Sabre Corporation’s (SABR - Free Report) SynXis Platform has been selected by Italian hospitality group Space Hotels as its distribution provider and partner for more than 60 affiliated hotels in Italy.
This partnership will help Sabre expand its reach to more than 60 independent, three- to five-star hotels in 35 Italian travel destinations.
The Sabre SynXis Platform's advanced technology will effectively update operations for Space Hotels’ current portfolio and help maximize revenues of direct and indirect channels. The platform will drive online bookings via the SynXis Booking Engine, as well as attract further bookings through third-party distribution channels via the Sabre travel marketplace.
Hospitality providers like Space Hotels require robust technology solutions and a broad network of channels to expand their reach and drive more conversions. SynXis Central Reservations distributes rates and inventory through online and offline distribution channels. Moreover, it provides connectivity to global distribution systems, online travel agents, website and mobile booking engines.
Notably, Sabre Hospitality Solutions currently has more than 40,000 properties using its SynXis technology to power distribution, reservations, property management, retailing and guest experience solutions.
Scope in Tourism Industry
The global tourism industry is thriving on the back of technological progress, which is allowing greater exposure and access to previously inaccessible destinations.
Per a deskless workforce report issued by Emergence Capital, by the end of 2018, 82% of hospitality companies had planned to increase spending on deskless technology in 2019.
Per Research Nester, the global tourism industry is anticipated to hit $11.38 trillion (10% of global GDP) by 2025. Moreover, total spending on global travel and tourism sector is expected to surge to $1.34 trillion in 2025.
In the last reported quarter, Sabre Hospitality Solutions revenues jumped 8.1% year over year to $73.9 million, driven by 28.1% growth in central reservation system transactions, marking the sixth consecutive quarter of strong gains in its share in the Global Distribution System market.
Technological progress in the global travel and tourism industry is expected to drive adoption of the company’s solutions.
Zacks Rank & Stocks to Consider
Sabre currently carries a Zacks Rank of #3 (Hold).
A few top-ranked stocks in the broader technology sector are Synopsys, Inc. (SNPS - Free Report) , Alteryx, Inc. (AYX - Free Report) and Five9, Inc. (FIVN - Free Report) , each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for Synopsys, Alteryx and Five9 is currently pegged at 12%, 17.62% and 10%, respectively.
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