SOUTHLAKE, Texas, Dec. 3, 2021 /PRNewswire/ -- Sabre
Corporation [NASDAQ: SABR] and American Express Global
Business Travel (GBT) today announce a long-term, multi-faceted
strategic partnership focused on developing technologies that will
enable the future of corporate travel distribution.
Under the terms of this newly expanded technology partnership –
which takes effect in January 2022 –
GBT will increase its commitment with Sabre and make a
multi-million dollar, long-term annual investment in joint
technology development with Sabre over the next ten years. The
partnership between two industry leaders puts the two companies in
an ideal position to deliver best-in-class products and services
throughout the corporate travel ecosystem and drive meaningful
growth to both companies and the travel ecosystem in its
entirety.
"While the pandemic has undoubtedly challenged the travel
industry, we firmly believe in a robust recovery over time,
particularly in corporate travel," said Sean Menke, President and Chief Executive
Officer at Sabre. "However, the expectations of corporate travelers
and corporations have fundamentally changed; the demand for new,
differentiated products that are designed for specific travelers'
needs is likely to be more pronounced. Our strategic partnership
with GBT is rooted in the common beliefs we share regarding the
technology needs which will enable participants throughout the
travel ecosystem to meet these new demands. We look forward
to our expanded commercial relationship with GBT and partnering
with them for many years to come."
Together, the companies will work to accelerate product
innovation and develop a distribution eco-system that meets the
future needs of customers and suppliers. This will include
collaborating on corporate travel booking capabilities that enhance
value to customers and suppliers, accelerating merchandising and
retailing solutions, and enabling efficient and superior customer
service.
"As industry thought leaders, GBT and Sabre will define the
future by developing distribution software and capabilities that
provide our customers and supplier partners with the value, choice
and experiences they expect," said Paul
Abbott, CEO, American Express Global Business Travel.
"Combining Sabre's retailing and content aggregation
capabilities and GBT's corporate customer software and world class
customer service, will enable us to deliver the business travel
experiences corporate travelers want."
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 American Express Global Business
Travel
American Express Global Business Travel (GBT)
is the world's leading B2B travel platform, providing software and
services to manage travel, expenses, and meetings & events for
companies of all sizes. We have built the most valuable marketplace
in B2B travel to deliver unrivalled choice, value and experiences.
With travel professionals in more than 140 countries, our customers
and travelers enjoy the powerful backing of American Express Global
Business Travel. www.amexglobalbusinesstravel.com
SABR-F
Contacts
Sabre
Media
Kristin Hays
Kristin.hays@sabre.com
Jess Matthias
Jess.matthias@sabre.com
Heidi Castle
Heidi.castle@sabre.com
Sabrenews@sabre.com
Investor Relations
Kevin Crissey
sabre.investorrelations@sabre.com
American Express Global Business Travel
Megan Kat
megan.kat@amexgbt.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," "future," "believe," "plan," "guidance," "outlook,"
"anticipate," "will," "forecast," "continue," "strategy,"
"estimate," "project," "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
benefits and results of the partnership contemplated herein, the
severity, extent and duration of the global COVID-19 pandemic,
including any variants, 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, including
travel restrictions, 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
the impact of changes in these transaction volumes 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, travel
suppliers' usage of alternative distribution models, 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
breaches, 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, the execution, 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, our
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, the effects
of any litigation and regulatory reviews and investigations,
adverse global and regional economic and political conditions,
including, but not limited to, economic conditions in countries or
regions with traditionally high levels of exports to China or that have commodities-based economies
and the effect of "Brexit", risks arising from global operations,
reliance on the value of our brands, failure to comply with
regulations, use of third-party distributor partners, 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 November 2, 2021, in
our Annual Report on Form 10-K filed with the SEC on February 25, 2021 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, we undertake no obligation to publicly update or
revise any forward-looking statements to reflect circumstances or
events after the date they are made.
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SOURCE Sabre Corporation