Leading position in travel marketing and distribution; Relatively strong financial profile; and Strong growth prospects for the on-line travel distribution sector. Travel distribution is dependent on demand and global events; Competition has intensified recently; and Fairly aggressive acquisition strategy. The ratings on Sabre Holdings Corp. reflect its leading position within several of its major businesses and relatively strong financial profile even after the recent $1 billion acquisition of lastminute.com. However, the company operates in competitive and cyclical businesses and has pursued a fairly aggressive acquisition strategy. Sabre is a major provider of travel marketing and distribution services to the travel industry. Sabre owns one of the largest computer reservations systems (CRS) in the world, responsible for booking approximately 36% of
