Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 357

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1A
Chunk 357
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 to our cost reduction plan and the sale of AirCentre.

Hospitality Solutions—Cost of revenue, excluding technology costs, increased $20 million, or 16%, for the year ended December 31, 2023 compared to the prior year primarily due to costs associated with increased transaction volumes.    Corporate—Cost of revenue, excluding technology costs, increased $10 million, or 114%, for the year ended  December 31, 2023 primarily due to a $13 million restructuring charge associated with the reduction of our workforce in 2023. This increase was partially offset by a $3 million decrease in labor and professional services costs due to our cost reduction plan.

Depreciation and Amortization—Cost of revenue, excluding technology costs, decreased $16 million, or 39%, for the year ended December 31, 2023 primarily due to the completion of amortization associated with certain customer implementations.

Technology Costs

 Year Ended December 31,   20232022Change (Amounts in thousands)  Travel Solutions$811,417 $846,092 $(34,675)(4)%Hospitality Solutions98,826 110,242 (11,416)(10)%Total segment technology costs910,243 956,334 (46,091)(5)%Corporate56,897 48,656 8,241 17 %Depreciation and amortization69,456 91,107 (21,651)(24)%   Total technology costs$1,036,596 $1,096,097 $(59,501)(5)%

Travel Solutions—Technology costs decreased $35 million, or 4%, for the year ended December 31, 2023 compared to the prior year. The decrease was primarily due to a $28 million decrease in technology costs due to cost savings related to our mainframe offloads and data migrations. Additionally, labor and professional services decreased by $8 million due to our cost reduction plan, which was partially offset by increased costs to support our technology transformation and strategic growth initiatives.

Hospitality Solutions—Technology costs decreased $11 million, or 10%, for the year ended December 31, 2023 compared to the prior year primarily due to a $17 million decrease in labor and professional services driven by our cost reduction plan. This decrease was partially offset by a $6 million increase in technology costs associated with our technology transformation initiatives, including the migration of SynXis