December 14, 2017
Hotelbeds targets 10,000 directly contracted properties in three years
The aim is to gain the best prices, under the best terms and conditions, for the group's 60,000 travel intermediary clients globally.Read more
In 2011, Travelocity’s revenue fell 5.3% in 2011 to $825.3 million primarily driven by a $31 million decline in transaction revenue. What's more, Sabre acknowledges that Travelocity has incurred several years of operating losses, and has shown an inability to scale its business.
Sabre made some money in 2011, but its Travelocity business, beset by a decline in transaction revenue and unfavorable new airline agreements, dragged those numbers down.
The Southlake, Texas-headquartered global distribution, IT and online travel business went private in 2007 when it was acquired by TPG and Silver Lake and hasn’t publicly released its financial results since March 2009, but Sabre disclosed them to investors in late April 2012 in connection with a $400 million offering of senior secured notes.
The confidential document, which also revealed plans for an acquisition in Q2 2012, noted that Sabre posted operating income of $152.3 million in 2011, compared with a $38.8 million operating loss in 2010, on $3.01 billion in 2011 revenue last year.
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