Sabre Corporation

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Sabre Corporation
Public
Traded as
Industry Travel technology
Travel services
Founded 1960 (1960)
Headquarters ,
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$3.598 billion (2017)[1]
IncreaseUS$493.44 million (2017)[1]
DecreaseUS$242.54 million (2017)[1]
Total assets DecreaseUS$5.65 billion (2016)[1]
Total equity IncreaseUS$698.50 million (2016)[1]
Number of employees
IncreaseAround 10,000 (2017)[2]
Website www.sabre.com

Sabre Corporation is a travel technology company based in Southlake, Texas.[3][4][5] It is the largest Global Distribution Systems provider for air bookings in North America.[6] American Airlines founded the company in 1960, and it was spun off in 2000.[7] Texas Pacific Group and Silver Lake Partners acquired Sabre in 2007.[8][9] Sabre began publicly trading on the NASDAQ in 2014.[4]

Sabre Hospitality Solutions, an IT solutions provider, is the company's largest growing division.[9]

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.[10][11] The system was based on SAGE, the first major system to use interactive real-time computing, which IBM had developed for military use.[11] Sabre Corporation was founded in 1960 by American Airlines.[7][12] Sabre Corporation installed the first Sabre reservation system in Briarcliff Manor, New York that year.[10] The system consisted of two IBM 7090 mainframe computers and processed 84,000 calls per day.[10][11]

In 1964, Sabre's nationwide network was completed and became the largest commercial real-time data-processing system in the world.[11] Sabre Corporation handled 7500 passenger reservations per hour in 1965.[10] The Sabre system upgraded to IBM System/360 and moved to a new center in Tulsa, Oklahoma in 1972.[13] In 1976, the Sabre system was installed into a travel agency for the first time.[12] This allowed travel agents to have instant access to flights.[12] By the end of the year, 130 locations installed the Sabre system.[11] Sabre introduced BargainFinder, the industry's first automated low-fare search capability, in 1984.[14] The following year, easySabre was launched.[15] It gave consumers with personal computers access to the Sabre system to make airline, hotel and car rental reservations.[15]

In 1996, the company launched Travelocity, an online travel agency.[16] 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.[17]

2000s

AMR Corporation, the parent company of American Airlines, spun off its controlling stake in Sabre Corporation in 2000 to form an independent company.[18] The following year, Sabre began migrating its old mainframe for air travel shopping and pricing to HP NonStop and Linux servers.[19] In 2005, the company acquired lastminute.com, an online travel and leisure retailer.[20]

Texas Pacific Group and Silver Lake Partners acquired Sabre Corporation in March 2007.[8][21][22] In March 2010, the company acquired Calidris, a revenue integrity and business intelligence solutions company.[23] Sabre Corporation acquired SoftHotel, a web-based property management solutions provider, in June 2011.[24] The company launched Sabre Red App Centre in March 2012.[9] In April 2014, Sabre Corporation went public on NASDAQ under the ticker symbol SABR.[4][6] The IPO sold for $16 per share and valued Sabre at $3.93 billion.[25][26] The company acquired Genares, a hospitality technology company, that September.[27]

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.[28][29][30] 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.[31]

In June 2016, Sabre announced Tom Klein would be resigning as CEO by the end of 2016.[32]

Operations

The company is based in Southlake, Texas and has additional offices in London, Kraków, Bangalore, Montevideo and Singapore.[7][33] In December 2013, the company handled approximately 85000 data transactions every second for customers according to the Fort Worth Star-Telegram.[34] At the time, the company did business with 70 airlines and 100,000 hotels.[34] It operates under the platforms Travel Network, Airline and Hospitality Solutions.

Businesses

  • GetThere
  • Sabre Airline Solutions
  • Sabre Travel Network
  • Sabre Hospitality Solutions
  • TripCase

