Latest news with #SynXis
Yahoo
29-04-2025
- Business
- Yahoo
Sabre to cut debt with $1.1 billion sale of hospitality software to TPG, shares jump
By Aatreyee Dasgupta (Reuters) -Sabre Corp said on Monday it will sell its hospitality software platform to asset manager TPG for $1.1 billion and use the cash to pare its debt, lifting the travel technology provider's shares nearly 26% in early trading. The stock is now up 13.5%. The company had a market capitalization of $845 million as of last close, according to data compiled by LSEG. In contrast, its total debt stood at about $4.5 billion, net of cash, as of the end of December, according to its annual filing. Sabre has made several moves to pare its debt, including a refinancing in December and the repayment of debt maturities earlier this month, the company said. Monday's deal comes a month after Reuters reported that Sabre was exploring a sale of its hospitality software SynXis to help pare its debt. TPG will invest in the unit through its U.S. and European private equity platform, with the transaction expected to close by the end of the third quarter 2025. Sabre's SynXis serves as an integrated system of record for reservation and guest information for hotels. The company's customers include top airlines, travel agencies, hotels, tour operators, car rental brands and rail carriers. "This divestiture positions Sabre to focus on our core airline IT and travel marketplace platforms," said CEO Kurt Ekert. The deal also comes at a time of uncertainty for the travel industry due to fears of an economic recession stemming from U.S. President Donald Trump's sweeping import tariffs. Many airlines, including legacy carriers Delta, Southwest and American, have withdrawn their full-year financial forecasts in view of the ambiguity. "Amid uncertain near-term travel demand and enduring elevated financing costs, the sale should alleviate investor concerns about Sabre's ability to meet its debt obligations and continue financing its core distribution business, given its 2024 debt/adjusted EBITDA ratio of 10 times," analyst Dan Wasiolek said in a Morningstar note. Sign in to access your portfolio
Tourism Breaking News
21-04-2025
- Business
- Tourism Breaking News
Kerzner International renews long-standing agreement with Sabre Hospitality to strengthen its commerce solutions within the SynXis® Booking Engine
Post Views: 106 Sabre Hospitality announced a renewal agreement with Kerzner International, optimizing its distribution with retailing capabilities through Sabre's SynXis platform. By leveraging the SynXis Booking Engine, Kerzner will be offering ancillaries alongside room reservations. Additionally, Kerzner has renewed its agreement to distribute hotel content through Sabre Hospitality's Global Distribution System network. Kerzner is a leading international developer and operator of destination resorts, ultra-luxury hotels and residences and innovative entertainment and hospitality experiences and has a total of 23 properties located globally across Dubai, Sanya, Cape Town, Malaysia, Rwanda, Greece, Mauritius, Mexico, Maldives, Morocco, USA and Montenegro. As a long-time Sabre Hospitality customer, Kerzner's expertise in the Middle East alongside Sabre's SynXis platform has helped provide suppliers and distributors increased access, personalization, and revenue opportunities. 'Sabre is a trusted provider for all of our distribution needs, and we are excited to roll out retailing across the portfolio in the coming months ahead within SynXis Booking Engine to help us increase new revenue streams previously untapped,' said Sandrine Bittencourt, Director Global Distribution, Kerzner International. The SynXis Central Reservation System (SynXis CRS) helps hoteliers achieve consistent distribution across channels including online travel agencies (OTAs), global distribution systems (GDSs), booking engines, and call centers at a corporate or property level. The technology also provides a single interface to facilitate decisions across stakeholders and maintain advanced controls across preferred distribution channels. SynXis Retailing empowers hotels to sell experiences, goods, policies, and services with or without a room reservation. 'We are supporting a foundation for growth through our distribution and retailing solutions that help hotels generate revenue today while also equipping them to excel in the future travel ecosystem,' said Frank Trampert, Senior Vice President & Global Managing Director Commercial, Sabre Hospitality. 'Hotels using SynXis Retailing earned an average of $300 in additional spend per booking, with top-performing properties projected to exceed $1 million in non-room revenue annually. Kerzner saw an increase of nearly 97 percent in transaction growth from 2022 to 2024 through its use of the SynXis CRS and custom technology usage through Sabre Hospitality's platform.'
