Company: SABR
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001597033-25-000061
Chunk: 74

Company: Sabre Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 74
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 could impact our rate of growth. Passengers boarded for IT solutions has been negatively impacted by de-migrations from carriers who de-migrated prior to 2024; however, we expect revenue growth for IT solutions beginning in the third quarter of 2025 following the anniversary of the impact of these de-migrations on our revenue.

We believe that we have resources to sufficiently fund our liquidity requirements over at least the next twelve months, including the aggregate payment of approximately $217 million of principal due at maturity under current debt facilities; however, given the uncertain economic environment and the leveling off of industry air distribution volume growth, we will continue to monitor our liquidity levels and take additional steps should we determine they are necessary. See “—Recent Events Impacting Our Liquidity and Capital Resources” and “—Senior Secured Credit Facilities.” During 2023 and 2024, we refinanced portions of our debt which resulted in higher interest rates than prior years, increasing our current and future interest expense. Currently approximately 48% of our debt, net of cash and hedging impacts from interest rates swaps, is variable and impacted by changes in interest rates. Approximately 28% of our debt is variable, excluding the Senior Secured Term Loan due in 2028, where pricing is subject to the highest yield to maturity of Sabre GLBL secured debt as defined by the Reference Rate.  See “Risk Factors—We are exposed to interest rate fluctuations.” 

23

Agreement to sell Hospitality Solutions Business

On April 27, 2025, we entered into a definitive purchase agreement for the Hospitality Solutions Sale. The purchase price for the transaction is approximately $1.1 billion in cash, and we are currently evaluating the impact of the sale to our financial statements. The Hospitality Solutions Sale is expected to close by the end of the third quarter of 2025, subject to customary closing conditions and regulatory approvals. Following closing of the Hospitality Solutions Sale, we expect to use the net proceeds of approximately $960 million (net of estimated taxes, fees and customary closing working capital adjustments) primarily to repay our outstanding indebtedness. See "Liquidity and Capital Resources— Capital Resources". As a result of the Hospitality Solutions Sale, we expect our Hospitality Solutions segment to be presented as a discontinued operation in the second quarter of fiscal 2025. Following the closing of the Hospitality Solutions Sale, we expect to manage and report our business in one reportable segment. In addition to the purchase agreement described above, the parties expect to enter