Sabre Corp

Sabre Corp is a U.S.-based travel technology company organized around a business-to-business marketplace that connects travel suppliers with travel buyers. Through its operating subsidiaries, it provides global distribution services and software systems for airlines and other travel companies, with operations centered in the United States and commercial reach across major travel regions worldwide.

14,5 %

56,4 %

18,9 %

+1,0 %

1.07

1.07

— Sabre Corp
%
Travel distribution45% GDS and marketplace services that connect travel suppliers with travel buyers.
Airline IT solutions35% Reservation, commercial, operations, and retailing software for airlines.
Agency solutions10% Tools for travel agencies including payments, media, and workflow products.
Professional services and implementation10% Upfront fees and services tied to deployment and support of software products.

Sabre sells primarily to travel suppliers and travel buyers, with airlines, hotels, car rental brands, rail carriers,...

  • Airlinesprimary

    Buy reservation systems, retailing tools, and commercial/operations software to sell and manage travel inventory.

  • Travel agencies and OTAsprimary

    Use the GDS and marketplace to search, compare, and book travel content for end travelers.

  • Travel management companies and corporate travel departmentssecondary

    Buy booking access and workflow tools for managed business travel programs.

  • Hotels and other travel supplierssecondary

    Use distribution channels and software to broaden reach and improve merchandising.

  • Rail, cruise, car rental, and tour operatorssecondary

    Connect inventory to travel buyers through the marketplace and distribution network.

Sabre measures a key operating metric, Direct Billable Bookings, across North America, EMEA, APAC, and Latin America...

  • •North America was 58% of Direct Billable Bookings in 2025
  • •APAC contributed 19% of Direct Billable Bookings in 2025
  • •EMEA contributed 16% of Direct Billable Bookings in 2025
  • •Latin America contributed 7% of Direct Billable Bookings in 2025
  • •Regional partners help extend GDS reach in EMEA and APAC

Sabre’s strategy centers on combining travel distribution with airline software in a single marketplace that helps...

01
Expand airline technology adoptionmedium-term

Software products increase customer stickiness and broaden the platform beyond bookings.

02
Strengthen marketplace connectivitymedium-term

A broader network of suppliers and buyers improves content depth and distribution value.

03
Use partners to extend regional reachshort-term

Third-party distributor partners help scale access where Sabre does not fully control local operations.

Sabre depends on renewing customer and partner agreements, and losing key travel buyers or suppliers could reduce...

high

Contract renewal and customer retention risk

The marketplace depends on renewing agreements with travel buyers and suppliers on acceptable terms.

Scope
Travel Solutions agreements and distribution relationships
Materiality
high
high

Customer concentration

A small number of customers can have an outsized impact if one is lost or disrupted.

Scope
Revenue concentration among key accounts
Materiality
high
high

Cybersecurity and data protection

The company processes PCI and PII data, so breaches can create liability, downtime, and reputational harm.

Scope
Customer and employee data, payment card data
Materiality
high
medium

Third-party partner dependence

Sabre relies on distributor partners and equity method investments in some regions without full operational control.

Scope
EMEA and APAC distribution
Materiality
high
medium

Goodwill and intangible asset impairment

Large acquired intangible balances depend on future booking volumes, discount rates, and growth assumptions.

Scope
Goodwill and intangible assets
Materiality
high
Revenue recognition and multiple performance obligations
Can shift revenue between periods and affect comparability
Goodwill and intangible asset impairment
Potential non-cash charges if travel volumes or growth assumptions weaken
Tax assets and liabilities
Can materially change effective tax rate and cash tax profile
Loss contingencies and litigation
Can create volatility in operating expenses and liabilities

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: 29.4.2026