Company: SABR
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001597033-25-000090
Chunk: 45

Company: Sabre Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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, and therefore would not be meaningful in understanding the total future revenues expected to be earned from our long-term contracts. 

3. Discontinued Operations and Dispositions

On April 27, 2025, we entered into a definitive purchase agreement with the Buyer pursuant to which the Buyer agreed to purchase our Hospitality Solutions business, and on July 3, 2025, we closed the transaction for estimated cash proceeds of $960 million to $980 million, net. Estimated cash proceeds are net of estimated taxes and fees, cash acquired by the Buyer and customary closing adjustments. We expect to recognize a gain on sale in the third quarter of 2025, which we are currently in the process of estimating. The assets and liabilities associated with the Hospitality Solutions business are presented as held for sale on our consolidated balance sheets as of June 30, 2025 and December 31, 2024, and the operating results of our Hospitality Solutions business are presented as discontinued operations in our consolidated statements of operations for all periods 

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presented. The presentation of discontinued operations excludes general corporate overhead and other costs that do not meet the requirements to be presented as discontinued operations. In connection with the closing of the Hospitality Solutions Sale, we entered into transition services agreements with the Buyer, under which we will provide transition services consisting of technology, employment, administrative and other services for up to an eighteen month period to help provide for an orderly transition and facilitate the ongoing operations of the Hospitality Solutions business following the close. Consideration received under the agreements is primarily based on actual costs incurred for each service provided. Additionally, at the time of sale, Hospitality Solutions entered into a long-term agreement with us to continue to utilize our GDS for bookings which generates revenue for us.The following table presents the major categories of income from discontinued operations related to the Hospitality Solutions business (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue$87,002 $83,238 $172,211 $162,056 Cost of revenue, excluding technology costs44,453 39,187 83,410 77,137 Technology costs21,072 20,217 41,991 40,925 Selling, general and administrative13,657 11,699 26,986 22,972 Operating income7,820 12,135 19,824 21,022 Other expense:Interest expense, net(19,776)(12,865