In what is likely to be its final publicly filed earnings statement before it goes private, Travelport reported a 4 percent year-over-year decline in worldwide global distribution system segments and a modest rise in net revenue and earnings for the three months ending Dec. 31, 2018.
Each new year brings a new outlook, and by measures both anecdotal and numerical, corporate travel demand is off to a strong start in 2019. This is on top of what has proven to be a healthy 2018 for corporate travel demand.
United Airlines during its quarterly earnings call last week reported double-digit-percentage growth in corporate revenue on a year-over-year basis. With revenue come selling and distribution costs, and Wolfe Research analyst Hunter Keay seized on one of them: the "alarming" growth in commissions paid to travel management companies.
Sabre reported strong bookings growth across its global distribution system business for the first three months of the year and expects the trend to continue through 2018. The GDS operator and travel IT company raised its full-year earnings, revenue and GDS booking volume forecast, lifted in part by what executives, during an earnings conference call, painted as a healthy travel industry backdrop.
Australia-based Corporate Travel Management by the end of the year plans to launch its full suite of client-facing technologies in the U.S., including its online booking system, managing director Jamie Pherous said during the travel management company's fiscal-year earnings call Wednesday.
Following prepared remarks from executives on Travelport's first-quarter earnings call Thursday, CEO Gordon Wilson preempted questions on the stake that entities affiliated with activist investor Paul Singer took in the company. That investment was revealed in late March.
A consortium that includes Siris Capital Group and Elliott Management are in late-stage talks to acquire Travelport, Reuters reported Thursday, citing unnamed sources.