Sabre (SABR) Extends Technology Partnership With Kanoo Travel

Sabre Corporation SABR recently announced that its 25-year partnership with Kanoo Travel has been extended with a new multi-year deal, per which the latter will leverage the former’s technology and solutions to support its operations.

Notably, Sabre has been very proactive about upgrading its technology to address changing demands of the travel market and support the recovery of the travel industry from the blows of the pandemic. This is driving the company’s customer loyalty and expanding its customer base.

Moreover, travel is expected to increase to the Middle East in the post-pandemic period. This expectation is motivating Kanoo Travel, which is the largest travel agency in the Middle-Eastern region, to equip itself with stronger technology to ease the end-to-end travel experience for customers. In the past, Sabre has enabled Kanoo to create its customized platform, Kanoo Krystal, which will be integrated with the Sabre Red 360 platform as part of the new agreement. This will increase the agency’s productivity and create new revenue opportunities.

Sabre Corporation Price and Consensus

Sabre Corporation Price and Consensus

Sabre Corporation price-consensus-chart | Sabre Corporation Quote

Additionally, Kanoo Travel will be implementing Sabre Virtual Payments to be able to maximize the value from every transaction.

Notably, the extended partnership will give Sabre increased access to Kanoo Travel’s broad customer portfolio. Kanoo Travel has a network of offices across the Middle East, North Africa, and Europe. Its partners include American Express Global Business Travel, which has one of the world's largest travel agency networks.

Sabre is currently focusing on deploying artificial intelligence (AI) and machine learning (ML) through its suite of technologies this year.

Deal Wins to Aid Recovery

The recent announcement on the partnership extension with Kanoo Travel adds to the string of partnership announcements by the company in the past few months.

Last month, the company expanded its partnership with Singapore Airlines, to enable select Sabre-connected travel agents in Singapore to book unique NDC (New Distribution Capability) content through the KrisConnect program, under Sabre’s global distribution system (GDS).

In December last year, Sabre inked an agreement with the Lufthansa Group airlines to continue to distribute the latter’s content to travel agencies and corporate travel departments through its GDS. With the help of Sabre’s NDC technology solution, Lufthansa Group airlines can personalize retailing by providing personalized price offers to travel buyers.

In the same month, LATAM Airlines, South America's longest-serving airline, implemented Sabre’s Select Shopping solutions on the carrier's website and call center. Additionally, Gulf Air, the national carrier of the Kingdom of Bahrain, introduced new fares using Sabre’s branded fares technology.

Moreover, in November last year, the company’s Revenue Optimizer solution was implemented by Croatia Airlines and GOL Airlines, Brazil’s leading domestic airline. Further, the company extended its partnership with Qantas to provide information to agents about the airline’s fares, products and services.

A business contract from Global Travel and Tourism started bringing some respite to Sabre from the negative impacts of the travel restrictions imposed due to the COVID-19 pandemic. Under the agreement, one of the leading travel agencies in Saudi Arabia adopted Sabre’s intelligent platform — Sabre Red 360.

The steady announcements of partnerships and other technological enhancements reflect that global tour and travel agencies are preparing for the post-coronavirus era. Furthermore, countries across the world have started reopening their economies. This would steadily boost travel demand in the near future, which is encouraging for Sabre.

Zacks Rank & Stocks to Consider

Sabre currently carries a Zacks Rank #3 (Hold).

A few better-ranked stocks in the broader technology sector are Ubiquiti Inc. UI, Vishay Intertechnology VSH and Etsy, Inc. ETSY, each sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The long-term earnings growth rate for Ubiquiti, Vishay Intertechnology and Etsy is currently pegged at 32.94%, 20.26% and 25.25%, respectively.

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