Trade Arabia
20-04-2025
- Business
- Trade Arabia
Kerzner renews its deal with Sabre to enhance SynXis
Sabre Hospitality, a division of Sabre Corporation, has renewed its agreement with Kerzner International to optimise its distribution and retailing capabilities through Sabre's SynXis platform. Kerzner will offer ancillaries alongside room reservations and will distribute hotel content through Sabre Hospitality's Global Distribution System network. Kerzner, a leading international developer and operator of destination resorts, ultra-luxury hotels, and residences, has 23 properties worldwide. Sabre's SynXis platform has helped suppliers and distributors increase access, personalisation, and revenue opportunities in the Middle East. 'Sabre is a trusted provider for all of our distribution needs, and we are excited to roll out retailing across the portfolio in the coming months ahead within SynXis Booking Engine to help us increase new revenue streams previously untapped,' said Sandrine Bittencourt, Director Global Distribution, Kerzner International. The SynXis Central Reservation System (SynXis CRS) helps hoteliers achieve consistent distribution across channels including online travel agencies (OTAs), global distribution systems (GDSs), booking engines, and call centers at a corporate or property level. The technology also provides a single interface to facilitate decisions across stakeholders and maintain advanced controls across preferred distribution channels. SynXis Retailing empowers hotels to sell experiences, goods, policies, and services with or without a room reservation. 'We are supporting a foundation for growth through our distribution and retailing solutions that help hotels generate revenue today while also equipping them to excel in the future travel ecosystem,' said Frank Trampert, Senior Vice President & Global Managing Director Commercial, Sabre Hospitality. 'Hotels using SynXis Retailing earned an average of $300 in additional spend per booking, with top-performing properties projected to exceed $1 million in non-room revenue annually. Kerzner saw an increase of nearly 97 percent in transaction growth from 2022 to 2024 through its use of the SynXis CRS and custom technology usage through Sabre Hospitality's platform.'
Zawya
20-04-2025
- Business
- Zawya
Kerzner International renews long-standing agreement with Sabre Hospitality
SOUTHLAKE, Texas and DUBAI, United Arab Emirates – Sabre Hospitality, a division of Sabre Corporation (NASDAQ: SABR) a leading global travel technology company, has announced a renewal agreement with Kerzner International, optimizing its distribution with retailing capabilities through Sabre's SynXis platform. By leveraging the SynXis Booking Engine, Kerzner will be offering ancillaries alongside room reservations. Additionally, Kerzner has renewed its agreement to distribute hotel content through Sabre Hospitality's Global Distribution System network. Kerzner is a leading international developer and operator of destination resorts, ultra-luxury hotels and residences and innovative entertainment and hospitality experiences and has a total of 23 properties located globally across Dubai, Sanya, Cape Town, Malaysia, Rwanda, Greece, Mauritius, Mexico, Maldives, Morocco, USA and Montenegro. As a long-time Sabre Hospitality customer, Kerzner's expertise in the Middle East alongside Sabre's SynXis platform has helped provide suppliers and distributors increased access, personalization, and revenue opportunities. 'Sabre is a trusted provider for all of our distribution needs, and we are excited to roll out retailing across the portfolio in the coming months ahead within SynXis Booking Engine to help us increase new revenue streams previously untapped,' said Sandrine Bittencourt, Director Global Distribution, Kerzner International. The SynXis Central Reservation System (SynXis CRS) helps hoteliers achieve consistent distribution across channels including online travel agencies (OTAs), global distribution systems (GDSs), booking engines, and call centers at a corporate or property level. The technology also provides a single interface to facilitate decisions across stakeholders and maintain advanced controls across preferred distribution channels. SynXis Retailing empowers hotels to sell experiences, goods, policies, and services with or without a room reservation. 'We are supporting a foundation for growth through our distribution and retailing solutions that help hotels generate revenue today while also equipping them to excel in the future travel ecosystem,' said Frank Trampert, Senior Vice President & Global Managing Director Commercial, Sabre Hospitality. 'Hotels using SynXis Retailing earned an average of $300 in additional spend per booking, with top-performing properties projected to exceed $1 million in non-room revenue annually. Kerzner saw an increase of nearly 97 percent in transaction growth from 2022 to 2024 through its use of the SynXis CRS and custom technology usage through Sabre Hospitality's platform.' About Sabre Corporation Sabre Corporation is a leading technology company that takes on the biggest opportunities and solves the most complex challenges in travel. Sabre harnesses speed, scale and insights to build tomorrow's technology today – empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Headquartered in Southlake, Texas, USA, with employees across the world, Sabre serves customers in more than 160 countries globally. For more information visit About Kerzner Kerzner International Holdings Limited, through its subsidiaries, is a leading international developer and operator of destination resorts, ultra-luxury hotels and