Sabre Holdings Corporation (NYSE: TSG), the IT leader in travel and transportation, and EventSource.com, the first business-to-business e-commerce network for meeting planning, today announced that Sabre will become one of EventSource.com’s equity investors and the exclusive computer reservations system for the EventSource.com Web site.
In addition, the companies formed a significant strategic alliance to launch the industry’s first corporate travel management system with meeting planning capabilities. The result is a joint solution that enables Sabre Business Travel Solutions(R) customers, Sabre connected travel management firms and Web sites to better manage group travel needs, which should dramatically reduce their costs.
The companies will jointly integrate EventSource.com’s proprietary, Web- enabled meeting planning technology into the Sabre BTS(SM) system. This will provide EventSource.com with immediate access to the more than 360 corporate customers who currently utilize Sabre BTS’ e-Commerce corporate travel management and purchasing systems. The strategic alliance will enable joint development efforts for the design of future group travel and meeting planning management solutions that are aimed at addressing the needs of corporate customers and meeting planning specialists. EventSource.com’s high-touch, high-tech services enable corporate meeting planners to quickly identify, select and contract meeting venues and services with global suppliers.
“Our equity investment in EventSource.com demonstrates our confidence that this leading meeting planning network will enhance and complement Sabre’s existing capabilities in the group and meeting space,” said Scott Smith, vice president and general manager for Sabre BTS. “Our corporate customers have indicated they need integrated group travel and event management capabilities. Embedding a customized application from EventSource.com into the Sabre BTS system allows our customers to manage group travel more efficiently and cost effectively than ever before. At Sabre, we are continually looking for innovative services and right-sized solutions to solve specific travel management needs.”
Sabre BTS customers will have access to EventSource.com’s suite of applications for group travel services, including a meeting and event site search engine with tens of thousands of hotels, resorts and conference and convention centers worldwide. Meeting attendees will be able to register for a meeting and book travel arrangements all from a single site. Sabre BTS will be the exclusive corporate travel management system integrated into EventSource.com for at least one year.
“We are delighted that Sabre, the world’s leading travel technology provider has invested in EventSource.com,” said Ed Sarraille, president and CEO of EventSource.com. “Sabre’s management of more than 400 million travel transactions and 40 percent of global travel reservations will enable us to significantly broaden our reach. We believe our partnership underscores our commitment to provide customers with a complete corporate travel and meeting management solution.”
With corporate group travel accounting for 40 percent of travel costs, EventSource.com’s proprietary meeting planning technology is complementary to corporate travel management systems such as Sabre BTS. This joint development will provide Sabre clients with an integrated service that helps to better manage overall corporate travel spending.
Sabre BTS is the industry’s leading e-commerce corporate travel management and purchasing system, giving business travelers a quick and easy way to make their own travel arrangements at their desktops while complying with corporate policies. The award-winning Sabre BTS system enables businesses to track every travel dollar from pre-planning and purchasing to expense reporting and reimbursement—offering users the potential to save as much as 30 percent in total travel management costs. More than 360 corporations have selected Sabre BTS - more than any other corporate travel management system.