Sabre (SABR) Adds Travel Restriction Tracking in SafePoint
Sabre (SABR) expands its travel risk management solutions portfolio, SafePoint, by adding global travel restriction tracking capability and ensuring increased traveler safety.
Sabre Corporation SABR recently announced that it has included global travel restriction tracking capability to its travel risk management product — SafePoint.
Introduced in 2016, Sabre’s SafePoint portfolio provides travel risk management solutions to corporate travel agencies worldwide. SafePoint automates the process of monitoring global events, alerting corporations of impacted travelers, and communicating with them. Thus, it enhances traveler safety by offering increased accuracy in identifying affected travelers and reducing the response time.
Setting up of SafePoint is a hassle-free process as it does not require any hardware installation. SafePoint is a web-based product accessible from any network-connected device like laptop, desktop or mobile device. It helps travel agencies and corporate customers to make more informed decisions at any stage of their itinerary.
With a surge in COVID-19 cases all over the world, particularly the new Omicron variant, the travel industry has been once again riddled with restrictions. Despite increased vaccination efforts and manageable caseloads, global travelers are still unable to hit the roads or take to the skies as countries close their borders. Sabre’s duty-of-care tool, SafePoint, will help travelers receive information about the spread of COVID 19, emerging new variants, entry restricted destinations and requirements of masks, vaccinations, health documentation and quarantine.
During the third quarter of fiscal 2021, the company’s Travel Solutions segment revenues amounted to $390 million compared with $237 million in the year-ago quarter. This was primarily driven by a gradual recovery in global air and other bookings while the travel industry rebounded from pandemic blues.
Sabre has its customer base spread over 160 nations with more than 425,000 agency partners globally. It is one of the largest marketplaces in the world that manages approximately $260 billion worth of global travel spending annually.
Sabre Corporation Price and Consensus
Sabre has been winning consecutive deals from major global airlines, hoteliers and travel agencies of late. Recently, it entered into a multi-year preferred Global Distribution System (“GDS”) agreement with one of the largest travel agencies in Colombia, Aviatur, to support its growth plans, transform its business, and increase efficiencies.
In December 2021, Belgrade-based Air Serbia implemented the company’s Dynamic Availability software to actively respond to evolving conditions with optimized pricing information. Prior to that, Sabre signed a partnership with Gran Colombia de Aviación (GCA Airlines) to power the carrier’s future revenue growth while reaching new market segments.
In the same month, the tech company entered a long-term, multi-faceted strategic partnership with American Express Global Business Travel focused on developing technologies that will enable the future of corporate travel distribution.
In November, it inked a long-term partnership with the Hanover, Germany-based TUI Group to globally distribute the latter’s own hotel brands, including TUI Blue, Robinson and TUI Magic Life. Prior to that, it entered a distribution partnership with Calafia Airlines to enable the distribution of flights and services to travel agencies in the United States through its travel marketplace, thus helping the airline accelerate revenue growth and expand its market reach.
Earlier in November 2021, it partnered with Japan-based Hotel Keihan Chain to create tourism opportunities in the country. Separately, it entered a distribution agreement with the second-largest hotel group in China, Huazhu Group, to expand global reach for its upscale and luxury hotel brands and support the latter’s global growth strategy.
Zacks Rank & Stocks to Consider
Sabre currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader computer and technology sector include the largest global Customer Relationship Management vendor Salesforce CRM and Hewlett Packard Enterprise HPE, both flaunting a Zacks Rank #1 (Strong Buy), and Advanced Micro Devices AMD carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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