Sabre Sees 6.9% Rise in Q3 Revenue

Travel technology solutions provider Sabre reported a 6.9 percent rise in third quarter revenue, the company said this week.

The US-based company’s Airline and Hospitality Solutions takings also improved by 19.8 percent. Contributing to the enhanced performance was a 45.3 percent increase in airline passengers boarded through the SabreSonic reservation solution.

Sabre’s Hospitality Solutions also posted nearly 45 percent revenue growth driven by ongoing momentum behind its leading SynXis Central Reservations solution and an acquisition in the first quarter of 2016.

Sabre’s Travel Network revenue rose 2.3 percent with air bookings growth up by 3 percent in every region of the world. Overall bookings grew by 2.4 percent.

Sabre President and CEO Tom Klein said that though consolidated revenue and earnings growth rates did not meet the standards set for the business, most aspects of underlying business performance remained strong.

“Our continued investment, new sales and current travel agency implementations in the quarter will benefit us in the fourth quarter and the near future. As we have said all year, we expect strong top-line growth and margin performance in the fourth quarter and are seeing some signs of that as we speak, setting up for a solid step-off into 2017,” Klein added.

Sabre’s Travel Network business is set in 2017 to launch its new Sabre Red Workspace operating platform for travel agents. The system provides market insights and data analytics to help them provide better information to customers, leading to more transactions and higher sales volumes.

Based in Texas, Sabre serves customers in more than 160 countries around the world and employs some 10,000 people worldwide.