First major post-IPO activity for Sabre as it joins its rivals in targeting growth in the sector hospitality by buying tech platform Genares.
Terms of the acquisition were not disclosed.
Genares provides a central reservation system, revenue management tools and marketing systems to around 2,300 independent and hotel chains around the world.
The business and staff will immediately become part of Sabre’s Hospitality Solutions division, a statement says.
The announcement today to buy Genares comes four months after the successful listing of Sabre on the public markets in New York.
Sabre Hospitality Solutions president, Alex Alt, says,
“Genares is well-known in the industry for its commitment to outstanding customer service and vast industry expertise, and that is highly complementary with Sabre.
“We look forward to continuing, and building upon, the standard of excellence that Genares has established while helping their customers reach the next level in profitability and growth through our broad portfolio of hospitality solutions.”
In a letter to partner agencies, Alt says the acquisition will “further strengthen our position as a leading technology provider in hospitality.
“There will be no impact to you or your business and we remain steadfast in our goal to provide you with powerful solutions, unrivaled results, and relentless innovation.”
Sabre’s arch rivals Travelport and Amadeus have also recently flexed their acquisition muscles in the hospitality technology sector over the course of the past 12 months.
Topping the lot was Amadeus when it splashed out $500 million to buy Newmarket International in December last year.
Travelport spent in the region of $10 million (according to the S1 filed for its IPO) to acquire Hotelzon in June 2014.
More to follow…
