Expanded agreement anticipates meaningful
growth in GDS bookings through Sabre
Two like-minded companies dedicated to
co-investment and collaboration of innovative solutions that will
seek to accelerate the technology-driven evolution of the
industry
SOUTHLAKE, Texas, Oct. 31,
2022 /PRNewswire/ -- Sabre Corporation (NASDAQ:
SABR) and BCD Travel today announced a long-term,
multi-faceted strategic partnership that is expected to drive
meaningful growth and advancement for both companies and across the
travel ecosystem.
Under the newly expanded and long-term technology agreement, BCD
Travel expects to increase its booking levels with Sabre.
Additionally, the two companies will jointly invest and collaborate
on new and advanced solutions that will help accelerate the
technology-driven evolution underway across the corporate travel
ecosystem.
"BCD Travel is a long-time, valued Sabre partner. Over the
years, we've tackled industry challenges, innovated and grown
together. Today, we take another important step in our partnership
as we mutually commit to advancing the future of the travel," said
Kurt Ekert, president of Sabre.
"This agreement demonstrates our continuing commitment to helping
BCD achieve its objectives to differentiate its offerings, improve
operational efficiency and grow. Whether that takes the form of
providing solutions, or enabling solutions, we will continue to
build and sustain the value-added relationship we've enjoyed with
BCD for so many years."
The partnership will see the two industry leaders focus on
creative solutions for managing growing complexities and evolving
customer expectations as well as transforming the impacts of
technology and marketplace dynamics into opportunities. Sabre will
continue to utilize its technical expertise, innovative energies
and corporate stability to help enable BCD's success globally.
"This agreement is in line with our strategy to improve our
agility, flexibility and responsiveness in a shifting environment,"
said BCD Travel CEO and President John
Snyder. "By extending our long-standing partnership with
Sabre, we'll streamline our distribution technology footprint and
simplify our operational, technical and future development
infrastructure, allowing us to move more rapidly on our clients'
behalf as we innovate, anticipate and adjust to emerging market
opportunities. As we focus on post-Covid travel complexities and
engage on deeper technology collaboration and joint development
areas, we will enhance our speed to market with functionalities to
improve travelers' planning and booking experience including
bringing NDC to life."
As BCD and Sabre extend and deepen their existing relationship,
both companies are expected to benefit as Sabre pursues its
ambitious goals of:
- Accomplishing its tech transformation with cloud migration,
microservice enabled architecture, and use of the latest smart
technologies and digital innovations like AI and ML for a
future-ready environment both Sabre and BCD can utilize.
- Continuing to champion balanced supplier distribution economics
on behalf of travel industry constituents for the content access
our customers need.
- Delivering premium retailing, distribution and fulfillment
capabilities, including NDC-enabled solutions, across the value
chain.
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.
About BCD Travel
BCD Travel helps companies make the most of what they spend on
travel. We give travelers innovative tools that keep them safe and
productive and help them make good choices on the road. We partner
with travel and procurement leaders to simplify the complexities of
business travel, drive savings and satisfaction, and move whole
companies toward their goals. In short, we help our clients travel
smart and achieve more. We make this happen in 106 countries with a
global client retention rate of 97%, the highest in the industry.
For more information, visit www.bcdtravel.com.
About BCD Group
BCD Group is a market leader in the travel industry. The
privately owned company was founded in 1975 by John Fentener van
Vlissingen and consists of BCD Travel (global corporate travel
management and its subsidiary BCD Meetings & Events, global
meetings and events agency) and Park 'N Fly (off-airport parking).
For more information, visit www.bcdgroup.com.
Forward-Looking
Statements
Certain statements herein are forward-looking statements about
trends, future events, uncertainties and our plans and expectations
of what may happen in the future. Any statements that are not
historical or current facts are forward-looking statements. In many
cases, you can identify forward-looking statements by terms such as
"expect," "anticipate," "seek," will," "believe," "estimate,"
"project," "possible," "may," "should," "would," "intend,"
"potential," or the negative of these terms or other comparable
terminology. Forward-looking statements involve known and unknown
risks, uncertainties and other factors that may cause Sabre's
actual results, performance or achievements to be materially
different from any future results, performances or achievements
expressed or implied by the forward-looking statements. The
potential risks and uncertainties include, among others, the
severity, extent and duration of the global COVID-19 pandemic and
its impact on our business and results of operations, financial
condition and credit ratings, as well as on the travel industry and
consumer spending more broadly, the actions taken to contain the
disease or treat its impact, the effectiveness and rate of
vaccinations, the effect of remote working arrangements on our
operations and the speed and extent of the recovery across the
broader travel ecosystem, dependency on transaction volumes in the
global travel industry, particularly air travel transaction
volumes, including from airlines' insolvency, suspension of service
or aircraft groundings, the effect of cost savings initiatives, the
timing, implementation and effects of the technology investment and
other strategic initiatives, the completion and effects of travel
platforms, exposure to pricing pressure in the Travel Solutions
business, changes affecting travel supplier customers, maintenance
of the integrity of our systems and infrastructure and the effect
of any security incidents, failure to adapt to technological
advancements, competition in the travel distribution market and
solutions markets, implementation of software solutions, reliance
on third parties to provide information technology services and the
effects of these services, implementation and effects of new,
amended or renewed agreements and strategic partnerships, including
anticipated savings, dependence on establishing, maintaining and
renewing contracts with customers and other counterparties and
collecting amounts due to us under these agreements, dependence on
relationships with travel buyers, collection, processing, storage,
use and transmission of personal data and risks associated with PCI
compliance, our ability to recruit, train and retain employees,
including our key executive officers and technical employees, the
financial and business results and effects of acquisitions and
divestitures of businesses or business operations, reliance on the
value of our brands, the effects of any litigation and regulatory
reviews and investigations, adverse global and regional economic
and political conditions, including, but not limited to,
recessionary or inflationary economic conditions, risks related to
the current military conflict in Ukraine, risks arising from global operations,
reliance on the value of our brands, the effects of new legislation
or regulations or the failure to comply with regulations or other
legal requirements, use of third-party distributor partners, risks
related to our significant amount of indebtedness, the effects of
the implementation of new accounting standards and tax-related
matters. More information about potential risks and
uncertainties that could affect our business and results of
operations is included in the "Risk Factors" and "Forward-Looking
Statements" sections in our Quarterly Report on Form 10-Q filed
with the SEC on August 2, 2022, in
our Annual Report on Form 10-K filed with the SEC on February 18, 2022 and in our other filings with
the SEC. Although we believe that the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee
future events, outlook, guidance, results, actions, levels of
activity, performance or achievements. Readers are cautioned not to
place undue reliance on these forward-looking statements. Unless
required by law, Sabre undertakes no obligation to publicly update
or revise any forward-looking statements to reflect circumstances
or events after the date they are made.
SABR-F
Sabre Contacts:
Media
Kristin Hays
Kristin.hays@sabre.com
Heidi Castle
heidi.castle@sabre.com
Investors
Kevin
Crissey
sabre.investorrelations@sabre.com
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SOURCE Sabre Corporation