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:
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:
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.
SOURCE Sabre Corporation
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