Sabre Corporation’s revenue increased by 7.3 percent to $900.6 million in the third quarter of 2017, the technology provider said in an announcement on Tuesday. The financial results for the quarter ended September 30.
“We executed well this quarter with renewed focus and better organizational alignment and, as a result, delivered solid growth and profitability,” said Sean Menke, Sabre president and CEO.
According to the results, for the third quarter, airline and hospitality solutions revenue grew 4.8 percent to $274.9 million, supported by 7.7 percent passengers boarded growth on a consistent carrier basis and hospitality solutions growth in the mid-teens.
Travel network revenue increased 8.6 percent to $632.3 million with global bookings growth of 3.2 percent in the quarter. The revenue was driven by bookings growth in higher value markets, such as EMEA (up by 16 percent), and growth in Asia-Pacific (up by 10.8 percent). Bookings declined 1.9 percent in North America and 1.9 percent in Latin America – dampened by the impact of recent hurricanes in the U.S. and Caribbean.
“Overall, it was a solid quarter in terms of both performance and execution, which we expect will position us well to achieve our guidance for the full year,” Menke said.
Sabre’s key customer wins include Travelgenio, the second largest OTA in Spain, Shenzhen Airlines and China Airlines, and Rydges Hotel Group and Sokos Hotels. Moreover, the company’s Airline Solutions delivery team completed over 40 customer implementations, including its SabreSonic reservation system and a broad suite of solutions at Air Niugini.
“As we hit the homestretch of the fourth quarter, we remain steadfast in our efforts to bring increased focus and discipline to the organization, while we continue to invest with the clear objective to be a leading technology partner to the travel industry,” Menke said.
“Our customers need our help not only with efficient, multi-channel distribution, but in implementing new standards and technologies as they prepare for the future,” he added.