Hopper | February 15, 2022
Sabre Corporation (NASDAQ: SABR), a leading software and technology company powering the global travel industry, and Hopper, one of the world's fastest growing online travel agencies, today announced the renewal and expansion of their long-term strategic technology partnership.
Since 2012, Sabre has been a strategic partner of Hopper's, helping the company deliver on its promise to save users time and money and make travel planning easier. Given their strong historical performance, today the two companies are committing to further elevate their partnership for the next three years, by making Sabre their primary global GDS and technology partner. Both parties have already defined a joint roadmap and will continue working closely to further evolve the online travel marketplace and customer experience.
"Sabre believed in our vision when Hopper was in its infancy and has continued to support us as our strategic retailing and distribution partner since our beginning, Sabre's global distribution network along with its advanced shopping APIs and ability to find the lowest fare was the foundation that we built upon – adding our own proprietary AI-based solutions. Together our innovations have made Hopper the stand-out brand it is today. We look forward to our continued partnership with Sabre as we work together to achieve Hopper's next-generation services and solutions."
-Fred Lalonde, CEO and co-founder of Hopper.
The number one downloaded travel app in the U.S. in 2021, Hopper utilizes a broad spectrum of Sabre's technology including low fare shopping APIs, post booking automation and shopping data to deliver on their commitment to find the lowest fares for customers and help them save money.
When travel was disrupted across the globe in 2020 and travelers sought to cancel or modify travel plans, Sabre's post booking automation technology allowed Hopper to service their customers seamlessly and efficiently, driving cost savings which Hopper reinvested for the benefit of their millions of app users across the globe.
"We are thrilled to be a part of Hopper's success over the years as its trusted technology partner, Even more important, we look forward to continuing to invest in the online segment and our work with Hopper to redefine the future of travel retailing through modern, intelligent solutions."
-Roshan Mendis, chief commercial officer of Sabre Travel Solutions.
As part of Hopper's technology strategy and building on their long-term partnership, Sabre and Hopper are actively exploring opportunities to continue to co-innovate on the future of travel technology through Hopper Cloud.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveller experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
Hopper is the world's fastest-growing mobile-first travel marketplace. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that help customers save money and travel better. Through its B2B initiative, Hopper Cloud, the company is syndicating its fintech solutions, infrastructure, and agency content. Whether it's pricing volatility or trip disruptions, Hopper's proprietary suite of fintech solutions address every pain point in the customer journey while driving conversion, repeat purchases, and profitability. To find out more about Hopper, visit www.Hopper.com.
Bookaway | July 17, 2021
Start-up in travel technology Bookaway has secured USD46 million in venture capital from Aleph, Corner Ventures, and Entrée Capital to establish the Bookaway Group, which will bring together ground and sea transportation companies from across the world.
The group has collaborated to digitalize the USD 157 billion sector, where 95% of activities remain offline (local buses, trains, ferries.) As a result, local suppliers can connect and reach even more travelers by offering an online platform for up-to-date information, reviews, and booking while increasing access to every part of the globe (over 100,000 routes and counting).
Getbybus, known for providing tens of thousands of routes in and around the Balkans and Western Europe, is the first to join the Bookaway Group, followed by 12Go, which has the biggest network of local transport choices in and around South East Asia. The Bookaway Group, in collaboration with Bookaway, provides access to more than 100,000 transit routes, user evaluations, and round-the-clock assistance in 14,600 locations across 80 countries.
The Bookaway Group aims to bridge the global gap between travelers and local transportation providers, allowing travelers to discover and book transportation options anywhere in the world, regardless of the language they speak or how remote the location is.
Bookaway has grown from a tiny Tel Aviv start-up to one of the world's top ground transportation companies in less than four years, with plans to expand further in the United States, China, and Latin America.
Since 2018, Bookaway has secured USD 35 million in Series B funding to establish the Bookaway Group, following USD 11 million in Seed and Series A funding. Aleph, a major Israeli investor, has been a loyal supporter since 2019.
Hyatt Hotels Corporation | June 07, 2022
Hyatt Hotels Corporation shared updates on its operating results for May, summer travel booking trends, and confirmation of the closing of previously announced asset disposition as the NYU International Hospitality Investment Conference commenced.
“We are delighted that we closed on the last of four previously announced owned hotel dispositions. In total, these four dispositions generated $812 million in gross proceeds and demonstrate meaningful and expeditious progress towards our current $2 billion asset disposition commitment, Additionally, our operational metrics in May serve as further evidence of continued recovery with comparable system-wide RevPAR improving from April, and system-wide RevPAR outside of Asia Pacific actualizing 3% above 2019 levels for the second consecutive month. As we look forward, we anticipate a busy summer travel season ahead.”
-Mark S. Hoplamazian, President and Chief Executive Officer of Hyatt Hotels Corporation
In the update, Hyatt announced that the comparable system-wide RevPAR in May was approximately $127, the strongest RevPAR performance in any individual month since November of 2019.
The leisure transient revenue was up 18% in May, thanks to Memorial Day weekend, where RevPAR in the Americas was approximately 24% above Memorial Day weekend of 2019.
Business transient and group revenue also continued to strengthen in May. The summer travel season ahead looks favorable in terms of booking trends. Gross group room revenue booked in May for stay dates in 2022 for comparable Americas was 46% above May of 2019. The all-inclusive portfolio had strong results.
As for the asset dispositions, the company has closed on all four previously announced assets resulting in gross proceeds of $812 million or over 40% of its current $2.0 billion disposition target, reflecting an aggregate multiple of 15.7x 2019 EBITDA, and entered into a long-term management agreement for each of the properties upon sale. Additionally, the company is marketing two of its hotels for sale.