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Sabre (SABR) & Almatar Travel Group Sign Technology Agreement
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Sabre Corporation (SABR - Free Report) recently inked a technology agreement with Almatar Travel Group, the leading travel company in the Kingdom of Saudi Arabia that provides travel products and services for government, corporate and leisure travel. Per the deal, the Arabic company will be leveraging the TX-based company’s industry-leading technology and solutions to speed up its operational efficiency, improve its strategy of virtual payments and transform travelers’ experience.
Signed at Riyadh’s Saudi Tourism Forum, the deal is a step forward in Almatar Travel Group’s plan of deploying advanced products and technologies with its unique position in the Saudi market to deliver a best-in-class travel experience. The company is leveraging Sabre’s extensive travel ecosystem to broaden its geographic scope and various travel content, including air, lodging, ancillary and New Distribution Capability (NDC) content.
Through Sabre’s point-of-sale tool, Sabre Red 360, Almatar will be able to differentiate its offering, compete more effectively, grow faster in the region and expand its online travel business. It will use Sabre’s application programming interface and Automation Hub, a consolidated technology solution that automates repetitive manual tasks like booking management, scheduling change alerts, Passenger Name Record documentation, cancellation and confirmation to deliver critical cost and time savings, lower operational costs by eliminating manual errors and consistently deliver quality service.
Moreover, the Middle-Eastern company will deploy Sabre Virtual Payments to optimize the value of its business-to-business (B2B) payments ensuring flexibility, increased fraud protection and security, accurate reconciliation and better automation and efficiency. Sabre Virtual payments is a secure payment solution that provides a unique, on-demand virtual card number tied into a specific travel event, spend amount, merchant category and date range. It seamlessly gets integrated into SABR Point-of-Sale, so that the travel agencies can reap benefits without disruption to the ongoing workflows.
The recent collaboration reflects the reliability of SABR’s Beyond NDC Program and Global Distribution System platform, which work like a marketplace connecting travel suppliers with buyers. This, in turn, is likely to aid the company in expanding its customer share in the Travel Solutions segment.
Last month, Sabre inked a similar strategic technology partnership with Simplenight, a global technology company that builds innovative enterprise solutions, including customizable book ability, cloud-based distribution, dynamic packaging and merchandising.
Per the contract, Simplenight leverages the TX-based company’s Virtual Payments solution as its B2B payment provider. Through this deal, SABR is anticipated to unveil new revenue opportunities while advancing traveler experience through its latest updates in retailing solutions.
Sabre has more than 425,000 travel agency partners worldwide at present. The company provides one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually.
The leading travel-related software and technology provider has its customer base spread more than 160 nations globally. Last week, Sabre declared Brazil’s GOL Linhas Aéreas’ successful implementation of Sabre Ancillary IQ. The Ancillary IQ is an artificial intelligence-based solution designed to help create personalized offers for travelers and drive incremental ancillary revenue opportunities for airline customers.
Earlier in March, the company signed a distribution agreement with Bangladesh start-up airline Air Astra. The Dhaka-based carrier has joined Sabre’s global distribution family to support its indirect retailing strategy as it plans for future growth.
Sabre reported revenues of $631 million in the fourth quarter of 2022. The top line was 26% higher than $501 million in the year-ago period. This surge clearly reflected a significant improvement in the company’s global air, hotel and other bookings.
Zacks Rank & Stocks to Consider
Sabre currently carries a Zacks Rank #3 (Hold). Shares of SABR plunged 62.8% in the past year.
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Sabre (SABR) & Almatar Travel Group Sign Technology Agreement
Sabre Corporation (SABR - Free Report) recently inked a technology agreement with Almatar Travel Group, the leading travel company in the Kingdom of Saudi Arabia that provides travel products and services for government, corporate and leisure travel. Per the deal, the Arabic company will be leveraging the TX-based company’s industry-leading technology and solutions to speed up its operational efficiency, improve its strategy of virtual payments and transform travelers’ experience.
Signed at Riyadh’s Saudi Tourism Forum, the deal is a step forward in Almatar Travel Group’s plan of deploying advanced products and technologies with its unique position in the Saudi market to deliver a best-in-class travel experience. The company is leveraging Sabre’s extensive travel ecosystem to broaden its geographic scope and various travel content, including air, lodging, ancillary and New Distribution Capability (NDC) content.
