SOUTHLAKE, Texas, June 4, 2020 /PRNewswire/ -- Sabre
Corporation (NASDAQ: SABR), the leading software
and technology Company that powers the global travel industry,
announced today that it is taking critical steps to successfully
position the Company for long-term growth. This includes the
strategic realignment of its airline and agency-focused businesses,
as well as other measures to support the new organizational
structure.
Sean Menke, Sabre's president and
chief executive officer stated, "Today, we announced a critical
step toward completing our transformation into a new Sabre. We
began this transformational journey over two years ago with the
unveiling of our SabreNext strategy and the creation of our Travel
Solutions organization. Our leadership team has completed plans to
strategically realign and fully combine Sabre's airline and
agency-focused businesses to provide a stronger, more seamless
experience for our customers."
A New Sabre: Strategically Realigning its Business
Sabre's leadership team has been driving transformational change
and building a foundation to position the Company for growth. The
team has been 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. Today, the Company
announced a critical step toward completing its transformation to
better serve its customers and generate long-term growth
opportunities across the business.
Menke continued, "Sabre is mission-critical to the travel
ecosystem. While we had to put certain initiatives and technology
investments on hold in response to the COVID-19 pandemic, we remain
steadfast in our commitment to helping our customers operate more
efficiently, drive revenue and offer personalized travel
experiences that benefit travellers, travel suppliers, and
agencies. This pandemic has caused major shifts in the travel
ecosystem resulting in the changing needs of our airline, hotel and
agency customers. We have taken this opportunity to accelerate the
organizational changes we began in 2018 to address the changing
travel landscape. Sabre's new organization is built upon the
premise that the retailing, distribution and fulfillment of travel
will continue to evolve over the next decade and each of these
elements will become even more interconnected and
interdependent."
One Sabre: Delivering Value to Customers Through a Collective
Lens
The strategic realignment of its business segments will further
enable Sabre to deliver on its promise to retail, distribute and
fulfill travel by serving its airline and agency customers through
a collective lens. In addition, the Company reaffirms its long-term
vision to create a new market for personalized travel, as it takes
steps to become the technology platform positioned at the center of
the business of travel. The Company also remains committed to the
strategic initiatives it first announced in February of this
year.
To that end, Sabre will continue to:
- Focus on creating personalized offers with IT
capabilities, processes and intelligence that allow suppliers to
retail personalized offers through all channels, with an eye toward
delivering experiences that today's travelers want and unlocking
more value per passenger boarded.
- Drive the future of distribution, including NDC, by
increasing the value of supplier offers and the value of the GDS,
enabling airlines to distribute personalized offers through the
Company's marketplace and through their direct channels.
- Unlock growth potential in the fast-growing low cost carrier
(LCC) market by creating more ways for LCCs to retail and
distribute content and scaling the offerings of recently-acquired
Radixx.
- Deliver a full-service property management system to
better serve enterprise hotels, collaborating with Accor, to build
a full service property management system that will combine with
its best-in-class central reservation and state-of-the-art limited
service property management systems 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 10-year preferred,
strategic partnership with Google that includes: (1) improving
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; (2)
utilizing Google's data analytics tools to enable Sabre to enhance
the capabilities of current and future products; and (3) designing
a broader innovation framework with Google that seeks to optimize
the talent and assets of both companies to imagine, develop and
deploy future capabilities that will advance the travel ecosystem,
benefiting all market participants.
The Sabre Team: Creating a lean, focused and rewarded
workforce
In addition to its business realignment, to further position the
Company for success, Sabre announced several measures it will
implement with regard to its global workforce. More specifically,
the Company shared the following:
- Team member furloughs will end on or before July 6, 2020
- By July 6, 2020, Sabre will
restore employee compensation back to 100% of base pay, ending
voluntary and involuntary pay reductions that took effect in March
and April across the world
- Sabre is adopting a flexible, safe and productive remote work
program that will enable its global workforce to "work from
anywhere," to the extent work from home/remote work programs are
allowed under local laws.
- A right-sizing of the Company's global organization includes a
reduction in force that is expected to impact approximately 800
team members across 43 office locations. This is in addition to the
separation of approximately 400 participants in Sabre's previously
announced voluntary severance and voluntary early retirement
programs.
The Company's strategic realignment and related actions are
expected to be substantially complete early in the third quarter of
2020. Further details regarding the new Travel Solutions
organization and leadership team will be announced publicly in
early July, when the new structure goes into effect.
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.
SABR-F
Contacts:
Media
Kristin Hays
kristin.hays@sabre.com
Heidi Castle
heidi.castle@sabre.com
sabrenews@sabre.com
Investors
Kevin
Crissey
kevin.crissey@sabre.com
sabre.investorrelations@sabre.com
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SOURCE Sabre Corporation