Company: SABR
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001597033-25-000027
Chunk: 896

Company: Sabre Corp
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 896
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Total revenue$3,029,565 $2,907,738 $121,827 4 %

Travel Solutions—Revenue increased $103 million, or 4%, for the year ended December 31, 2024 compared to the prior year, primarily due to: 

•a $117 million, or 6%, increase in transaction-based distribution revenue due to favorable rate impacts from travel supplier mix and a 2% increase in direct billable bookings to 363 million; partially offset by,

•a $14 million, or 2%, decrease in IT solutions revenue driven by a $35 million decline in revenue from customers that have de-migrated from our systems, including the impact of termination fees from a certain carrier in the prior year. This decrease was partially offset by an increase of $15 million due to volume growth, excluding the impact of customers that have de-migrated, a $3 million increase in revenue recognized due to changes in facts and circumstances associated with certain carriers and a $3 million increase in other revenue. We expect our revenue growth to continue to be impacted by these de-migrations through the first half of 2025.

Hospitality Solutions—Revenue increased $23 million, or 7%, for the year ended December 31, 2024 compared to the prior year. The increase was primarily driven by a $24 million increase in SynXis Software and Services revenue primarily due to an increase in transaction volumes of 5% to 128 million driven by new customer deployments and a favorable mix within our customer base.

33

Cost of Revenue, excluding technology costs

 Year Ended December 31,   20242023Change (Amounts in thousands)  Travel Solutions$1,128,971 $1,038,628 $90,343 9 %Hospitality Solutions145,020 146,820 (1,800)(1)%Eliminations(42,098)(38,508)(3,590)9 %Total segment cost of revenue, excluding technology costs1,231,893 1,146,940 84,953 7 %Corporate2,811 18,463 (15,652)(85)%Depreciation and amortization20,035 24,203 (4,168)(17)%Total cost of revenue, excluding technology costs$1,254,739 $1,189,606 $65,133 5 %

Travel Solutions—