Sabre Corporation

Sabre Corporation
Public
Traded as
Industry Travel technology
Travel services
Founded 1960 (1960)
Headquarters Southlake, Texas, United States
Key people
 Lawrence Kellner
(Executive Chairman)
Sean Menke
(President and CEO)
Products TripCase
GetThere
Sabre Airline Solutions
Sabre Travel Network
Sabre Hospitality Solutions
Revenue IncreaseUS$3.37 billion (2016)[1]
DecreaseUS$459.57 million (2016)[2]
DecreaseUS$242.56 million (2016)[3]
Total assets IncreaseUS$5.72 billion (2016)[4]
Total equity IncreaseUS$625.61 million (2016)[5]
Number of employees
 IncreaseAround 9,000 (2017)[6]
Website www.sabre.com

Sabre Corporation is a travel technology company based in Southlake, Texas.[7][8][9] It is the largest Global Distribution Systems provider for air bookings in North America.[10] American Airlines founded the company in 1960, and it was spun off in 2000.[11] Texas Pacific Group and Silver Lake Partners acquired Sabre in 2007.[12][13] Sabre began publicly trading on the NASDAQ in 2014.[8]

Sabre Hospitality Solutions, an IT solutions provider, is the company's largest growing division.[13]

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 (the Semi-Automatic Business Research Environment) concept.[14][15] The system was based on SAGE, the first major system to use interactive real-time computing, which IBM had developed for military use.[15] Sabre Corporation was founded in 1960 by American Airlines.[11][16] Sabre Corporation installed the first Sabre reservation system in Briarcliff Manor, New York that year.[14] The system consisted of two IBM 7090 mainframe computers and processed 84,000 calls per day.[14][15]

In 1964, Sabre's nationwide network was completed and became the largest commercial real-time data-processing system in the world.[15] Sabre Corporation handled 7500 passenger reservations per hour in 1965.[14] The Sabre system upgraded to IBM S/360 and moved to a new center in Tulsa, Oklahoma in 1972.[17] In 1976, the Sabre system was installed into a travel agency for the first time.[16] This allowed travel agents to have instant access to flights.[16] By the end of the year, 130 locations installed the Sabre system.[15] Sabre introduced BargainFinder, the industry's first automated low-fare search capability, in 1984.[18] The following year, easySabre was launched.[19] It gave consumers with personal computers access to the Sabre system to make airline, hotel and car rental reservations.[19]

In 1996, the company launched Travelocity, an online travel agency.[20] 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.[21]

2000s

AMR Corporation, the parent company of American Airlines, spun off its controlling stake in Sabre Corporation in 2000 to form an independent company.[22] The following year, Sabre began migrating its old mainframe for air travel shopping and pricing to HP NonStop and Linux servers.[23] In 2005, the company acquired lastminute.com, an online travel and leisure retailer.[24]

Texas Pacific Group and Silver Lake Partners acquired Sabre Corporation in March 2007.[12][25][26] In March 2010, the company acquired Calidris, a revenue integrity and business intelligence solutions company.[27] Sabre Corporation acquired SoftHotel, a web-based property management solutions provider, in June 2011.[28] The company launched Sabre Red App Centre in March 2012.[13] In April 2014, Sabre Corporation went public on NASDAQ under the ticker symbol SABR.[8][10] The IPO sold for $16 per share and valued Sabre at $3.93 billion.[29][30] The company acquired Genares, a hospitality technology company, that September.[31]

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.[32][33][34] 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.[35]

In June 2016, Sabre announced Tom Klein would be resigning as CEO by the end of 2016.[36]

Operations

The company is based in Southlake, Texas and has additional offices in London, Kraków, Bangalore, Montevideo and Buenos Aires.[11][37] In December 2013, the company handled approximately 85000 data transactions every second for customers according to the Fort Worth Star-Telegram.[38] At the time, the company did business with 70 airlines and 100,000 hotels.[38] It operates under the platforms Travel Network, Airline and Hospitality Solutions.

