Sabre confirms potential sale of lastminute.com

By Travolution
By Travolution
August 27, 2014 02:52 PM GMT

Sabre has announced a strategic review of options for UK OTA lastminute.com, including the potential sale of the business unit. 

Following recent press speculation that the business was up for sale, the US parent company issued a statement today.

Matthew Crummack, chief executive officer of lastminute.com, said: “lastminute.com is a hugely iconic brand with strong recognition across Europe that most businesses only dream of. 

“We’re proud of our legendary marketing ads – many of which are award-winning – and we work hard to make spontaneous travel and leisure fun and exciting.

“In fact, 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.

“We’ve been in the spontaneity business for over 15 years and in that time created unique products like Top Secret Hotels, exclusive holiday packages in France and a unique lifestyle offering in the UK.

“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.”

“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 and CEO 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.

“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.

 

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