Sabre makes $200M in cuts to offset coronavirus impact

PhocusWire | March 20, 2020

Travel tech provider Sabre has announced a large swathe of measures to mitigate the financial impact of the coronavirus outbreak. The cuts range from offering voluntary unpaid leave, severance and early retirement to staff across the world to scaling back its third-party contracting and vendor costs. U.S.-based employees will also face an undisclosed reduction on their base salary and CEO Sean Menke is taking a 25% pay cut. Staff in other country markets will also be subject to a reduction in compensation, the company says in a statement. The hit to the company's finances is coming largely from a decline in GDS incentives from segment fees and "a reduction in Sabre's approximately $250 million semi-variable technology hosting costs."

Spotlight

Change has been the only constant in the online travel business. Unrest in tourist hotspots, a hard-hitting recession, mergers and acquisitions, and a complete transformation of consumer behavioral patterns the industry has seen and suffered it all.

Spotlight

Change has been the only constant in the online travel business. Unrest in tourist hotspots, a hard-hitting recession, mergers and acquisitions, and a complete transformation of consumer behavioral patterns the industry has seen and suffered it all.

Related News

TRAVEL TECHNOLOGY

Road Trip Ready: Wyndham New Mobile App Lets Travelers Plan and Book the Ultimate Summer Road Trip

Wyndham | May 24, 2022

Wyndham announced the launch of Road Trip Planner, the latest digital innovation to its award-winning mobile app. The interactive booking tool, a first-of-its-kind service from a major hospitality brand, streamlines the road trip discovery, planning, and booking process, allowing passengers to arrange their next vacation in minutes. It is The Most Convenient Way to Book & TravelSM. "With Road Trip Planner, travelers enter a few details about the trip and instantly get an itinerary with all their hotel stops, bookable in one single transaction. It not only eases the stresses of travel planning but ensures the journey is as exciting as the destination." -Jessica Davidson, senior vice president, digital, Wyndham Hotels & Resorts A Seamless Solution for Road Trippers The latest addition to Wyndham Hotels & Resorts' digital platform, Road Trip Planner, demonstrates the company's dedication to providing value to its property owners and visitors. Road Trip Planner's key features: Customer Itineraries Recommended Routes Details at Your Fingertips Pay Your Way Jessica Davidson further added, "Built upon the success and strong adoption of our mobile app, Road Trip Planner is the perfect complement to Lightning Book®, which is our Fastest Way to Book DirectSM and enables guests to reserve a hotel in just a few taps. Now, whatever your travel preferences—be it booking last minute or planning far ahead—Wyndham has you covered. Summer, here we come!" Understanding the Road Tripper Mindset Earlier this month, Wyndham partnered with Wakefield Research to commission its first-ever American Road Trip Index, which uncovered vital information concerning visitors' future road trips while tapping into pop-culture interests. Wyndham's Road Trip Planner is now accessible as part of Wyndham Hotels & Resorts' award-winning mobile app. The app is available for download on the Apple App Store and Google Play Store. Mobile check-in and checkout, innovative in-stay features, best-in-class design, personalized experiences, Wyndham Rewards® account management, gamification, and more are available through Wyndham's mobile app.

Read More

TRAVEL TECHNOLOGY

Affirm and Agoda Enter Partnership

Agoda | June 14, 2022

On June 13, payment network Affirm announced a partnership with global travel platform Agoda. Agoda is part of Booking Holdings, the world’s leading online travel and related services provider. This partnership allows eligible travelers to book their hotel stays for upcoming trips across the Agoda platform via app and web. In addition, they can pay over time for bookings exceeding $50. When travelers choose Affirm as a checkout action on Agoda, those eligible can split the total cost of their purchases into either biweekly or monthly payments for as low as 0% APR. Travelers get to see the total cost of their purchase at the time and never have to pay more than the agreed amount upfront. Agoda has integrated Affirm’s Adaptive Checkout to offer customers various payment options to choose from based on their budget and preferences. Eligible travelers also have an option to pay four interest-free biweekly payments and monthly payment options. “We are always looking for innovative ways to help more people access travel, using tech to simplify the search, booking and payment processes,The launch of pay-over-time options with Affirm will enable travelers in North America who might have previously found it inconvenient to pay for their booking in one lump sum to spread the costs over multiple payments without incurring any compound interest or additional costs. We’re helping consumers get back out into the world of travel – on their own terms.” -Agoda’s Chief Financial Officer Thi-Mai-Linh Bui. According to a recent Affirm Consumer Spend Report, 80% of consumers agree that 2022 will be the year they splurge on a bucket-list trip and nearly 30% plan to pay for travel expenses over time instead of all at once, said Affirm’s Chief Revenue Officer Geoff Kott. “Our partnership with Agoda gives more travelers a budget-friendly way to pay for their next milestone vacation so they can travel without concern for late or hidden fees.

Read More

TRAVEL TECHNOLOGY

MyHotels® Receives Final Accreditation Officially Recognized as Approved Umrah Online Travel Agency from the Ministry of Hajj and Umrah

MyHotels | October 01, 2021

MyHotels® announced it had received final approval from the Ministry of Hajj and Umrah in Saudi Arabia to serve as an official Umrah OTA. MyHotels® is a Saudi leading online travel agency revolutionizing the world of travel and tourism by using an integrated multi-service platform to enable customers to make international tourist reservations at premium prices. MyHotels® provides a wide variety of services, including accommodations (hotels, villas, apartments); transportation (air, bus, car, transfers, etc.); individualized package tours and vacation providers, and Umrah Services. "We are happy and proud to receive this official designation, We have invested a lot and still investing in developing the infrastructure of the MyHotels® to deliver the fastest Umrah platform possible, and we expand our partnership in Umrah hotels reservations and the Umrah transportation reservation sectors and offering these discounts directly to our partners via our platform. This will be allowing our partners to avoid the stress of commissions targets and incentives policies, letting our partners focusing on their core business." said Emad Alabbas, CEO of MyHotels®. MyHotels® Umrah Packages B2C Umrah: Issues an immediate electronic Umrah e-Visa for individuals allows them to enter Saudi Arabia. The package includes hotels in Makkah City and/or Madinah City, transportation, and ground services, including medical insurance from Saudi Umrah Operators. B2B Umrah: Provides Umrah booking services to the Saudi Umrah Operators and their external agents by enabling them to book Makkah and Madinah hotels/accommodations, transportation/transfers and generating instantly a BRN ID so they can issue Umrah Visas for groups via access with Umrah Systems Services Center (MUKHA). About MyHotels® Founded in Saudi Arabia in January 2016, headquartered in Makkah, MyHotels® is an Online Travel Agency - OTA "worldwide travel services," accommodations reservations, and other travel-related services for both online and offline in both lines B2B and B2C clients. By leveraging positive relationships across the industry, MyHotels® can offer travel packages through affiliates and partnerships, giving customers direct pricing and significant savings from a wide variety of hotels, hotel apartments, villas and hostels. Covering more than 1,000,000 accommodations/properties across 80,000 destinations worldwide, MyHotels® is a recognized and trusted global travel brand.

Read More