Businesses

Acquisitions

References

  1. ↑ http://www.marketwatch.com/investing/stock/sabr/financials
  2. ↑ http://www.marketwatch.com/investing/stock/sabr/financials
  3. ↑ http://www.marketwatch.com/investing/stock/sabr/financials
  4. ↑ http://www.marketwatch.com/investing/stock/sabr/financials
  5. ↑ http://www.marketwatch.com/investing/stock/sabr/financials
  6. ↑ https://www.dallasnews.com/business/airlines/2017/08/01/southlakes-sabre-corp-laying-900-workers
  7. ↑ Chris Ciaccia (17 April 2014). "Travelocity Owner Sabre Holdings Returns to Wall Street After IPO". Retrieved 18 November 2014.
  8. 1 2 3 Lance Murray (4 April 2014). "Sabre Holdings sets IPO valuation at up to $4.1B". Retrieved 18 November 2014.
  9. ↑ David Baum (December 2014). "Flying High with a Private Database Cloud". Retrieved 18 November 2014.
  10. 1 2 "Travelocity owner Sabre's IPO prices at $16 per share -underwriter". 16 April 2014. Retrieved 18 November 2014.
  11. 1 2 3 "American Airlines Assails Sabre in Data-Business Trial". 25 October 2012. Retrieved 18 November 2014.
  12. 1 2 "TPG and Silver Lake take Sabre private". 9 April 2007. Retrieved 18 November 2014.
  13. 1 2 3 "Sabre Holdings switches CEOs, appointing Tom Klein". 15 August 2013. Retrieved 18 November 2014.
  14. 1 2 3 4 "Forget the Booze. The Mad Men’s Best Friend Was SABRE". 27 July 2012. Retrieved 18 November 2014.
  15. 1 2 3 4 5 "Sidebar: Sabre Timeline". Retrieved 18 November 2014.
  16. 1 2 3 "Sabre Makes the Wrong Choice By Removing American Airlines". 7 January 2011. Retrieved 18 November 2014.
  17. ↑ McKenney, James L. (1 January 1995). Waves of Change: Business Evolution Through Information Technology.
  18. ↑ "American Airlines Reveals Limits Of World-Class IT". 26 January 2012. Retrieved 18 November 2014.
  19. 1 2 Vervest, Peter; Dunn, Al (2000). How to Win Customers in the Digital World: Total Action Or Fatal Inaction.
  20. ↑ Johanna Jainchill (4 June 2012). "Travelocity fights to regain market share". Retrieved 18 November 2014.
  21. ↑ Isae Wada (4 March 1998). "Sabre Finalized Abacus Pact". Retrieved 18 November 2014.
  22. ↑ "AMR Climbs on Sabre Spinoff". 14 December 1999. Retrieved 18 November 2014.
  23. ↑ Gary Anthes (31 May 2004). "Sabre Flies to Open Systems". Retrieved 18 November 2014.
  24. 1 2 "Sabre Holdings Completes Acquisition of lastminute.com". 20 July 2005. Retrieved 18 November 2014.
  25. ↑ "Equity Firms in Talks to Buy Sabre Holdings". 11 December 2006. Retrieved 18 November 2014.
  26. ↑ "Silver Lake, Texas Pacific To Buy Sabre Holdings". 12 December 2006. Retrieved 18 November 2014.
  27. ↑ "Sabre Acquires Calidris". 31 March 2010. Retrieved 18 November 2014.
  28. ↑ "Sabre Holdings Acquires SoftHotel". 30 June 2011. Retrieved 18 November 2014.
  29. ↑ Samantha Nielson (25 September 2014). "Maverick Capital establishes position in Sabre Corporation". Retrieved 18 November 2014.
  30. ↑ "Travelocity owner Sabre takes flight on $627M IPO". 17 April 2014. Retrieved 18 November 2014.
  31. ↑ "Sabre acquires global hospitality technology company". 21 September 2014. Retrieved 18 November 2014.
  32. ↑ Expedia Inc acquires Travelocity in $280 million deal. Reuters, 26 January 2015
  33. ↑ Robinson-Jacobs, Karen (23 January 2015). "Sabre sells Travelocity to Expedia for $280 million". Dallas Morning News. Retrieved 27 January 2015.
