United Kingdom
United States
Asia Pacific
Sabre offloads lastminute.com in fire sale
Travel technology group Sabre is braced for a big hit on its 2005 investment in UK travel website lastminute.com, when it sells the business to Swiss travel firm Bravofly Rumbo Group.
The binding deal values lastminute.com at $120 million, about a tenth of the price Sabre paid for it in 2005.
Sabre had been trying to offload lastminute for several months as it plans to focus on its core technology B2B businesses.
The agreement is for all lastminute.com’s operations in the UK, France, Germany, Spain and Italy.
It would continue to use the Sabre global distribution system.
"We believe in the value and strength of lastminute.com’s iconic brand, which is recognized by more than 90% of European consumers," Bravofly chairman Fabio Cannavale said in a statement.
"Its business complements and expands our offering in Europe and, with its strong presence in the hotel and vacation sector, diversifies our product revenue streams."
Bravofly Rumbo owns several travel brands including Volagratis, JetCost, Crocierissime, Viaggiare and Viajar.
In the late 1990’s, lastminute.com became the poster child of the dotcom bubble in the UK, with companies such as Starwood Hotels, priceline.com and Sony Music Entertainment investing in the startup.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled