Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 736

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 736
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 to the prior year, primarily due to: 

•a $434 million, or 27%, increase in distribution revenue, which was primarily due to a 18% increase in direct billable bookings to 355 million and favorable rate impacts from improved international and corporate bookings; and

•an $104 million, or 15%, decrease in IT solutions revenue consisting of approximately $100 million decrease as a result of de-migrations, primarily due to changes in Russian law and impacts of termination fees in both periods from certain carriers and a $2 million decline in the recognition of previously deferred revenue comprised of a $27 million decrease primarily due to a change in facts and circumstances associated with a Russian carrier in the prior year, offset by $25 million recognized in 2023, which we do not expect to reoccur. In addition, we incurred a $36 million decrease due to the sale of our AirCentre portfolio on February 28, 2022. These decreases were partially offset by a $28 million increase in revenue due to an 8% increase in passengers boarded to 689 million.

Hospitality Solutions—Revenue increased $50 million, or 19%, for the year ended December 31, 2023 compared to the prior year. The increase was primarily driven by a $48 million increase in SynXis Software and Services revenue due to an increase in transaction volumes of 10% to 122 million driven by new customer deployments and a favorable mix within our distribution channels. Additionally, DX revenue increased by $2 million.

36

Cost of Revenue, excluding technology costs

 Year Ended December 31,   20232022Change (Amounts in thousands)  Travel Solutions$1,038,628 $894,556 $144,072 16 %Hospitality Solutions146,820 126,543 20,277 16 %Eliminations(38,508)(28,880)(9,628)33 %Total segment cost of revenue, excluding technology costs1,146,940 992,219 154,721 16 %Corporate18,463 8,624 9,839 114 %Depreciation and amortization24,203 39,976 (15,773)(39)%Total cost of revenue, excluding technology costs$1,189,606 $1,040,819 $148,787 14 %

Travel Solutions—Cost of revenue, excluding technology