Acquisitions

  • Preview Travel (2000)[20]
  • Dillion Communication Systems (2000)[35]
  • Gradient Solutions (2000)[36]
  • GetThere (2000)[37]
  • Sabre Pacific (2001)
  • Nexion Inc. (2003)[38]
  • David R. Bornemann Associates (2001)[39]
  • Site59 (2001)[40]
  • Resfeber Scandinavia (2002)[41]
  • Kiehl Hendrickson Group (2002)[42]
  • axsResource Airport Resource Management Solutions (2003)[43]
  • World Choice Travel (2003)[44]
  • RM Rocade (2004)[45]
  • Showtickets.com (2004)[46]
  • SynXis Corporation (2004)[47]
  • Southwest Travel Systems (2005)[48]
  • IgoUgo.com (2005)[49]
  • Lastminute.com (2005)[50]
  • E-site Marketing (2007)[51]
  • Flight Explorer (2008)[52]
  • EB2 (2008) [53]
  • Calidris (2010) [54]
  • Flightline Data Services (2010) [55]
  • f:wz (2010)[56]
  • SoftHotel (2011)[57]
  • Prism (2012) [58]
  • Genares (2014) [59]
  • Abacus International (2015)
  • American Airlines (2018)
  • Trust International (2015)[60]
  • Airpas Aviation (2016)[61]