residences and innovative entertainment and hospitality experiences. Kerzner's flagship brand Atlantis includes Atlantis, The Palm and Atlantis, The Royal Resort & Residences, both in Dubai, as well as Atlantis, Sanya Hainan in China. Under the One&Only brand, Kerzner manages some of the most top-rated ultra-luxury resorts in the world, located in Greece, Montenegro, Mexico, Mauritius, the Maldives, South Africa, Dubai, Rwanda, Malaysia and USA. Kerzner's newest hospitality brand is SIRO, the ultimate hotel for an active lifestyle. The first SIRO is open at SIRO One Za'abeel in Dubai, with additional hotels announced in Montenegro, Saudi Arabia and Mexico. Rare Finds, a collection of resorts that celebrates the essence of a place and authentic, soulful experiences, launched in February 2023 with the re-opening of Bab Al Shams in Dubai. For more information on our brands, please visit: and SABR-F Media Contacts: Fatin Said sabrenews@ Kerzner media@
Associated Press
17-04-2025
- Business
- Associated Press
Kerzner International renews long-standing agreement with Sabre Hospitality to strengthen its commerce solutions within the SynXis® Booking Engine
SOUTHLAKE, Texas and DUBAI, United Arab Emirates, April 17, 2025 /PRNewswire/ -- Sabre Hospitality, a division of Sabre Corporation (NASDAQ: SABR) a leading global travel technology company, has announced a renewal agreement with Kerzner International, optimizing its distribution with retailing capabilities through Sabre's SynXis platform. By leveraging the SynXis Booking Engine, Kerzner will be offering ancillaries alongside room reservations. Additionally, Kerzner has renewed its agreement to distribute hotel content through Sabre Hospitality's Global Distribution System network. Kerzner is a leading international developer and operator of destination resorts, ultra-luxury hotels and residences and innovative entertainment and hospitality experiences and has a total of 23 properties located globally across Dubai, Sanya, Cape Town, Malaysia, Rwanda, Greece, Mauritius, Mexico, Maldives, Morocco, USA and Montenegro. As a long-time Sabre Hospitality customer, Kerzner's expertise in the Middle East alongside Sabre's SynXis platform has helped provide suppliers and distributors increased access, personalization, and revenue opportunities. 'Sabre is a trusted provider for all of our distribution needs, and we are excited to roll out retailing across the portfolio in the coming months ahead within SynXis Booking Engine to help us increase new revenue streams previously untapped,' said Sandrine Bittencourt, Director Global Distribution, Kerzner International. The SynXis Central Reservation System (SynXis CRS) helps hoteliers achieve consistent distribution across channels including online travel agencies (OTAs), global distribution systems (GDSs), booking engines, and call centers at a corporate or property level. The technology also provides a single interface to facilitate decisions across stakeholders and maintain advanced controls across preferred distribution channels. SynXis Retailing empowers hotels to sell experiences, goods, policies, and services with or without a room reservation. 'We are supporting a foundation for growth through our distribution and retailing solutions that help hotels generate revenue today while also equipping them to excel in the future travel ecosystem,' said Frank Trampert, Senior Vice President & Global Managing Director Commercial, Sabre Hospitality. 'Hotels using SynXis Retailing earned an average of $300 in additional spend per booking, with top-performing properties projected to exceed $1 million in non-room revenue annually. Kerzner saw an increase of nearly 97 percent in transaction growth from 2022 to 2024 through its use of the SynXis CRS and custom technology usage through Sabre Hospitality's platform.' About Sabre Corporation Sabre Corporation is a leading technology company that takes on the biggest opportunities and solves the most complex challenges in travel. Sabre harnesses speed, scale and insights to build tomorrow's technology today – empowering airlines, hoteliers, agencies and other partners to retail, distribute and fulfill travel worldwide. Headquartered in Southlake, Texas, USA, with employees across the world, Sabre serves customers in more than 160 countries globally. For more information visit About Kerzner Kerzner International Holdings Limited, through its subsidiaries, is a leading international developer and operator of destination resorts, ultra-luxury hotels and residences and innovative entertainment and hospitality experiences. Kerzner's flagship brand Atlantis includes Atlantis, The Palm and Atlantis, The Royal Resort & Residences, both in Dubai, as well as Atlantis, Sanya Hainan in China. Under the One&Only brand, Kerzner manages some of the most top-rated ultra-luxury resorts in the world, located in Greece, Montenegro, Mexico, Mauritius, the Maldives, South Africa, Dubai, Rwanda, Malaysia and USA. Kerzner's newest hospitality brand is SIRO, the ultimate hotel for an active lifestyle. The first SIRO is open at SIRO One Za'abeel in Dubai, with additional hotels announced in Montenegro, Saudi Arabia and Mexico. Rare Finds, a collection of resorts that celebrates the essence of a place and authentic, soulful experiences, launched in February 2023 with the re-opening of Bab Al Shams in Dubai. For more information on our brands, please visit: and SABR-F Media Contacts: Cassidy Smith-Broyles [email protected] Chandra Moyse [email protected] Investors Brian Evans [email protected] Kerzner [email protected] View original content to download multimedia: SOURCE Sabre Corporation
