Sabre reported an increase in corporate travel air booking volume of 3%-4% in a third quarter earnings report. That helped drive a 5% growth in distribution revenue for the quarter, according to the report.
Total distribution revenue for the quarter was $551 million, up $26 million compared with the third quarter of 2023, which Sabre attributed to an increase in bookings as well as a 1% year-over-year hike in the average booking fee. Global net bookings increased 4% year over year to 93 million, with air distribution bookings up 3% and hotel distribution bookings up 9%.
Kurt Ekert, CEO, said the acceleration in air bookings growth was fueled by the implementation of commercial wins, continued growth in corporate travel and an improvement in Asia group bookings. “We expect our year-on-year air distribution bookings growth to continue building momentum as we enter 2025,” Ekert said. He also said both corporate and leisure demand remain “pretty strong across all geographies.”
Sabre’s Hospitality Solutions revenue increased 7% year over year to $84 million during the quarter. A 2% year-over-year growth in central reservation system transactions drove part of that increase, according to Sabre.
Total third quarter revenue increased 3% year over year to $765 million. The company reported a net loss of $63 million for the quarter, an improvement from a $212 million loss in the third quarter of 2023.
