Sabre Corp sells hospitality business for $1.1B

By Philip Seaworth • Monday, July 07 15:24 • Permanent Link

Sabre Corporation has recently announced the completion of the sale of its hospitality solutions business to TPG for $1.1 billion, with $960 million net of taxes and fees. The majority of the net proceeds, totaling $960 million, will be used to pay down debt. Sabre's President and CEO, Kurt Ekert, expressed his satisfaction with the transaction, emphasizing its importance in the company's ongoing transformation.

This sale represents a significant move for Sabre as it aims to reduce its net leverage, optimize its portfolio, and focus on sustainable growth. The company is keen on positioning itself for long-term success, and the sale of the hospitality solutions business is aligned with this objective.

Sabre Corporation, headquartered in Southlake, Texas, is a prominent technology company in the travel industry, serving customers in over 160 countries globally. The market has reacted to these announcements by moving the company's shares -2.19% to a price of $3.345. For more information, read the company's full 8-K submission here.

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