  34. ↑ "Expedia Buys Booking Site Travelocity for $280M in Cash". ABC News. 23 January 2015. Retrieved 27 January 2015.
  35. ↑ Rudnansky, Ryan (1 July 2015). "Sabre Acquires Abacus International for $411M". Travel Pulse. Retrieved 26 August 2015.
  36. ↑ "Sabre Corporation Announces CEO Transition (NASDAQ:SABR)". investors.sabre.com. Retrieved 2016-06-20.
  37. ↑ "Sabre Corporation". Retrieved 18 November 2014.
  38. 1 2 "Think of Sabre Holdings as a data company, CEO says". 5 December 2013. Retrieved 18 November 2014.
  39. ↑ "Sabre acquires stake in German CRS". 11 July 2000. Retrieved 18 November 2014.
  40. ↑ "E-Business: Sabre acquires Dublin-based Gradient Solutions". 17 August 2000. Retrieved 18 November 2014.
  41. ↑ "Sabre buys GetThere for $757 million, announces layoffs". 29 August 2000. Retrieved 18 November 2014.
  42. ↑ http://www.travelweekly.com/Travel-News/Travel-Agent-Issues/Nexion-adds-60-member-host-agency-to-network/
  43. ↑ "Sabre Acquires Software Developer". Retrieved 18 November 2014.
  44. ↑ "Travelocity.com Buys Site59 for $43 Million". 26 March 2002. Retrieved 18 November 2014.
  45. ↑ "Resfeber switches to Sabre Travel Network, citing customer service and technology". Retrieved 18 November 2014.
  46. ↑ "Sabre buys Kiehl Hendrickson Group". 4 November 2002. Retrieved 18 November 2014.
  47. ↑ "Sabre Acquires EDS Axresource Product Line". Retrieved 18 November 2014.
  48. ↑ "Travelocity to Acquire World Choice Travel Assets". 22 October 2013. Retrieved 18 November 2014.
  49. ↑ "Sabre Airline Solutions Expands International Presence". 16 August 2004. Retrieved 18 November 2014.
  50. ↑ "Travelocity Acquires Allstate Ticketing And Its Showtickets.com Website". 31 August 2004. Retrieved 18 November 2014.
  51. ↑ "SynXis to Be Bought for $40 Million". 10 December 2004. Retrieved 18 November 2014.
  52. ↑ "Nexion adds 60-member host agency to network". 19 January 2005. Retrieved 18 November 2014.
  53. ↑ "Acquisition Gives Sabre Access To Online Search Revenue". 6 April 2005. Retrieved 18 November 2014.
  54. ↑ "Travelocity buys Lastminute.com for £577m". 12 May 2005. Retrieved 18 November 2014.
  55. ↑ "(BW) Sabre Holdings Acquires E-site Marketing to Build on Comprehensive Hospitality Offerings". 5 June 2007. Retrieved 18 November 2014.
  56. ↑ "Sabre acquires Flight Explorer". Retrieved 18 November 2014.
  57. ↑ "Sabre acquires EB2". 19 December 2008. Retrieved 18 November 2014.
  58. ↑ "Calidris to become part of Sabre Airline Solutions". 31 March 2010. Retrieved 18 November 2014.
  59. ↑ "Sabre Holdings buys Flightline Data Services". 8 July 2010. Retrieved 18 November 2014.
  60. ↑ "Sabre buys flight planning technology provider f:wz". Retrieved 18 November 2014.
  61. ↑ "Sabre Holdings acquires SoftHotel". 29 June 2011. Retrieved 18 November 2014.
  62. ↑ "Sabre buys airline information service Prism, probably the big acquisition disclosed in secret docs". Retrieved 18 November 2014.
  63. ↑ "Sabre Acquires Hotel-Tech Provider Genares as Competition Heats Up". 12 September 2014. Retrieved 18 November 2014.
  64. ↑ "Sabre acquires Trust International for $154 million". Tnooz. Retrieved 2015-11-25.
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