Saber reports revenue gains in all business units

saber reports revenue growth from its travel, distribution, IT solutions and hospitality solutions for the first quarter of 2022.

The company’s total revenue is $ 585 million against $ 327 million on an annual basis, with an operating loss of $ 80 million compared to a loss of $ 203 million in the first quarter of 2021.

Net income was reported at $ 42 million, driven by the sale of AirCentre, as well as increased travel Solutions incentive costs and Hospitality Solutions transaction costs, compared to a net loss of $ 266 million in the first quarter of 2021. .

Sean Menke, CEO and Chairman of the Board of Saber, said: “We are encouraged by the growing trends in our business and are seeing consistently consistent improvements in the volume of key indicators week after week from mid-January 2022.

“After a slow start in January due to the Omicron option, travel recovery accelerated sharply and bookings in April ended at the highest level of recovery since 2019 since the start of the COVID-19 pandemic. The overall improvement in each global geographical region was particularly positive, supported by a significant return on more profitable international and corporate travel.

“In addition, we continue to advance our technological transformation goals, which we expect to lead to significant savings and revenue opportunities.”

Revenue from the travel solutions business rose 85 percent to $ 534 million, driven by an increase in air travel and wider travel reservations as the industry recovered from the pandemic.

Distribution revenue rose 126% to $ 343 million, helped by the recovery of the industry and an increase in average booking fees.

Global net bookings, minus cancellations, were 65 million passengers, representing 42% of the levels for 2019. Revenues for the IT solutions business increased 39% to $ 191 million due to the recovery of passengers on board.

Hospitality Solutions’ revenue rose 33% to $ 56 million, driven by increased transactions in the central reservation system.

The company says that transactions in the central reservation system, which reached 100% of 2019 levels, increased by 31% to 23 million in the first quarter of 2022.