Sabre Corp. headquarters in Southlake
By Christina Mlynski
Technology solutions provider of online travel Sabre Corp. —bralso the owner of Travelocity — filed with regulators to raise up to $100brmillion in an initial public offering of its common stock.
The IPO will feature Morgan Stanley, Goldman Sachs, Bank ofbrAmerica Merrill Lynch and Deutsche Bank Securities as joint book-runningbrmanagers for the offering.
Although the number of shares to be sold and the price rangebrfor the proposed offering are not public, this is the company's second attemptbrto become a publicly traded organization.
The company was spun off from American Airlines parent AMRbrCorp in an IPO in 2000. However, TPG Funds and Silver Lake Funds took Sabrebrprivate in 2007.
The Southlake-based company is the largest globalbrdistribution systems provider in North America for airplane bookings.
Sabre employs approximately 10,000 people in 60 countries,brwith technology developed in six facilities located across four continents.
Sabre's IPO comes at a time when travel and tourism isbrbooming. The total travel expenditures in the US hit $892.5 billion in 2013 andbrare projected to increase to $933.4 billion in 2014, according to the U.S.brCensus Bureau.
Additionally, a study by the Global Business TravelbrAssociation predicts a 7.2% rise in business travel spending in 2014 to $288.8brbillion. The spike is due to an improving economy, steady profits and gainedbrinterest in business investment.