By Adriano Marchese
Sabre is set to sell its hospitality solutions business to alternative asset management firm TPG for $1.1 billion in cash.
TPG will invest in Hospitality Solutions, which provides software and solutions to hotel brands around the world, through TPG Capital, the firm's U.S. and European private equity platform.
The two companies said jointly on Monday that the transaction will establish Hospitality Solutions as a standalone business. TPG expects the new business will have dedicated resources for growth and continued expansion as the core technology platform for hotel customers.
Sabre expects to use the $960 million in net proceeds to pay down debt, which should help its balance sheet, and hone its focus on the core business.
Sabre first purchased SynXis, the core of its hospitality business, in 2005.
The transaction is expected to close by the end of the third quarter of this year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
April 28, 2025 09:13 ET (13:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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