Sabre Corporation has announced today that it is exploring strategic options, including a potential sale, for its lastminute.com business unit.
lastminute.com is one of Europe’s leading online travel and leisure retailers and its brand is recognized by more than 90 percent of European consumers.
“lastminute.com is an iconic brand and an innovative marketer whose legendary ads reinforce what makes spontaneous travel so fun and exciting – and sometimes a little mischievous,” said Sabre president Tom Klein.
“As part of Sabre, lastminute.com has significantly improved its technology and operations, and is now perfectly positioned to unlock its full growth and profitability potential.”
Over the past decade, lastminute.com has become the undisputed champion of spontaneous travel experiences.
Recent research from lastminute.com showed that in 2013, more than 50 per cent of UK short breaks and holidays, and more than one third of British travel and leisure spend was booked and used within 21 days.
Matthew Crummack, chief executive at lastminute.com, commented: “We have a clear strategy and core proposition to be the champion of last minute travel and leisure, and I’m pleased to say no one knows ‘last minute’ like we do.
“Today, with smartphones and tablets encouraging spontaneity like never before, we’re even more relevant.
“With more than six million Brits using mobiles to book getaway breaks on the day, we have seen mobile traffic and bookings increase significantly.
“It really does feel as if lastminute.com was made for mobile.”
As part of Sabre, we have significantly improved our technology and operations, and we’re now perfectly positioned to unlock our full growth and profitability potential. We believe that doing so will further strengthen our brand and make us even more relevant with customers, partners and suppliers
I look forward to seeing the outcome of the strategic review as we continue to deliver great last minute experiences to our customers
Under Sabre, lastminute.com strengthened its business to meet this new appetite for spontaneity, investing in mobile and disruptive products such as Top Secret Hotels, exclusive holiday packages in France, and a unique lifestyle offering in the UK.
“The decision to review strategic options for lastminute.com supports Sabre’s strategy to focus on our core business as the world’s leading technology provider to the global travel and tourism industry,” Klein added.
Sabre has retained international advisory-focused investment bank, Houlihan Lokey, as advisors for the strategic review.