Through Sabre’s point-of-sale tool, Sabre Red 360, Almatar will be able to differentiate its offering, compete more effectively, grow faster in the region and expand its online travel business. It will use Sabre’s application programming interface and Automation Hub, a consolidated technology solution that automates repetitive manual tasks like booking management, scheduling change alerts, Passenger Name Record documentation, cancellation and confirmation to deliver critical cost and time savings, lower operational costs by eliminating manual errors and consistently deliver quality service.
Moreover, the Middle-Eastern company will deploy Sabre Virtual Payments to optimize the value of its business-to-business (B2B) payments ensuring flexibility, increased fraud protection and security, accurate reconciliation and better automation and efficiency. Sabre Virtual payments is a secure payment solution that provides a unique, on-demand virtual card number tied into a specific travel event, spend amount, merchant category and date range. It seamlessly gets integrated into SABR Point-of-Sale, so that the travel agencies can reap benefits without disruption to the ongoing workflows.
The recent collaboration reflects the reliability of SABR’s Beyond NDC Program and Global Distribution System platform, which work like a marketplace connecting travel suppliers with buyers. This, in turn, is likely to aid the company in expanding its customer share in the Travel Solutions segment.
Sabre Corporation Price and Consensus
Sabre Corporation price-consensus-chart | Sabre Corporation Quote
Last month, Sabre inked a similar strategic technology partnership with Simplenight, a global technology company that builds innovative enterprise solutions, including customizable book ability, cloud-based distribution, dynamic packaging and merchandising.
Per the contract, Simplenight leverages the TX-based company’s Virtual Payments solution as its B2B payment provider. Through this deal, SABR is anticipated to unveil new revenue opportunities while advancing traveler experience through its latest updates in retailing solutions.
Sabre has more than 425,000 travel agency partners worldwide at present. The company provides one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually.
The leading travel-related software and technology provider has its customer base spread more than 160 nations globally. Last week, Sabre declared Brazil’s GOL Linhas Aéreas’ successful implementation of Sabre Ancillary IQ. The Ancillary IQ is an artificial intelligence-based solution designed to help create personalized offers for travelers and drive incremental ancillary revenue opportunities for airline customers.
Earlier in March, the company signed a distribution agreement with Bangladesh start-up airline Air Astra. The Dhaka-based carrier has joined Sabre’s global distribution family to support its indirect retailing strategy as it plans for future growth.
Sabre reported revenues of $631 million in the fourth quarter of 2022. The top line was 26% higher than $501 million in the year-ago period. This surge clearly reflected a significant improvement in the company’s global air, hotel and other bookings.
Zacks Rank & Stocks to Consider
Sabre currently carries a Zacks Rank #3 (Hold). Shares of SABR plunged 62.8% in the past year.
Some top-ranked stocks from the broader Computer and Technology sector are Airbnb (ABNB - Free Report) , Baidu (BIDU - Free Report) and Fabrinet (FN - Free Report) . While Airbnb and Fabrinet sport a Zacks Rank #1 (Strong Buy), Baidu has a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Airbnb’s first-quarter 2023 earnings has been revised northward from a loss of a penny to 14 cents per share over the past 60 days. For 2023, earnings estimates have moved up by 58 cents to $3.38 in the past 60 days.
ABNB's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 57.2%. Shares of the company have declined 26.9% in the past year.
The Zacks Consensus Estimate for Fabrinet's third-quarter fiscal 2023 earnings has been revised 7 cents upward to $1.90 per share over the past 60 days. For fiscal 2023, earnings estimates have moved north by 23 cents to $7.71 in the past 60 days.
FN’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters, missing once, the average surprise being 5.1%. Shares of the company have jumped 9.8% in the past year.
The Zacks Consensus Estimate for Baidu’s first-quarter 2023 earnings has been revised 17 cents northward to $2.60 per share over the past 30 days. For 2023, earnings estimates have fell by 0.8% to $11.53 per share over the past 30 days.
BIDU’s earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 45.5%. Shares of the company have increased 2.3% in the past year.