Yahoo Finance Sabre (SABR) Renews Agreement With Taiwan's South East Travel
Sabre Corporation SABR recently signed a long-term technology renewal agreement with Taiwan’s South East Travel. Per the renewed contract, the Taipei-headquartered agency will continue to leverage Sabre products for expanding its business and improving operational efficiency.
South East Travel will deploy Sabre Red 360, a point-of-sale tool that offers a full spectrum of bookable content to the agents enabling them to create, sell and service customized trip experiences. Currently, the Taiwanese agency is utilizing Sabre Ticket Express, Automated Exchanges, Automated Refunds and Bargain Finder Max platforms.
The latest agreement will aid South East Travel to drive growth and meet traveler’s expectations. It will automate repetitive tasks, increase productivity, reduce operational costs, understand customer preferences and ensure that agents create optimum offers for both leisure and corporate travelers.
Sabre Corporation Price and Consensus
Sabre Corporation price-consensus-chart | Sabre Corporation Quote
In the first quarter of 2023, Sabre’s the Travels Solutions segment revenues totaled $677.4 million compared with the year-ago quarter’s $534 million. This upside was mainly fueled by the gradual recovery of global air and other travel bookings, partially offset by the sale of the AirCentre portfolio in February 2022. The segment’s revenues also benefited from favorable rate impacts as international and corporate bookings improved.
Sabre has more than 425,000 travel agency partners worldwide at present. The company provides one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually.
The leading travel-related software and technology provider has its customer base in more than 160 nations globally. In March, the company signed an agreement with Singapore-based Capillary Technologies to integrate the Capillary loyalty management solution into its airlines and hoteliers platforms.
In a separate deal, Sabre inked a technology agreement with Almatar Travel Group, a leading travel company in the Kingdom of Saudi Arabia. This deal was to provide SABR’s industry-leading technology and solutions for speeding up Almatar’s operational efficiency, improve its strategy of virtual payments and transform travelers’ experience.
In the same month, Sabre declared Brazil’s GOL Linhas Aéreas’ successful implementation of Sabre Ancillary IQ. The Ancillary IQ is an artificial intelligence-based solution designed to help create personalized offers for travelers and drive incremental ancillary revenue opportunities for airline customers.
The company also signed a distribution agreement with Bangladesh start-up airline, Air Astra, in March. The Dhaka-based carrier has joined Sabre’s global distribution family to support its indirect retailing strategy as it plans for future growth.
Sabre reported revenues of $742.7 million for first-quarter 2023. The top line was 27% higher than $584.9 million in the year-ago period. This surge clearly reflected a significant improvement in the company’s global air, hotel and other bookings.
Zacks Rank & Key Picks
Sabre currently carries a Zacks Rank #3 (Hold). Shares of SABR have lost 52.6% over the past year.
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NOW's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 10.4%. Shares of the company have inched up 5.1% in the past year.
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