United Kingdom
United States
Asia Pacific
Sabre’s revenue let down by GDS
Sabre has reported a 3.5 percent downturn in revenue for 2002, and predicts moderate revenue growth for the coming year.
The revenue in 2002 was $2 billion, down from $2.1 billion the previous year. Sabre blames worse than expected travel demand and venture capital write-downs of around $7 million for the downturn in revenues towards the end of 2002.
Sabre’s GDS business performed least well of its divisions last year, with revenue down five percent year-on-year to $1.6 billion in 2002.
Sabre’s online acquisition, Travelocity.com, bucked the trend, recording positive revenue growth of 2.2 percent year-on-year to $308 million in 2002. The web-based travel booking system, GetThere also showed improvement in 2002, with revenue up 19.6 percent year-on-year to $51 million. In a statement Sabre said this growth was buoyed by a two-fold increase in revenue from corporate business during 2002.
Sabre chairman and chief executive, William Hannigan (pictured) said Sabre’s acquisitions in 2002, which were Travelocity and Site 59 – a website selling lastminute merchant model air, hotel, and car rental inventory – would fuel growth in 2003.
The outlook for 2003 predicts moderate growth of revenue to between $2.1 and $2.2 billion, close to 2001 figures.
Read our previous stories:
26-Nov-2002 Sabre job cuts to hit 1,000
25-Nov-2002 Travelocity improves flight search
10-Oct-2002 Broom to head Sabre’s airline relations
30-Sept-2002 Sabre boosts e-ticketing for UK agents
27-Sept-2002 Sabre names Scandinavian conquest
2-Sept-2002 Sabre on the heels of Scandinavia’s leading GDS
5-Aug-2002 The TravelMole Interview: Chris Kroeger, Sabre
Sabre is a member of TravelMole’s PressZone. For the latest press releases, go to PressZone.
Walt Leger on New Orleans’ Resilience and Major Events Ahead
Cindy Mackin Shares Estes Park’s Winter Thrills
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
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
BA suspending all Heathrow to Abu Dhabi flights
Unexpected wave rocks cruise ship
Report: Cruise guest died after ship lashed in heavy storm
British teen in serious condition after paraglider collision
JetBlue scraps London Gatwick flights