Sabre Reviewing lastminute.com Options
Sabre Corporation is exploring strategic options, including a potential sale, for its lastminute.com business unit.
“lastminute.com is an iconic brand and an innovative marketer whose legendary ads reinforce what makes spontaneous travel so fun and exciting – and sometimes a little mischievous,” said Sabre president and CEO Tom Klein. “As part of Sabre, lastminute.com has significantly improved its technology and operations, and is now perfectly positioned to unlock its full growth and profitability potential.”
lastminute.com is one of Europe’s leading online travel and leisure retailers and its brand is recognized by more than 90% of European consumers. According to officials, over the past decade, lastminute.com has become the undisputed champion of spontaneous travel experiences. Recent research from lastminute.com showed that in 2013, more than 50% of UK short breaks and holidays, and more than one third of British travel and leisure spend was booked and used within 21 days.
Under Sabre, lastminute.com strengthened its business to meet this new appetite for spontaneity, investing in mobile and disruptive products such as Top Secret Hotels, exclusive holiday packages in France, and a unique lifestyle offering in the UK.
“The decision to review strategic options for lastminute.com supports Sabre’s strategy to focus on our core business as the world’s leading technology provider to the global travel and tourism industry,” Klein added.
Sabre has retained international advisory-focused investment bank, Houlihan Lokey, as advisors for the strategic review.