. The company launched Sabre Red App Centre in March 2012. In April 2014, Sabre Corporation went public on NASDAQ under the ticker symbol SABR. The IPO sold for $16 per share and valued Sabre at $3.93 billion. The company acquired Genares, a hospitality technology company, that September.In December 2014, Bravofly Rumbo Group acquired Sabre European Online Travel Agency, lastminute.com.

In January 2015, Sabre sold its Travelocity brand to Expedia, Inc. for $280 million. In July 2015, Sabre acquired Abacus International, a global distribution system based in the Asia-Pacific region. The deal included long-term distribution agreements between Sabre and the 11 Asian airlines that previously shared ownership of Abacus.In June 2016, Sabre announced Tom Klein would resign as CEO by the end of 2016.In October 2019 Sabre announced its purchase of Radixx for $110. Radixx is a seller of passenger service software to small and budget airlines. Sabre expects Radixx to generate $20 million in 2019.In October 2021, Sabre announced the sale of the AirCentre solution portfolio to CAE Inc for $392.5M. In May 2022 Sabre announced its purchase of Nuvola, a provider of hotel and service optimization software. Nuvola software gives hotels the tools needed to create intuitive and scalable cloud-based solutions that includes functions such as task management capabilities, guest messaging and concierge services, and advanced housekeeping management solutions. Sabre hopes this purchase will advance its hospitality retailing and merchandising strategy.In August 2022, Sabre acquired Conferma Pay, a UK-based payments company.


Mission
Sabre is a leading software and technology company that powers the global travel industry. With decades of revolutionary firsts, our team of experts drive innovation and ingenuity across the travel ecosystem. Sabre partners with airlines, hoteliers, agencies and other travel partners to retail, distribute and fulfill travel.

Vision
We aim to be the premier global technology platform in travel.

Key Team

Mr. Michael Sam Gilliland (Chairman Emeritus and Adviser)

Mr. Michael O. Randolfi (CFO & Exec. VP)

Mr. Joseph DiFonzo (Chief Information Officer)

Mr. Kevin William Crissey (VP of Investor Relations)

Mr. Chadwick Ho (Exec. VP & Chief Legal Officer)

Ms. Kristin Hays (Sr. VP of Global Communications)

Mr. Rodolfo Silva (Global Head of Corp. Sales & Account Management)


Recognition and Awards
Sabre Corporation won 2 awards in 2022. In 2022, Sabre Corporation won for Best CEO 2022 and Best Company Culture 2022. Based on 59,355 ratings and 2,046 participants, employees at Sabre Corporation are very satisfied with their work experience. The overall culture score, 79/100 or A+, incorporates employee ratings based on their feedback on the Work Culture, Outlook, Happiness and more.

References
Sabre
Leadership team

Mr. Sean E. Menke (CEO & Chairman)

Mr. Roshan Mendis (Exec. VP & Chief Commercial Officer - Travel Solutions)

Mr. Kurt J. Ekert (Pres)

Products/ Services
Business Intelligence, Information Technology, SaaS, Tourism, Travel
Number of Employees
1,000 - 20,000
Headquarters
Southlake, Texas, United States
Established
1960
Company Registration
SEC CIK number: 0001597033
Revenue
Above - 1B
Traded as
SABR
Social Media
Fri Mar 01 2024
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