References

  1. ^ a b c d e "Sabre Corp". www.marketwatch.com. Retrieved 26 August 2017.
  2. ^ "Southlake's Sabre Corp. laying off 900 workers". 1 August 2017. Retrieved 26 August 2017.
  3. ^ Chris Ciaccia (17 April 2014). "Travelocity Owner Sabre Holdings Returns to Wall Street After IPO". Retrieved 18 November 2014.
  4. ^ a b c Lance Murray (4 April 2014). "Sabre Holdings sets IPO valuation at up to $4.1B". Retrieved 18 November 2014.
  5. ^ David Baum (December 2014). "Flying High with a Private Database Cloud". Retrieved 18 November 2014.
  6. ^ a b "Travelocity owner Sabre's IPO prices at $16 per share -underwriter". 16 April 2014. Retrieved 18 November 2014.
  7. ^ a b c "American Airlines Assails Sabre in Data-Business Trial". 25 October 2012. Retrieved 18 November 2014.
  8. ^ a b "TPG and Silver Lake take Sabre private". 9 April 2007. Retrieved 18 November 2014.
  9. ^ a b c "Sabre Holdings switches CEOs, appointing Tom Klein". 15 August 2013. Retrieved 18 November 2014.
  10. ^ a b c d "Forget the Booze. The Mad Men's Best Friend Was SABRE". 27 July 2012. Retrieved 18 November 2014.
  11. ^ a b c d e "Sidebar: Sabre Timeline". Retrieved 18 November 2014.
  12. ^ a b c "Sabre Makes the Wrong Choice By Removing American Airlines". 7 January 2011. Retrieved 18 November 2014.
  13. ^ McKenney, James L. (1 January 1995). Waves of Change: Business Evolution Through Information Technology.
  14. ^ "American Airlines Reveals Limits Of World-Class IT". 26 January 2012. Retrieved 18 November 2014.
  15. ^ a b Vervest, Peter; Dunn, Al (2000). How to Win Customers in the Digital World: Total Action Or Fatal Inaction.
  16. ^ Johanna Jainchill (4 June 2012). "Travelocity fights to regain market share". Retrieved 18 November 2014.
  17. ^ Isae Wada (4 March 1998). "Sabre Finalized Abacus Pact". Retrieved 18 November 2014.
  18. ^ "AMR Climbs on Sabre Spinoff". 14 December 1999. Retrieved 18 November 2014.
  19. ^ Gary Anthes (31 May 2004). "Sabre Flies to Open Systems". Retrieved 18 November 2014.
  20. ^ a b "Sabre Holdings Completes Acquisition of lastminute.com". 20 July 2005. Retrieved 18 November 2014.
  21. ^ "Equity Firms in Talks to Buy Sabre Holdings". 11 December 2006. Retrieved 18 November 2014.
  22. ^ "Silver Lake, Texas Pacific To Buy Sabre Holdings". 12 December 2006. Retrieved 18 November 2014.
  23. ^ "Sabre Acquires Calidris". 31 March 2010. Retrieved 18 November 2014.
  24. ^ "Sabre Holdings Acquires SoftHotel". 30 June 2011. Retrieved 18 November 2014.
  25. ^ Samantha Nielson (25 September 2014). "Maverick Capital establishes position in Sabre Corporation". Retrieved 18 November 2014.
  26. ^ "Travelocity owner Sabre takes flight on $627M IPO". 17 April 2014. Retrieved 18 November 2014.
  27. ^ "Sabre acquires global hospitality technology company". 21 September 2014. Retrieved 18 November 2014.
  28. ^ Expedia Inc acquires Travelocity in $280 million deal. Reuters, 26 January 2015
  29. ^ Robinson-Jacobs, Karen (23 January 2015). "Sabre sells Travelocity to Expedia for $280 million". Dallas Morning News. Retrieved 27 January 2015.
  30. ^ "Expedia Buys Booking Site Travelocity for $280M in Cash". ABC News. 23 January 2015. Retrieved 27 January 2015.
  31. ^ Rudnansky, Ryan (1 July 2015). "Sabre Acquires Abacus International for $411M". Travel Pulse. Retrieved 26 August 2015.
  32. ^ "Sabre Corporation Announces CEO Transition (NASDAQ:SABR)". investors.sabre.com. Retrieved 2016-06-20.
  33. ^ "Sabre Corporation". Retrieved 18 November 2014.
  34. ^ a b "Think of Sabre Holdings as a data company, CEO says". 5 December 2013. Retrieved 18 November 2014.
  35. ^ "Sabre acquires stake in German CRS". 11 July 2000. Retrieved 18 November 2014.
  36. ^ "E-Business: Sabre acquires Dublin-based Gradient Solutions". 17 August 2000. Retrieved 18 November 2014.
  37. ^ "Sabre buys GetThere for $757 million, announces layoffs". 29 August 2000. Retrieved 18 November 2014.
  38. ^ "Nexion adds 60-member host agency to network: Travel Weekly". www.travelweekly.com. Retrieved 26 August 2017.
  39. ^ "Sabre Acquires Software Developer". Retrieved 18 November 2014.
  40. ^ "Travelocity.com Buys Site59 for $43 Million". 26 March 2002. Retrieved 18 November 2014.
  41. ^ "Resfeber switches to Sabre Travel Network, citing customer service and technology". Retrieved 18 November 2014.
  42. ^ "Sabre buys Kiehl Hendrickson Group". 4 November 2002. Retrieved 18 November 2014.
  43. ^ "Sabre Acquires EDS Axresource Product Line". Retrieved 18 November 2014.
  44. ^ "Travelocity to Acquire World Choice Travel Assets". 22 October 2013. Retrieved 18 November 2014.
  45. ^ "Sabre Airline Solutions Expands International Presence". 16 August 2004. Retrieved 18 November 2014.
  46. ^ "Travelocity Acquires Allstate Ticketing And Its Showtickets.com Website". 31 August 2004. Retrieved 18 November 2014.
  47. ^ "SynXis to Be Bought for $40 Million". 10 December 2004. Retrieved 18 November 2014.
  48. ^ "Nexion adds 60-member host agency to network". 19 January 2005. Retrieved 18 November 2014.
  49. ^ "Acquisition Gives Sabre Access To Online Search Revenue". 6 April 2005. Retrieved 18 November 2014.
  50. ^ "Travelocity buys Lastminute.com for £577m". 12 May 2005. Retrieved 18 November 2014.
  51. ^ "(BW) Sabre Holdings Acquires E-site Marketing to Build on Comprehensive Hospitality Offerings". 5 June 2007. Retrieved 18 November 2014.
  52. ^ "Sabre acquires Flight Explorer". Retrieved 18 November 2014.
  53. ^ "Sabre acquires EB2". 19 December 2008. Retrieved 18 November 2014.
  54. ^ "Calidris to become part of Sabre Airline Solutions". 31 March 2010. Retrieved 18 November 2014.
  55. ^ "Sabre Holdings buys Flightline Data Services". 8 July 2010. Retrieved 18 November 2014.
  56. ^ "Sabre buys flight planning technology provider f:wz". Retrieved 18 November 2014.
  57. ^ "Sabre Holdings acquires SoftHotel". 29 June 2011. Retrieved 18 November 2014.
  58. ^ "Sabre buys airline information service Prism, probably the big acquisition disclosed in secret docs". Retrieved 18 November 2014.
  59. ^ "Sabre Acquires Hotel-Tech Provider Genares as Competition Heats Up". 12 September 2014. Retrieved 18 November 2014.
  60. ^ "Sabre acquires Trust International for $154 million". Tnooz. Retrieved 2015-11-25.
  61. ^ "Sabre grows Airline Solutions portfolio with acquisition of Airpas Aviation". Sabre. Retrieved 2018-01-28.

External links

  • Official website
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